Dev projects quicken pace in Q1 of FY23

The development projects taken by top ten ministries as well as Annual Development Programme (ADP) got momentum in the first quarter (July-September) of the current financial year compared to the same period of the last fiscal year.

According to a recent review carried out by the Implementation Monitoring and Evaluation Department (IMED), the top ten ministries managed to spend 9.27 percent ​​of the total allocation in the first quarter.

During the previous fiscal year the ministries could spend below 9 percent of the money allocated.

The IMED sent a report to the Finance Ministry informing it about the current situation of the project implementation.

Planning Minister MA Mannan told this newspaper that they were monitoring the ongoing development projects. At the same time, the efficiency of the project stakeholders has increased as well.

Due to the global situation, wastage of money has been controlled tightly as well. Moreover, there is civil society monitoring. Journalists are also writing speeding up the project implementation process, he said.

Some projects were suspended at the beginning of the financial year while allocation for some others was cut down which have played a positive role in the implementation of the projects, the minister informed.

The ten ministries spent TK642.08 crore in the first quarter of the current fiscal against a total allocation of TK1, 82,196.56 crore which was 9.27 percent of the total expenditure of this fiscal, the IMED report also said.Among these ministries and departments, Local Government Division achieved 10 percent progress, Power Division 13.75 percent, Ministry of Science and Technology 12 percent, Health Services Department 10 percent, Bridges Division 12.62 percent, Railway Ministry 12 percent, Ministry of Primary and Secondary Education 3.59 percent.

Secondary and Higher Education Division made 6.47 percent progress, the Ministry of Water Resources 5.80 percent and Roads and Highways Department 7.67 percent.

However, the rate of implementation of ADP is lower than the national average at the Ministry of Primary and Secondary Education, Secondary and Higher Education Division, Ministry of Water Resources and Roads and Highways Department.

Officials at the Planning Ministry said considering the current economic situation, the government had been strict about project expenditure. Due to this, funds couldn’t be spent on some projects limiting the rate of implementation of ADP.

The government has divided the projects into A, B and C categories given their importance in dealing with the economic crisis. Less important projects have been placed in C category, whose fund release has been temporarily suspended.

There is a provision to release 75 percent of funds for B category projects and 100 percent fund can be released for A category projects. All foreign-aided projects fall into A category.