Tk7.85cr allocated, no money released in 11 months

The government has allocated nearly Tk 8 crore for an ongoing bond management system automation project in FY23. But not a single taka was released from the allocation for the project even as 11 months of the fiscal year has passed, resulting in a halt in the project work.

The information has been revealed in a letter, seen by The Business Post, from the National Revenue Board (NBR) to the Finance Division recently.

In the letter, signed by Deputy Project Director Kazi Rayhanuzzaman, NBR said, “There is an allocation of Tk 7.85 crore in the FY23 Revised Annual Development Program (RADP) for the bond management automation project. But no money has not been released from this allocation till now.”

For the proper implementation of the project, it has become necessary to release all the funds allocated in RADP for FY23.

The Finance Division senior secretary has been specifically requested to undertake the necessary administrative procedures for sanctioning the release of the fund to deal with the situation.

According to sources, NBR has been tasked with implementing an investment project under the Department of Internal Resources titled “Automation of Bond Management (2nd Revised)”. The ongoing project is being implemented with full government funding.

To automate the ongoing manual bond management of the Customs Bond Commissionerate, as part of modernising Bangladesh Customs, a project is being implemented at a cost of Tk 93.0198 crore since 2017.

A web-based automation software called Customs Bond Management System (CBMS) is being developed under the project, which is scheduled to end next month.

The government is looking to introduce automated bond management with the aim of preventing misuse of bond facilities, providing prompt service, preventing harassment, and increasing revenue collection.

Officials familiar with the project said important modules including bond licence application module, machinery module of automation software have already been developed. Services are being provided through the Bond License Application Module. The remaining modules are in process of activation.

According to NBR, CBMS is being developed by domestic software firm Reve Systems Limited.