|
8.0pc cut in current ADP: 25 new projects on priority basis
Resource constraint forces govt to limit dev projects: Saifur
3/29/2006
Resource scarcity caused by excessive spending on petroleum and revenue earning less than expected have forced the government to go for implementing only prioritised development projects, report agencies.
Authorities at a meeting Tuesday at the NEC conference room decided to implement 31 priority projects under annual development programme (ADP) out of the total 94 approved ones for fiscal 2005-06.
The priority projects will be taken to the next meeting of the Executive Committee of the National Economic Council (ECNEC) for approval.
"Resources from the poorly implemented projects will be diverted to help implement the priority projects," Finance and Planning Minister M Saifur Rahman, who chaired the meeting, told newsmen after the meeting.
He asked the Planning Commission members, heads of six divisions under the commission and officials concerned to quickly implement the projects as the budget for the next fiscal year is approaching fast.
The priority projects are in agriculture, textile, energy and power, fisheries and livestock, land and physical infrastructure sectors.
"We'll hold a meeting next week to examine the ADP implementation process and see from which projects resources can be conserved," the minister said replying to a query.
He, however, said it would not be possible to divert resources from local components of the projects, but this could be done in case of external resources.
Replying to another question, Saifur said there has been a heavy rise in spending on fuel oil due to price-hike in the international market while the revenue earning has been lower than expected for the lower import of taxable items and higher import of non-taxable items.
|