The Planning Commission (PC) would brief the Prime Minister Sheikh Hasina about the draft 7th Five Year Plan (FYP) sometime this month before finalising it, officials said Friday.
The General Economic Division (GED) of the PC has drafted the 7th FYP to raise the country's economic growth to 8.0 per cent in the terminal year (financial year 2019-2020) of its implementation period.
"We have requested for an appointment with the PM. We will brief her about the draft report of the 7th FYP," GED Member Professor Shamsul Alam told the FE Friday.
He said they have already drafted the development plan to be finalised within this month. The 7th FYP is to be implemented between FY2016 and FY2020.
According to the draft 7th FYP, Bangladesh will require Tk 31.9 trillion investment to implement it in a bid to boosting its economic growth to 8.0 per cent in its terminal FY 2020.
GED officials said some Tk 28.85 trillion or 90.4 per cent of the total required investment has been projected to come from domestic resources while Tk 3.05 trillion or 9.6 per cent from external sources.
The proposed development blueprint is expected to get a boost mainly from private sector which is proposed to invest 77.3 per cent of the total required money.
The private sector is expected to contribute Tk 24.65 trillion out of the total Tk 31.90 trillion funds to push up the GDP of Bangladesh, said a GED official.
The GED early this year started framing the 7th FYP as the execution period of the 6th FYP ended on June 30 this year.
The 7th Plan will be executed in a bid to raising the country's economic growth to more than 8.0 per cent and cut the poverty rate to 15 per cent.
The government earlier framed the Perspective Plan (2010-2021) targeting double-digit growth by 2021. As per the plan, the government prepared the 6th FYP. The 7th FYP will be implemented in the next 5 years until FY2020.
According to the draft 7th FYP, Bangladesh's economy will grow at 7.0 per cent rate in the current FY2016, 7.2 per cent in FY2017, 7.4 per cent in FY2018, 7.6 per cent in FY2019 and 8.0 per cent in FY2020.
The proposed 7th FYP has projected the creation of 3.6 million jobs at home and abroad next year. In the terminal year of the FYP, the Plan has projected to create 4.0 million jobs.
The government has targeted to boost the investment-GDP ratio to 34.4 per cent from the current 29 per cent, the plan draft said.
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