Deadline for ADP fund release extended
Friday, 15 June 2007
FE Report
The government has again extended the deadline for release of fund for the annual development programme (ADP) of the outgoing fiscal until June 17 next.
A directive was given to the effect on Wednesday which stated that the ADP implementing agencies could get the fund released by June 17.
The directive also said the last date for submission of bills for both development and non-development expenses by the ministries has been set for June 18. The budget wing under the Ministry of Finance (MoF) was forced to fix the new deadline after finding that the fund release for ADP in the last month of the fiscal year is very low, said an official.
This is for the third time this year that the budget wing has extended the deadline for fund release, he added.
The government revised the ADP size downward for fiscal 2006-07 at Tk 216 billion from original Tk 260 billion.
Available statistics show that the ADP implementing rate is poor in the outgoing fiscal as less than 50 per cent work was done in the first 10 months.
The government has again extended the deadline for release of fund for the annual development programme (ADP) of the outgoing fiscal until June 17 next.
A directive was given to the effect on Wednesday which stated that the ADP implementing agencies could get the fund released by June 17.
The directive also said the last date for submission of bills for both development and non-development expenses by the ministries has been set for June 18. The budget wing under the Ministry of Finance (MoF) was forced to fix the new deadline after finding that the fund release for ADP in the last month of the fiscal year is very low, said an official.
This is for the third time this year that the budget wing has extended the deadline for fund release, he added.
The government revised the ADP size downward for fiscal 2006-07 at Tk 216 billion from original Tk 260 billion.
Available statistics show that the ADP implementing rate is poor in the outgoing fiscal as less than 50 per cent work was done in the first 10 months.