Draft 7th Five Yr Plan ready, awaits PM suggestions

The draft of the 7th Five Year Plan (FY2016-FY2020), aiming to accelerate employment generation and reduce poverty, is now ready and awaits the Prime Minister’s suggestions. "The final draft of the 7th Five-Year Plan is ready and we're awaiting Prime Minister's suggestions in this regard," member of General Economics Division (GED) of the Planning Commission Prof Dr Shamsul Alam said. He said the GED has already requested the PMO to fix a date for presenting the document before Prime Minister Sheikh Hasina about the draft 7th Five Year Plan (FYP) some time this month for its finalisation. He said senior cabinet members, including Finance Minister AMA Muhith, Planning Minister AHM Mustafa Kamal, PM's Economic Affairs Adviser Dr Moshiur Rahman and senior officials from the GED are likely to be present during the presentation. Prof Shamsul Alam said the GED will present the contents of the document before Prime Minister Sheikh Hasina and some Cabinet members for their final suggestions, if any. He said after incorporating possible suggestions, especially from the Prime Minister, the document will be placed before the National Economic Council (NEC) meeting for its final approval. The GED of the Planning Commission has drafted the 7th FYP to raise the country’s economic growth to 8.0 per cent in the terminal year (Fiscal Year 2019-2020) of its implementation period. According to the draft 7th FYP, Bangladesh will require an investment of Tk31,903 billion to implement it in a bid to boost its economic growth to 8.0 per cent in its terminal year (FY) of 2020. GED officials said some Tk28,851 billion or 90.4 per cent of the total required investment is projected to come from domestic resources while Tk3,052 billion or 9.6 per cent from external sources. The proposed development plan is expected to get a boost mainly from the private sector which has proposed an investment of Tk24.65 trillion or 77.3 per cent of the total required fund. The public sector investment is expected to be Tk7.25 trillion (22.7 per cent of the total investment) during the plan period, of which 88 per cent will be from domestic resources and 12 percent will come from external sources. The GED early this year started framing the 7th FYP as the execution period of the 6th FYP ended on June 30 this year, according to a news agency.
- biplab