NEC endorses sixth five-year plan
Thursday, 23 June 2011
FE Report
The government Wednesday finalised the country's sixth five-year development plan targeting 8.0 per cent economic growth and poverty elimination to 22 per cent by its final implementation period 2014-15 fiscal. Presided over by Prime Minister Sheikh Hasina, the government's highest economic policy making body - National Economic Council (NEC) -- endorsed the five-year plan at a meeting in Dhaka. After the NEC meeting, Planning Minister AK Khandker told journalists that the newly-framed sixth five-year plan would require Tk13.47 trillion investments for achieving the target goals. Out of the required fund, Tk12.21 trillion or 90.7 per cent will be mobilised from domestic sources and the rest Tk1.26 trillion or 9.30 per cent from external sources. The government expects 77.2 per cent investment from the private sector and the rest 22.8 per cent from the public sector to achieve 8.0 per cent gross domestic product (GDP) growth by 2014-15 fiscal. Most of the projected private sector finance will come in the form of public private partnership and foreign direct investment during the five years of its implementation period, Prof. Shamsul Alam, member of the GED, said. The General Economics Division (GED) under the Planning Commission has framed the sixth five-year development plan to implement it during the period from 2010-11 fiscal to 2014-15 fiscal. The development plan will be followed by all the government agencies to upgrade the country's rickety infrastructure and achieve double-digit GDP growth by 2021 cutting poverty to less than 15 per cent. The GED has prepared the sixth five-year plan targeting a double-digit economic growth by 2021 and eliminating regional development disparity. The five-year plan targets the investment-GDP ratio to 32.5 per cent by FY2015 from the current 24.5 per cent. The government in 2009 decided to reinstate the five-year development plan of Bangladesh from the FY2010-11 after eight years of discontinuation since 2002. The development guideline targets boosting the per capita income of the people to US$1,000 by the year 2015 and to achieve 100 per cent literacy by FY2015. Since Bangladesh's electricity coverage is very low in this sub-continent, the plan aims to cover cent per cent of the population under electricity facilities by 2021 producing 15,000 megawatt power. After discontinuing the five-year plan in 2002, Bangladesh introduced donor-advised first poverty reduction strategy paper (PRSP) in July 2005 when the country set target to achieve the millennium development goals (MDGs) by the year 2015.
The government Wednesday finalised the country's sixth five-year development plan targeting 8.0 per cent economic growth and poverty elimination to 22 per cent by its final implementation period 2014-15 fiscal. Presided over by Prime Minister Sheikh Hasina, the government's highest economic policy making body - National Economic Council (NEC) -- endorsed the five-year plan at a meeting in Dhaka. After the NEC meeting, Planning Minister AK Khandker told journalists that the newly-framed sixth five-year plan would require Tk13.47 trillion investments for achieving the target goals. Out of the required fund, Tk12.21 trillion or 90.7 per cent will be mobilised from domestic sources and the rest Tk1.26 trillion or 9.30 per cent from external sources. The government expects 77.2 per cent investment from the private sector and the rest 22.8 per cent from the public sector to achieve 8.0 per cent gross domestic product (GDP) growth by 2014-15 fiscal. Most of the projected private sector finance will come in the form of public private partnership and foreign direct investment during the five years of its implementation period, Prof. Shamsul Alam, member of the GED, said. The General Economics Division (GED) under the Planning Commission has framed the sixth five-year development plan to implement it during the period from 2010-11 fiscal to 2014-15 fiscal. The development plan will be followed by all the government agencies to upgrade the country's rickety infrastructure and achieve double-digit GDP growth by 2021 cutting poverty to less than 15 per cent. The GED has prepared the sixth five-year plan targeting a double-digit economic growth by 2021 and eliminating regional development disparity. The five-year plan targets the investment-GDP ratio to 32.5 per cent by FY2015 from the current 24.5 per cent. The government in 2009 decided to reinstate the five-year development plan of Bangladesh from the FY2010-11 after eight years of discontinuation since 2002. The development guideline targets boosting the per capita income of the people to US$1,000 by the year 2015 and to achieve 100 per cent literacy by FY2015. Since Bangladesh's electricity coverage is very low in this sub-continent, the plan aims to cover cent per cent of the population under electricity facilities by 2021 producing 15,000 megawatt power. After discontinuing the five-year plan in 2002, Bangladesh introduced donor-advised first poverty reduction strategy paper (PRSP) in July 2005 when the country set target to achieve the millennium development goals (MDGs) by the year 2015.