PM directs dousing inflation, curbing spendthrift expenditure

Strict orders come from the prime minister for containing high inflation that is worsening consumer woes through price rises and checking fund misuse done through spendthrift expenditure.
The twin-directions were given by Sheikh Hasina at Tuesday's ECNEC meeting that endorsed 20 development projects involving an aggregate cost of over Tk 140 billion, reporters were told in a press briefing.
"She emphasised reducing the inflation rate further through various measures and policies. She also asked for averting waste and unnecessary spending of public funds," Planning Minister MA Mannan quoted the premier as saying.
"But, it's not possible to bring down inflation by force or overnight. We've brought down inflation over the last four months, and I think the inflation rate will also decline in the outgoing month," Mr Mannan told the reporters after the Executive Committee of the National Economic Council (ECNEC) meeting.
The ECNEC-approved 20 projects would cost the exchequer a total of Tk140.78 billion.
Asked about Bangladesh being unable to join BRICS at the bloc's summit--which generated pessimistic remarks at home--the planning minister said: "Bangladesh is already in the 'veranda' of a house and waiting to enter into the main room with other countries."
He mentions that Bangladesh has availed one-percent share in the NDB or New Development Bank of BRICS and holds hope that the country would join the BRICS in future through completion of some formalities.
Regarding joining NDB, an initiative of BRICS, Sheikh Hasina said the multilateral bank has opened up a new window for Bangladesh to get more investments for the country's development alongside the help from other development partners like the World Bank, the Asian Development Bank and the AIIB.
"This is the sign of our enhanced capacity and now we'll be able to take loans from where we'll get better outcomes through negotiations," she told the meeting of the highest government body on economic planning.
Mr Mannan said Prime Minister Hasina directed all the executing agencies concerned to complete projects with high priority.
Analysts say time escalation leads to cost escalation of many development projects in Bangladesh, especially the mega-projects.
Citing a project at Hatia Island in Noakhlai, the head of government suggested building up green belt or afforestation surrounding the island in the Bay of Bengal like the Sundarbans mangrove forest.
On the project related to modernization of hospitals, she asked all concerned, including the Ministry of Health, to ensure infrastructures as well as the necessary manpower and medical equipment so the health centres could be operated smoothly from the outset.
Asked about the trend of revision of project time and again, Mannan said the prime minister is "very much aware" about the matter.
Revision of projects usually happens due to fluctuations in the exchange rate coupled with some other issues for which the Ministry of Planning and other implementing agencies are continuously giving their efforts to address the issue, he added.
The planning minister said the ADB conducted feasibility study on the Dohazari-Cox's Bazar railway route which experienced some damage due to the recent flooding.
Tuesday's approved projects' combined cost of Tk140.78 billion constitute Tk 124.09 billion from Bangladesh's internal sources and Tk 6.19 billion from the implementing agencies' own funds and the rest Tk 10.49 billion as project assistance from external sources.
The approved projects are: establishing 50 technical training centers (TTC) at upazila level in the country that costs Tk 37.51 billion, Smallholder Agricultural Competitiveness Project (SACP) (2nd revised) at an additional cost of Tk 4.19 billion, Important Rural Infrastructures Development of Gopalganj district, 2nd phase, at Tk 8.15 billion, Climate and Disaster Resilient Small-Scale Water Resources Management Project (CDRSSWRMP) at Tk 22.36 billion, Implementing protection works for protecting the infrastructures built on Noler Char at Hatia upazila of Noakhali district from the river erosion of Meghna River at Tk 3.78 billion.
Also endorsed are Shubhadda Khal re-excavation alongside development and protection of both sides of the Khal under Keraniganj upazila in Dhaka district, 1st phase, at Tk 3.17 billion, Mohananda River Dredging and Construction of Rubber Dam under Chapainawabganj Sadar Upazila,(2nd revised) at an additional Tk 643 million, Construction of new building for Bagerhat Collectorate at Tk 1.30 billion, Modernization of Hossain Shaheed Suhrawardy Children's Park at Tk 6.03 billion, and Inauguration of two connecting roads from Purbachal 300-foot road to Madani Avenue projects at Tk 3.10 billion.
The other projects approved in the meeting are: Construction of Borobhanga Bridge on the 25th kilometer of Sylhet (Telikhal)-Sultanpur-Balaganj (Z-2013) Highway under Sylhet Division at Tk 1.26 billion, Ramerkanda-Lakirchar connecting road development project under Munshiganj Roads Division at Tk 5.14 billion, Establishment of 500-bed hospital and ancillary building in Jashore, Cox's Bazar and Pabna and Abdul Malek Ukil Medical College and Nurul Haque Modern Hospital, Noakhali, (1st revised) at an additional cost Tk13.12 billion, Child, Maternal and health management component: Modernization of diagnostic imaging system at medical college hospitals of eight divisional cities, (1st revised) at an additional cost of Tk 1.94 billion, Expansion of infrastructures and academic operations of Khulna University of Engineering and Technology, (1st revised) at an additional cost of Tk 3.87 billion, Leaving No One Behind: Improving Skills and Economic Opportunities for the Women and Youths in Cox's Bazar, Bangladesh at Tk 1.78 billion, Construction of Patuakhali Export Processing Zones at Tk14.43 billion, Economic Census 2023 at Tk 5.79 billion, Establishment of gas distribution pipeline network at Rangpur, Nilphamari, Pirganj town and adjacent areas, (1st revised) at an additional Tk 685 million, construction of Syedpur 150MW Simple Cycle based power plant, (1st revised) at an additional cost of Tk2.49 billion.
Ministers, state ministers, Planning Commission members and secretaries concerned attended the meeting.

kabirhumayan10@gmail.com