Sixth 5-year dev plan to need Tk 13.3t fund
Monday, 24 January 2011
FHM Humayan Kabir
Bangladesh will require Tk 13.3 trillion fund for implementing the proposed sixth five-year development plan to cut poverty by 10 percentage points and boost economy at an average rate of 7.3 per cent during its five-year execution period up to FY 2015.
Planning ministry officials said Tk 12.36 trillion, 92.8 per cent of the total fund, will be mobilised from the domestic resources, and the rest 7.20 per cent or Tk 965.2 billion from the external resources.
"In the upcoming development plan, we will target a huge private sector investment to fulfill the goals of poverty eradication and boost economic growth," Prof. Shamsul Alam, member of the General Economics Division (GED) under the planning ministry, told the FE.
Out of the Tk 13.32 trillion projected cost, the drafted development blueprint has targeted Tk 10.356 trillion investment from the private sector, and Tk 2.97 trillion from the public sector.
"Most of the projected private sector finance to the five-year development plan will come in the forms of public private partnership (PPP) and foreign direct investment (FDI)," Prof Alam said.
The GED member said the upcoming five-year plan would be different from the previous five-year plans.
"The document will not only consist development plans, it will also have some policy guidelines for boosting the country's economy and make a hunger-free nation," he said.
The GED has drafted the sixth five-year plan, likely to be finalised by March this year, targeting a double-digit economic growth by 2021 and elimination of regional development disparity.
The development plan will facilitate the country in alleviating poverty to 26 per cent from the present 38.7 per cent, and upgrade the industrial employment to 25 per cent of the population from the current 17 per cent by June 2015, its final implementation period.
The development guideline also targets to boost the per capita income of the people to US$1,000, and achieve cent per cent literacy rate by the FY 2015.
Since Bangladesh's electricity coverage is very low in this sub-continent, the plan aims to produce 15,000 megawatt power during its implementation period, so that cent per cent of the population can be brought under electricity coverage by 2021.
The ailing tele-density of the country would also be raised to 70 per cent by FY 2015 through investing a huge amount of money in the ICT sector, according to the drafted plan. It targets to increase the number of broadband internet users to 30 per cent from the current penetration rate of less than 10 per cent.
The government in 2009 has decided to reinstate the five-year development plan of Bangladesh from the FY 2010-11 after eight years of discontinuation.
After discontinuing the five-year plan in 2002, the then government introduced donor-prescribed first Poverty Reduction Strategy Paper (PRSP) in July 2005, where the country set the target to achieve the Millennium Development Goals (MDGs) by 2015.
Bangladesh will require Tk 13.3 trillion fund for implementing the proposed sixth five-year development plan to cut poverty by 10 percentage points and boost economy at an average rate of 7.3 per cent during its five-year execution period up to FY 2015.
Planning ministry officials said Tk 12.36 trillion, 92.8 per cent of the total fund, will be mobilised from the domestic resources, and the rest 7.20 per cent or Tk 965.2 billion from the external resources.
"In the upcoming development plan, we will target a huge private sector investment to fulfill the goals of poverty eradication and boost economic growth," Prof. Shamsul Alam, member of the General Economics Division (GED) under the planning ministry, told the FE.
Out of the Tk 13.32 trillion projected cost, the drafted development blueprint has targeted Tk 10.356 trillion investment from the private sector, and Tk 2.97 trillion from the public sector.
"Most of the projected private sector finance to the five-year development plan will come in the forms of public private partnership (PPP) and foreign direct investment (FDI)," Prof Alam said.
The GED member said the upcoming five-year plan would be different from the previous five-year plans.
"The document will not only consist development plans, it will also have some policy guidelines for boosting the country's economy and make a hunger-free nation," he said.
The GED has drafted the sixth five-year plan, likely to be finalised by March this year, targeting a double-digit economic growth by 2021 and elimination of regional development disparity.
The development plan will facilitate the country in alleviating poverty to 26 per cent from the present 38.7 per cent, and upgrade the industrial employment to 25 per cent of the population from the current 17 per cent by June 2015, its final implementation period.
The development guideline also targets to boost the per capita income of the people to US$1,000, and achieve cent per cent literacy rate by the FY 2015.
Since Bangladesh's electricity coverage is very low in this sub-continent, the plan aims to produce 15,000 megawatt power during its implementation period, so that cent per cent of the population can be brought under electricity coverage by 2021.
The ailing tele-density of the country would also be raised to 70 per cent by FY 2015 through investing a huge amount of money in the ICT sector, according to the drafted plan. It targets to increase the number of broadband internet users to 30 per cent from the current penetration rate of less than 10 per cent.
The government in 2009 has decided to reinstate the five-year development plan of Bangladesh from the FY 2010-11 after eight years of discontinuation.
After discontinuing the five-year plan in 2002, the then government introduced donor-prescribed first Poverty Reduction Strategy Paper (PRSP) in July 2005, where the country set the target to achieve the Millennium Development Goals (MDGs) by 2015.