The government has drafted a policy on the Project Preparatory Fund (PPF) aiming to facilitate timely and successful implementation of its development projects, officials said.
The main objective of the fund is to provide for completion of preliminary activities before the launch of any development project, they said.
Financing scopes will be identified through the management committee of the proposed fund, according to the draft policy.
Realising the necessary fund, completion of the land acquisition before implementation, required directives on fixation of expenditure and period and expenses limit will be carried out by the fund committee, the draft policy has mentioned.
A high official at the Planning Commission, who is well conversant on the issue, said costs of different development projects have been increasing manifold due to lack of related preparation work before taking up of the projects.
Besides, it takes more time for implementation of those projects, he added.
The proposed fund will bear the costs of land acquisition, feasibility study and environmental impact assessment (EIA) of the development projects, a source at the ministry of planning said.
Different important development projects limp before undertaking mainly for lack of necessary preparatory funds and land acquisition, he said.
Land acquisition will be completed through the new fund before taking up of a project under ADP (Annual Development Programme) to reduce complexities in land acquisition that delays project implementation, he said.
A number of large projects experience difficulties mainly due to complexities in land acquisition which increases the project costs and extends the implementation time, sources concerned said.
A final draft policy for formation and using modality for the PPF has already been sent to the fast track project monitoring task force under the Prime Minister's Office (PMO) for taking final decision, a senior official said.
Besides, the fast track project monitoring task force can make changes and corrections before finalising the policy, he added.
An inter-ministerial committee prepared the policy which is finalised after reviewing, he also mentioned.
A separate block allocation will be included in the ADP for the proposed fund.
The target of allocation in the fund will be fixed by the Finance Division and Planning Commission.
The decision on establishment of the fund was taken at the 6th meeting of the task force on fast-track project monitoring under the PMO.
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Govt drafts policy to help execute dev projects in time
Rezaul Karim | Published: April 08, 2016 00:00:00 | Updated: February 01, 2018 00:00:00
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