NEC okays Tk 1.81 lakh crore development budget

National Economic Council (NEC) today approved Tk 1.81 lakh crore development budget, giving emphasis on accelerating construction works of some flagship infrastructure projects like the Padma bridge, Rooppur power plant and Dhaka metro rail.

The amount is 14.56 per cent higher than current year's Tk 1.58 lakh crore.

In the budget, the allocation for the state-owned enterprises is Tk 7,000 crore, down 14.59 per cent from the current year.

Planning Minister AHM Mustafa Kamal told this to journalists after an meeting at the NEC conference room at Sher-e-Bangla Nagar in Dhaka this afternoon.

ECNEC Chairperson and Prime Minister Sheikh Hasina chaired the meeting.

This fiscal year, Tk 4,000 crore has been allocated for the Padma bridge, and as of January Tk 700-800 crore has been spent, so it is highly unlikely that the entire amount would be exhausted by June 30, he said.

The total estimated cost of the project is Tk 28,793 crore and as of March, 53 per cent of the sum has been used.

Big chunks must also be earmarked for the Rooppur power plant, Dhaka metro rail, Karnaphuli tunnel and Matarbari coal-based power plant projects as well in fiscal 2018-19.

Though there were some problems in the initial stage, work for the projects is well under way. In the upcoming ADP, the government's own fund may be increased 16.59 per cent to Tk 1.13 lakh crore and foreign fund 15.27 per cent to Tk 60,000 crore.

The allocation for the state-owned enterprises would be Tk 7,869 crore, down 14.59 per cent from the current year. In the proposed ADP, the transport sector will get the highest allocation of Tk 45,449 crore, which is 26.27 per cent of the entire budget.

It is followed by the power sector, which will get Tk 22,930 crore -- 13.25 per cent of the total allocation.

Physical planning, water supply, housing will get Tk 17,890 crore; rural development organisations Tk 16,690 crore; education and religion Tk 16,620 crore; science, information and communication technology Tk 14,210 crore; health Tk 11,905 crore; agriculture Tk 7,076 crore; water resources Tk 4,592 crore, and public administration Tk 3,361 crore. On March 7, the ADP for the current fiscal year was revised. The government's contribution remained the same at Tk 96,331 crore but the foreign fund component was slashed 8.68 per cent to Tk 52,050 crore.