According to officials, ERD is working to ensure quick implementation of the development projects.
Meanwhile, the ERD proposal on the matter has been supported by the monitoring committee on Fast Track Projects.
It will also incorporate the provision of land acquisition worth Tk5 crore with the permission from the respective ministries and divisions while it will be necessary to get the consent from Prime Minister Sheikh Hasina for the land acquisition of above Tk50 crore.
ERD proposal titled ‘The alter of the structure and process of implementation of the development project to expedite’ will be placed at the next cabinet committee on economic affair meeting.
Meanwhile, the development spending improves slightly in the first quarter of the current fiscal year but it is still lagging far behind the historical trend.
Between the months of July-September, the ministries and divisions put to use 8.75% of their total outlay for fiscal 2015-17, which from 7% they managed a year earlier ago.
Some Tk 10,788 crore was spent in the first three months of the fiscal year, in contrast to Tk 6,806 crore, according to statistics from the Implementation, Monitoring & Evaluation Division.
The ADP outlay for this year is Tk123,346 crore, which includes the development allocation for the state-owned enterprises. Of the amount, Tk110,700 crore would come from the government budget.
The ADP allocation for the fiscal 2016-17 seems to be higher in nominal terms and it has crossed US$12.7 billion mark, said the World Bank in its latest release on Bangladesh Development Update.
According to the new implementation policies for the development projects, the ministries and divisions will create separate ‘development expenditure’ for implementing the development projects.
Ministries and divisions will form a preparation team for the development projects which will prepare the bidding document and sign the contracts for the development projects.
The ministries and division will, however, not be able to spend funds for the employment of new human resources and new motor vehicles normally used by the preparation team, reveals the ERD proposal.