• Wednesday, September 24, 2014

Development projects off to a slow start

Star Business Report

ADP implementation dropped 1 percentage point year-on-year in the first month of the fiscal year owing to slow utilisation of foreign fund.

Only 2 percent, or Tk 1,847 crore, of the total allocation for Annual Development Programme (ADP) was used in the month of July -- the lowest implementation rate in four years.

Of the amount, Tk 1,458 crore came from the government's own fund and the rest from foreign funds. The rate of foreign fund utilisation dropped 23 percent year-on-year in July, but the government's own fund utilisation increased 18 percent.

Among the ten ministries and divisions with the highest allocations, the bridges division came on top in terms of implementation: it exhausted 7 percent of its allocations in July.

It was followed by the local government division, which implemented 5 percent of its funds, power division at 2 percent and health ministry 1 percent.

The performance of the other six large ministries and divisions is very poor, with some not even spending a single taka the whole months.

Published: 12:00 am Monday, September 01, 2014

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