The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved a Tk 5651.13 crore (over 56.51 billion) project for construction of elevated road from Mithamoin upazila to Karimganj upazila in Kishoreganj district to ensure smooth and uninterrupted road communication in all weathers.
The approval came from a meeting of the ECNEC with its chairperson and Prime Minister Sheikh Hasina in the chair at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area.
Briefing newspersons after the meeting, planning minister MA Mannan said that the day’s meeting approved a total of 11 projects involving an overall estimated cost of nearly Tk 106.41 billion. “Out of the total cost, over Tk 78.27 billion will come from the government of Bangladesh portion while over Tk 28.80 billion as project assistance.”
State minister for planning Shamsul Alam, planning commission members and concerned secretaries were present at the briefing.
Of the approved 11 projects, six are new while five are revised projects.
The planning minister said that the main objective of the elevated road construction project is to establish smooth road communication in the haor region from Mithamoin to Karimganj upazila connecting the Mithamoin Cantonment.
Besides, some 13.40 kilometer existing road from Nakbhanga circle to Morichkhali Bazar would be widened in order to establish smooth and uninterrupted all weather road communication of Itna, Mithamoin and Austagram upazilas with Kishoreganj Sadar, Dhaka, Sylhet and other districts.
Foreign currency reserve is not the only thing to measure the country’s economic strength. Rather other indices like import, export, remittance and government borrowings should also have to be consideredShamsul Alam, State minister for planning
The main project operations include construction of 15.13 kilometre elevated road, widening of 13.40 kilometre existing road, construction of four bridges, construction of 13 toll plazas, toll monitoring buildings and check posts, construction of 13 kilometre temporary submersible roads, four deep tube wells, four over bridges for pedestrians, construction of 40,468 square metre construction yard, 8,224 square metre bus stops and 151.09 acres of land acquisition.
Revealing some of the directives of the prime minister in the meeting, the planning minister said that she has directed again the authorities concerned and executing agencies to complete the development works within the stipulated timeframe with maintaining the quality of works.
Mannan said that the prime minister stressed again on conducting proper scrutiny before making expenditure.
State minister for planning Shamsul Alam informed that the prime minister has directed all to remain cautious in expenditure as well maintaining austerity in expenditure.
He also said that the head of the government has also urged all to ensure their participation in boosting the country’s production alongside motivating others to increase productivity.
The planning minister said that a brief on the country’s current economic situation was presented before the day’s ECNEC meeting which was also appreciated by all.
Asked whether a draft project on Electronic Voting Machine (EVM) was placed before the meeting or not, Mannan said that neither the project was in the list of discussion nor the prime minister wanted to know anything about it.
Asked whether a draft project on Electronic Voting Machine (EVM) was placed before the meeting or not, Mannan said that neither the project was in the list of discussion nor the prime minister wanted to know anything about it
“But, the draft project is under process and you’ll know about it when it will progress further,” he added.
Commenting on the current state of the economy, state minister for planning Shamsul Alam said that foreign currency reserve is not the only thing to measure the country’s economic strength. Rather other indices like import, export, remittance and government borrowings should also have to be considered.
He said that the foreign currency reserve was $32.51 billion on 11 January after the ACU payment while the export earnings were $2 billion higher during the July-December period of the current fiscal year (FY23) compared to the same period of the last fiscal year (FY22).
Besides, the inward remittance was also higher during this period with $10.49 billion and alongside a high FDI.
“Exports and inward remittances are increasing, thus giving a signal that the forex reserve will also increase. So, there is nothing to be worried about reserve. The inflation is also falling over the last few months,” Alam said adding that the shock of the global economic recession would not affect much the country.
Shamsul Alam further said that inflation is being calculated in the country in line with the globally acclaimed method.
He said the government has to keep a huge allocation every year in the budget as subsidy for which there is a need to make price adjustments in some areas.
The state minister said despite pressure, there is no price hike or adjustments in agri inputs like fertiliser.
The planning minister said that the Implementation, Monitoring and Evaluation Division (IMED) under the Ministry of Planning has conducted an in-depth study on the prime minister’s priority project ‘Ashrayan’ which was highly appreciated by the prime minister.
At the very outset of the meeting, the ECNEC extended a warm felicitation to Prime Minister Sheikh Hasina for her re-election as the Awami League president.
Responding to another question the state minister said that whatever the government highlights is based on data and information and there is nothing exaggeration.
Planning Division secretary Satyajit Karmakar said that the meeting was apprised that foreign funded projects worth $1.66 billion were approved at the ECNEC over the last six months while these projects would be implemented over the next three to four years.
The other projects approved in the meeting are Construction of Multipurpose Hydraulic Elevator Dam on the Srimai River under Patia upazila of Chattogram with nearly Tk 1.34 billion, Protecting Sheikh Hasina Cantonment area from the erosion of Karkhana, Bighai and Payra River under Barishal district, 1st phase with Tk 6.76 billion, Padma River dredging and protection of left embankment from Majhirchar to Moksedpur via Narishabazar under Dohar upazila in Dhaka, 1st revised with an additional cost of over Tk 5.28 billion, Adaptation initiative for the small islands and river Char lands in the coastal areas vulnerable to climate change with Tk 778.6 million, Matarbari coal-based power station construction project (roads and highways department portion, 2nd revised with an additional cost of nearly Tk 3.65 billion.
The remaining projects approved in the meeting are Construction of multilane tunnel under Karnaphuli River, 2nd revised with an additional cost of over Tk 3.15 billion, Establishment of global maritime distress and safety system & integrated maritime navigation system (EGIMNS) project, 3rd revised with an additional cost of Tk 924.6 million, Inclusive sanitation at 25 towns in Bangladesh with nearly Tk 22.11 billion, Climate Change Adapted Urban Development, Phase II (CCAUD), Khulna with over Tk 4.91 billion and Ghorashal, 4th unit re powering project, 2nd revised with an additional cost of Tk 994.6 million.
Ministers, state ministers, planning commission members and secretaries concerned attended the meeting.