Hundreds of ADP projects to be axed for failing to meet ROI, job-creation and green standards: Finance Minister
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Finance and Planning Minister Amir Khasru Mahmud Chowdhury on Sunday said the government has decided not to undertake projects that fail to ensure returns on investment, employment generation and environmental sustainability.
He said many of the nearly 1,300 projects currently under the Annual Development Programme (ADP) do not meet these criteria and would be cancelled.
The minister made the remarks while addressing the inauguration ceremony of a project at the Palli Karma-Sahayak Foundation (PKSF) Auditorium as the chief guest.
PKSF Chairman Zakir Ahmed Khan presided over the event marking the launch of the second phase of the Recovery and Advancement of Informal Sector Employment (RAISE-2) project.
Financial Institutions Division Secretary Nazma Mobarek attended the programme as a special guest, while Acting World Bank Divisional Director for Bangladesh and Bhutan Dr Gail H Martin joined as the guest of honour.
“Many ongoing projects have little or no prospect of generating investment returns and fail to create employment opportunities,” the minister said.
In view of these concerns, the government has decided not to take up any new mega projects, he added.
The minister also stressed the need to establish democracy in the economy alongside political democracy.
“Due to oligarchic dominance, many people remain excluded from the mainstream economy. They must also be brought into the economic system,” he said.
Officials at the event said the second phase of the project aims to provide skills development and financial support to another 0.2 million youths, following the successful support extended to 0.21 million beneficiaries under the first phase.
PKSF Managing Director Mohammad Fazlul Kader delivered the welcome address.
Speakers at the programme said more than 0.42 million people are expected to benefit directly from the project by 2030.
Under the second phase, priority will be given to youths from climate-vulnerable areas, including chars, haors, hill tracts and coastal regions. Special emphasis will also be placed on the inclusion of Dalits, ethnic minorities and persons with disabilities.
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