Tk 2.46t ADP likely in next fiscal year

The government is likely to frame an expansionary Tk 2.46-trillion annual development programme (ADP) for the next fiscal year (FY), 2022-23, to facilitate economic recovery from the COVID-19 pandemic losses, officials said on Tuesday.

The transport and communications sector is going to grab an allocation of Tk 698.69 billion in the upcoming ADP, they noted.

The proposed ADP outlay is 19 per cent or Tk 384.50 billion higher than the current revised annual development programme (RADP) of Tk 2.07 trillion.

Besides, the draft outlay is Tk 210 billion more than the original ADP outlay of Tk 2.25 trillion in the current FY.

A senior Planning Commission (PC) official said the proposed ADP would receive Tk 1.53 trillion funds from the country's internal resources, while the rest Tk 930 billion from the external sources as project assistance (PA).

"We have already drafted the ADP worth Tk 2.46 billion for the next fiscal. Fund allocations for all the ongoing projects are being finalised. The work will be completed within first week of next month."

The National Economic Council (NEC) is likely to finalise the ADP at its meeting on May 17.

Before placing the proposed ADP before the NEC in May, the PC would complete the ADP final draft by May 10.

The official also said: "We are going to finalise the ADP for the next FY, increasing the allocations by 18.52 per cent from the current FY RADP outlay."

"We have given the highest priority to the transport sector, like the previous years, as huge investments are needed to improve infrastructure across the country," he added.

The power and energy sector is going to receive the second highest allocation of Tk 394.12 billion in the upcoming ADP, followed by Tk 290 billion by the education sector.

The housing and community facilities sector is likely to get the fourth highest allocation of Tk 246.97 billion in the next ADP, and the health sector the fifth highest of Tk 190 billion.

The current RADP has allocated the highest of Tk 558.27 billion to the transport and communications sector, followed by Tk 392.14 billion for the power and energy sector.

Besides, the housing and community facilities sector has got the third highest of Tk 236.48 billion outlay, the education sector the fourth highest of Tk 208.24 billion, and the local government and rural development sector the fifth highest of Tk 155.20 billion.

The government cut the original ADP by 7.89 per cent to Tk 2.07 trillion in March of this FY, as performance of the ministries and divisions concerned was bleak in project implementation.

The NEC endorsed the Tk 2.07-trillion RADP for the current FY, mainly by slashing the PA, which was trimmed down by Tk 177.74 billion to Tk 702.50 billion in the revised development budget.

However, the Tk 1.37-trillion outlay from the government's internal resources was unchanged in the newly approved RADP.

In the last FY, the PC finalised the RADP, trimming down the allocations by Tk 75 billion to Tk 1.97 trillion from Tk 2.05 billion.

In the previous FY (2020), the government revised the ADP to Tk 1.93 trillion from the original outlay of Tk 2.02 trillion.

[email protected]