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The Executive Committee of the National Economic Council (ECNEC) on Sunday approved 16 development projects, including the Marine Infrastructure Development at the Bay Terminal.
Of those, 13 are new initiatives, while the remaining three are revised proposals.
The ECNEC approved two projects - one for drilling two deep exploration wells at Titas and Bakhrabad gas fields and the other for strengthening the drilling capacity of Geological Survey of Bangladesh (GSB) proposed by the Energy and Mineral Resources Division (EMRD) - with a cost of Tk 9.11 billion.
Once completed, the initiatives are expected to add 25 MMCFD of gas to the national grid - 10 MMCFD from Titas and 15 MMCFD from Bakhrabad, said Planning Commission officials.
The total new investment for the 16 projects is estimated at Tk 242.47 billion, with Tk 167.2 billion - nearly 69 per cent - expected to come from external loans and grants.
The government will contribute Tk 30.01 billion from its exchequer, and the implementing agencies will provide Tk 45.26 billion from their own resources, said Planning Adviser Dr Wahiduddin Mahmud.
He shared the details during a press briefing at the NEC auditorium in the capital following the ECNEC meeting chaired by Chief Adviser Dr Muhammad Yunus in the same place.
Wahiduddin stated that the support project for the Bay Terminal, with an estimated cost of Tk 135.26 billion, including Tk 93.33 billion in loans from the World Bank, will facilitate the development of infrastructure for four container terminals under Chittagong Port Authority (CPA).
The four terminals - planned to be developed and operated under a public-private partnership (PPP) model - would significantly boost CPA's operational capacity, he added.
In addition to outlining the details of the approved projects, the planning adviser spoke candidly about corruption and inefficiencies in the social safety net programmes (SSNP), the unnecessary and excessive costs of consultants in foreign aid-dependent projects, and the Teesta Barrage Project status.
The ECNEC approved three projects under the title "Bangladesh Sustainable Recovery, Emergency Preparedness and Response Project (B-STRONG)" to support recovery efforts from the damage caused by floods that affected the country's southern region in August and September last year.
The combined cost of the three projects has been estimated at Tk 27.69 billion, with Tk 24.90 billion - around 90 per cent - expected to be financed through World Bank loans.
The meeting also approved a project titled "Strengthening Social Protection for Improved Resilience, Inclusion and Targeting (SSPIRIT)" with an estimated cost of Tk 9.04 billion, supported by the World Bank, to provide cash assistance to 4.5 million poor and vulnerable people.
Another project titled "Chattogram Water Supply Development" is to be implemented by Chattogram WASA with an estimated cost of over Tk 39.21 billion.
The meeting also approved the first revised proposal for a project to enhance sewerage capacity in Chittagong City Corporation area, with the new cost estimated at Tk 52.19 billion, marking a 37 per cent increase from the original estimate of Tk 38.09 billion.
China has agreed in principle to finance the Teesta Barrage Project, but the government has yet to prepare a comprehensive plan, said Wahiduddin.
Responding to a question from journalists, he said discussions on the project have been going on for years, but no complete plan has been developed to fully utilise the Teesta water without India's cooperation.
He raised questions about whether reservoirs could be built or if the water could be retained effectively.
"China provided a preliminary design for the project several years ago, but it cannot be considered a fully developed plan. As a result, the project remains in a conceptual phase, with key issues still unresolved, such as the feasibility of utilising the water effectively," he explained.
Tackling corruption and inefficiency in SSNP could save half the government's spending in this sector, he said.
The adviser also stated that half the individuals currently receiving SSNP benefits intended for the poor are not actually poor, and addressing this could either redirect the saved funds or double the allowances for deserving beneficiaries.
The ECNEC approved a project costing Tk 9.04 billion, which would allocate Tk 3.15 billion for the administration and Tk 5.89 billion for cash transfers. Operational costs will account for Tk 54 for every Tk 100 transferred.
The project also proposes over Tk 1.94 billion for consultancy services, with some consultants earning up to Tk 0.60 million per month.
Responding to a question on the justification of the project, the adviser said a significant portion of the funds allocated for the social security sector cannot truly be considered part of social security.
"The government spends a large sum on various programmes. If so much money is being spent on the administration, what is actually reaching those in need?" he questioned.
Wahiduddin blamed development partners for high consultancy costs, stating that foreign loans often come with unnecessary consultants.
He noted that while this issue has persisted throughout his career, the current project is less problematic as it introduces a social registry for the first time.
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