Special Correspondent :
Several mega projects saw a big cutback in funds due to delay in their implementation as well as inefficiency to utilise the funds.
Officials said that the cutback in funds under these projects stood at Tk 5,000 crore in the current fiscal year.
For example, the Padma Multipurpose Bridge Project, under the Bridges Division, has been given the allocation of Tk 4,395 crore in this fiscal’s Annual Development Programme (ADP). But the project saw a fund cut by 40 per cent or Tk 1,739 crore to Tk 2,656 crore in revised ADP due to executing agency’s inefficiency in utilising funds.
Of the revised allocation, the overall expenditure under the project reached Tk 1,684 crore in the first nine months of the current fiscal.
As of March 2019, nearly 70 per cent physical progress has been achieved in the construction of the long-awaited Padma Multipurpose Bridge, according to Bridges Division officials.
“The project saw fund cutback as the executing agency faced some technical hurdles in the bridges’ construction. This also slowed down the pace of the project’s implementation and thereby cut in budgetary allocation,” a Bridges Division official told The New Nation yesterday on condition of anonymity.
He, however, said that overall progress of Padma Multipurpose Bridge project is satisfactory.
On 28 August 2007, the caretaker government approved the Padma Bridge project with an estimated cost of Tk 10,161 crore. But the cost has increased at least threefold to Tk 30,193 crore and implementation is delayed by a few years.
Construction of the much-hyped bridge had begun on December 2015. China Major Bridge Engineering Company Ltd is implementing the project.
In the fiscal year 2018-19, the Metro Rail Project, under the road transport and highways division, has been given allocation of Tk 3,902 crore. The project saw a cutback of fund by Tk 1,414 crore in the RADP taking the actual allocation to Tk 2,488 crore in the current fiscal.
However, the implementing agency could utilise Tk 1,143 crore or 45.9 per cent of the total allocation in the first nine months of this fiscal.
The metro rail project will be completed by 2022, according to Japan International Cooperation Agency or JICA that is financing a major portion of the project.
The cost of the project is Tk 22,000 crore. Construction of the Metro Rail project began on 26 June 2016.
In the current fiscal year, Padma Bridge Rail Link Project received an allocation of Tk 5,330 crore. But it was brought down to Tk 3,290 crore in the revised ADP. Out of the allocation, the Railway Ministry could utilise only 5.0 per cent or Tk 163 crore funds in the first nine months of the current fiscal.
The Dohazari to Gundam Rail Line Project got Tk 1,450 crore allocation in the budget for 2018-19. As the project’s progress remained very slow, Tk 528 crore was cut from the project in the revised ADP making the actual allocation of Tk 921 crore in the current fiscal year.
The rail project was approved in 2010 and scheduled to complete by 2022.
“The projects are moving slowly and thus requires the cutback in budgetary allocation,” a planning commission official told The New Nation yesterday, asking not to be named.
He said the projects faced delay because of problems linked to land acquisition, tender and timely disbursement in foreign funds and lack of coordination.
Referring to delay in Padma rail link project, the planning commission official said the project faced a long delay in the beginning as the Chinese authorities took a long time to approve the loan for the project.
The aforementioned schemes are among those, which earlier enlisted under the government’s fast tack projects.
Other fast track projects are Rooppur Nuclear Power Plant, Paira Deep Sea Port and Matarbari Coal Power Project.
The fast track projects have received Tk 29,449 crore allocations in the current fiscal’s budget (2018-19).
“All of the fast track projects are running behind the schedule due to lack of capacity of the government agencies,” Economist Dr Ahsan H Mansur told The New Nation yesterday.
He said the government agencies sought higher funding during implementation of the ADP. “But in most cases, they failed to utilise the allocated funds because of lack of efficiency of the executing agencies. In most of the cases, they failed to complete projects within the stipulated time increasing the time and cost overrun.
When asked, Dr Ahsan H Mansur said, mega development projects are expected to have significant positive impact for the country. But delay in their implementation caused a huge burden to the national exchequer.
“Inefficiency in planning, lack of experience in dealing with such large scale projects and lack of transparency in selecting the implementing agency are some of the primary reasons behind such delays,” he added.
He noted that timely implementation of these mega projects was important for ensuring the maximum economic benefit.
