BSS, DHAKA : The Executive Committee of the National Economic Council (ECNEC) Tuesday approved five development projects involving Taka 640 crore including a pharmaceuticals park project. The pharmaceuticals park project involving Taka 331.86 crore aims at creating some 25,000 direct employment in the country. The approval was given at its meeting held at the NEC conference room in the city’s Sher- e-Banglanagar with ECNEC chairperson and Prime Minister Sheikh Hasina in the chair. Planning Minister AHM Mustafa Kamal said the ECNEC approved five development projects at a cost of Tk 640 crore while briefing the reporters after the meeting. “Of the total cost, TK 558 crore will come from the government source while the remaining Tk 82 crore will come from organisation’s own fund,” he added. Planning Commission sources said that the revision was due to project time extension, delay in land acquisition, re- estimation following new rate schedule and adding new component to the project. Under this project, a pharmaceutical industrial park would be established on a 200 -acre area plot at Baushia and Laxmipur mouza beside the Dhaka-Chittagong highway under Gazaria Upazilla of Munshiganj district. The pharmaceutical park will accommodate industries on 42 plots to produce active pharmaceutical ingredients. The revised project cost stands at Tk 332 crore which was TK 233 crore at the first revision and TK 213 crore at the original approval stage. Replying to a question on the possible Development budget cut in the revised ADP of the current fiscal , Mustafa Kamal said they are trying to increase the allocation rather than going for curtailing it. The planning minister said his Ministry would work keeping close monitoring with the line ministries in a bid to increase implementation of the ADP. Kamal also said he along with the concerned secretaries and planning commission members would work as a team to deliver better outcomes. He also informed the media that so far some 157 projects during the current fiscal year were approved at the ECNEC meeting including 97 new projects and 60 ongoing projects with an outlay of TK 95,829 crore. Of the amount, TK 54,817 crore will come from the government fund while TK 38,237 crore as project assistance apart from TK 2,775 crore from the concerned organizations. The other projects approved in the meeting are: “Establishment of pulse and oil seed multiplication farm and seed processing center at Subarnachar Upazilla of Noakhali district” project (TK 34 crore-GoB); “Rehabilitation of old deep tube-wells in Rajshahi, Naogaon and Chapinawabgonj district” project (TK 77 crore-GoB); “Vertical expansion of district judge court building with ancillary facilities in 28 district” project (TK 150 crore-Gob) and “Dohar-Katakhali-Nikra-Galimpur-Tikarpur road development” project (TK 46 crore-GoB).