BSS, Dhaka :
Planning Minister AHN Mustafa Kamal on Sunday suggested the officials concerned to speed up utilization of foreign fund in the projects so they can spend the entire allocated amount within the stipulated time.
“We find differential performance in spending of the locally and foreign funded projects across the country,” the minister said as he was addressing the project directors at the NEC in the capital city.
Some 700 directors of various development projects attended the meetings, which were arranged in two separate sessions.
The planning minister said it was noticed that the project directors were not as comfortable in spending of foreign funds as they were seen in utilizing the funds from local sources.
“This attitude is not expected, and we with cooperation from the Economic Relations Division (ERD) would soon find a way to change the attitude,” the minister said.
Kamal asked the project directors to readdress the unused funds by March.
He said the government wants to faster further the project implementation process as less implementation time lowers the cost of projects.
“So, necessary funding would be prioritized for the projects those could be completed by this year”, he said.
For faster project implementation, the minister suggested completing the purchase related activities in the first three months of the financial year, otherwise project are delayed if these jobs are done in the middle of the financial year.
Besides, he said, “We can identify the challenges in implementation if we can analyse the total implementation at the beginning of the financial year.
Kamal also advised the ministries concerned for refraining from frequent transfer of project directors, which often delays implementation of projects.
The minister will have a similar meeting on March 19 as a part of the planned meeting with project directors, aiming at expediting project implementation process.
State minister for planning and finance MA Mannan also attended the meeting.
Planning Minister AHN Mustafa Kamal on Sunday suggested the officials concerned to speed up utilization of foreign fund in the projects so they can spend the entire allocated amount within the stipulated time.
“We find differential performance in spending of the locally and foreign funded projects across the country,” the minister said as he was addressing the project directors at the NEC in the capital city.
Some 700 directors of various development projects attended the meetings, which were arranged in two separate sessions.
The planning minister said it was noticed that the project directors were not as comfortable in spending of foreign funds as they were seen in utilizing the funds from local sources.
“This attitude is not expected, and we with cooperation from the Economic Relations Division (ERD) would soon find a way to change the attitude,” the minister said.
Kamal asked the project directors to readdress the unused funds by March.
He said the government wants to faster further the project implementation process as less implementation time lowers the cost of projects.
“So, necessary funding would be prioritized for the projects those could be completed by this year”, he said.
For faster project implementation, the minister suggested completing the purchase related activities in the first three months of the financial year, otherwise project are delayed if these jobs are done in the middle of the financial year.
Besides, he said, “We can identify the challenges in implementation if we can analyse the total implementation at the beginning of the financial year.
Kamal also advised the ministries concerned for refraining from frequent transfer of project directors, which often delays implementation of projects.
The minister will have a similar meeting on March 19 as a part of the planned meeting with project directors, aiming at expediting project implementation process.
State minister for planning and finance MA Mannan also attended the meeting.
