QUOTING the economists, the New Nation on Saturday reported that the country is lagging far behind its regional competitors in developing basic infrastructure as well as improving the dilapidated communications network. Though poor physical infrastructure has been identified as the major constraint for long-term economic growth for Bangladesh, the successive governments did not pay due attention to sustainable infrastructure development. Nevertheless, almost all the mega projects taken aiming at infrastructural development, such as Dhaka-Chittagong 4-Lane Project, Padma Bridge Project, Dhaka-Chittagong Expressway, Metro Rail, Rooppur Nuclear Power Plant and others, show signs of corruption and money siphoning.
Delays in implementation of the projects, including Dhaka-Chittagong and Dhaka-Mymensingh four lanes, are also pulling back the country’s economic growth. Initiated in 2006 to upgrade the highway in three years at a cost of Tk 2,382 crore, the 192-kilometres of the Dhaka-Chittagong 4-Lane Project remains stalled. That resulted in escalation of projects cost and a widening scope for corruption. The dilapidated road communications not only cause sufferings to the commuters but also worry the local businessmen as Roads and Highways keep the economy of a nation flowing. Businesses said that the poor road and rail communications, inadequate port facility, low and unsustainable access to electricity and gas also contribute in raising production cost that weakened competitiveness of local goods in international markets.
Despite steady 6pc annual growth rate over the years, experts are anxious over the projectile growth rate as the mega projects taken in the recent years have not yet been implemented mainly due to capital inadequacy, corruption, ineptness to implement mega projects, lack of technical and strategic support, and the government’s near isolation from the development partners. The derisory infrastructure also adversely affects the poverty reductions efforts, health and nutrition facilities and education projects. As the infrastructure deficiency is limiting productivity and capacity of the local industries, the government should take a comprehensive mega plan with all necessary apparatus to check corruption. And the implementation of the ongoing projects also need to be sped up to rescue the sinking economy.
To lure local and foreign investment in mega projects, the government should go all out to curve the corruption perception index; revive amicable relationships with international development partners, take hard stance against all pervasive corruption and administrative ineptness and most importantly rebuild confidence among the businessmen.
