ECNEC Approves Tk 2,555Cr Project to Boost Capacity of Local Govt Bodies

The Executive Committee of the National Economic Council (ECNEC) today approved a Taka 2,555.25 crore big project to enhance the capacity of the urban local government bodies in their recovery from the Covid-19 pandemic alongside strengthening their preparedness in facing such situation in the future.

The approval came in the 12th ECNEC meeting of the current fiscal year (FY22) held today with the ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair.

The Premier joined the meeting virtually from her official Ganobhaban residence while Ministers, State Ministers, Planning Commission members and Secretaries concerned attended the meeting from the NEC Conference Room in the city's Sher-e-Bangla Nagar area.

Briefing reporters after the meeting, Planning Minister MA Mannan said that a total of 12 projects were approved today involving an overall estimated cost of Taka 15,744.56 crore.

"Of the total project cost, Taka 11,674.83 crore will come from the government of Bangladesh portion, Taka 1.20 crore from the concerned organization's own fund while the rest of Taka 4,068.53 crore from project assistance," he added.

Of the approved 12 projects, 11 are new while another one is a revised project.

Revealing some directives of the Premier in the meeting, the Planning Minister said that the Prime Minister asked the authorities concerned to increase afforestation in the coastal areas as well as expanding the coverage of the mangrove forests.

Sheikh Hasina stressed the need for expanding cultivation of the soybean and sunflower in the county to produce more edible oil to meet the growing demand.

But, more research is needed in this regard for which necessary funding will be ensured.

The Prime Minister asked the authorities concerned to ensure culverts on the roads in the rural areas so that the natural flow of water is not hindered. Besides, she stressed that the bridges should have to be built in such height so that the boats and other river vessels can easily move under the bridges.

State Minister for Planning Dr Shamsul Alam said the Premier observed that if the successors of the lower level Bangladesh Railway staffs (cleaner, signaling staff) have proper qualifications, then the existing quota of maximum 40 percent could be continued for them.

At the very outset of the meeting, the Planning Minister said that the ECNEC greeted the Premier for attaining 100 percent electricity coverage in the country alongside inaugurating the Payra Power Plant.

To rein in the inflation trend, Mannan said that the government has increased market intervention while essential items are being provided to some one crore families at an affordable price.

"It's expected that the bite of inflation is reducing and hopefully within the next few days, the inflation trend will be under control," he added.

Mannan said the major macroeconomic indicators are now strong while the inward remittance flow is also positive.

Answering to a question, he said that the government respects the opinions and studies of others including various think tanks.

But, based on the data of the Bangladesh Bureau of Statistics and other government agencies, good results are coming out in terms of per capita income, power usage and life expectancy.

State Minister for Planning Dr Shamsul Alam said that despite the global inflation trend alongside the war between Russia and Ukraine, the government has been handling the inflation situation nicely compared to other countries.

He informed that the general point to point inflation rate is 6.1 percent in Bangladesh which is 15.1 percent in Sri Lanka, 12.2 percent in Pakistan, 10.4 percent in Brazil, 340 percent in Venezuela, 52.3 percent in Argentina, 54.4 percent in Turkey and 9 percent in UK.