The much-hyped development recipe dubbed as public-private partnership (PPP) would take more time to start as the government could not formulate the guideline yet.
Finance Minister AMA Muhith yesterday denounced the bureaucracy for holding back the process of formulating the PPP guideline, without which the private sector could not be invited to take part in the development projects.
He also said that an increase in the electricity price is in the offing, but rejected the apprehension of raising the price of fuel oil within a short time. Immediately after assuming office, the government embarked on the apparently new strategy in the country to finance development projects.
In its first budget after assuming office, the government also made an initial allocation of Tk 2,500 crore to facilitate PPP while expecting to start projects under the mechanism as soon as possible. Since then, the government has undertaken several initiatives, but so far failed.
“They (bureaucrats) do not want changes… progress of formulating the guideline is slow, as a result,” the Finance Minister said, talking to a delegation from the new executive committee of Economic Reporters Forum (ERF) at the ministry conference room. ERF president Monwar Hossain led the delegation.
During the exchange issues like review of the current budget, preparation for the next budget, development projects, revenue performance and introducing district-wise budget came up for discussion.
Muhith criticised the country’s private sector for having excessive dependence on the government support. “They want too much protection,” he said, adding that the garments manufacturers give almost nothing to the national exchequer. “Even then, we (government) provide support to the sector as they provide employment.”
He, however, expected that few power and transportation projects under PPP would begin in next 2-3 months and expressed frustration that there would not be any project this fiscal in the health and education sectors. Replying to a question, he said the government would continue with the stimulus package but with some minor changes in it. The government has already pledged Tk 3,500 crore from the total stimulus package of Tk 5,000 crore.
Replying to another question, Muhith said the plan to announce district-wise budget would not be possible from the next budget as the ministries concerned were not prepared for it. He said the next budget would include 12 more ministries to add with existing 20 ones under the mid-term budgetary framework for ensuring close monitoring of their budget implementation progress. He said there would be two revised budgets this year – one in March and another in June.
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