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Tk 18,293 crore rolling uplift programme finalised

By Moazzem Hossain
Planning Commission has finalised a Taka 18.923.00 crore development programme in public sector for 1990-93.
The programme is the first major exercise of the Planning Commission under the interim government. It has been drawn up on the basis of a polling three-year financial plan.
Planning Commission sources said the programme was developed on the basis of a realistic estimate of resource availability'. It shows separately the requirement for spill-over and new projects as well as foreign exchange and local currency requirement for each project, they noted.
The programme accommodates the financing needs of the Jamuna Multipurpose Bridge Project, special flood control measures and primary education development.
Explaining its rationale, the sources said that the programme would serve as the operational document for determining the priority areas of public investment and selecting new projects. This is essentially a resource-based investment programme incorporating clear procedures to contain the number of new projects within the projected resource envelope and to assess their relative priorities" they observed.
The new investment programme may be "integrated" with the Fourth Five year Development Plan. About 30 task forces set up by the in tcrim Government are working now on alternative policy options in various sectors under the Fourth Plan. The political government that comes to power after February 27 parliamentary polls will finally decide about the plan, the sources said.
Meanwhile, the World Bank which chairs( Bangladesh aid group meetings and coordinates most aid flows to the country was informed last week about the new rolling investment programme.
The donor community at their mid-term review meeting in Dhaka in November suggested for such an investment programme. The failures to define a "realistic resource envelope" to underpin development activities till the recent past caused serious anxiety among the donors.
The donors pleaded for avoiding overprogramming of public investments that often In the past lad to stretching of domestic taka resources very thinly over a growing pipeline of projects. This caused slowing of project implementation and reduced the ability of the Government to use external assistance effectively, according to leading multilateral and bilateral donors.
Planning Commission so.urccs noted lliat the scope for any sound investment programmes under the Ershad regime in the public sector was getting progressively limited because of a large number of projects of 'presidential commitments.' Such commitments were used to be announced by the former President spontaneously in public meetings and were not part of the medium term plan or Annual Development Programme. Besides, the planning discipline was eroded by a large number of on-going, projects that spilled over from one plan to the next. the. sources said.
Under the new three-ycar rolling investment programme. Planning Commission has. on a tentative basis, indicated the size of development expenditures at Taka 5668 crore. Taka 6248 crore and Taka 7007 crore for 1990-91. 1991-92 and 1992-93 respectively. All the figures under the programme are in constant 1990-91 prices.