The Ministry of Housing and Public Works has sought time-bound action plans from its subordinate offices and agencies to implement the decision to introduce an April-March fiscal year (FY), replacing the existing July-June fiscal year.
To this end, the ministry has directed the concerned offices and agencies to review relevant laws, rules, circulars, statutory regulatory orders (SRO), contracts and memorandums of understanding (MoU) and submit plans for necessary amendments and coordination by Sunday.
The directive was issued in a letter by Administration Branch-6 of the ministry on October 15. Signed by Deputy Secretary Mohammad Abdul Awal, the letter was sent to various departments, authorities and relevant branches under the ministry, including the Rajdhani Unnayan Kartripakkha (Rajuk).
According to the letter, the government has decided to replace the long-standing July-June fiscal year with an April-March fiscal year. At a cabinet meeting held on August 17, it was decided to treat the 2027-28 fiscal year as a transitional fiscal year, with its duration shortened from 12 months to nine months, covering July to March of the following year.
Subsequently, the government planned to introduce the period from April 1 to March 31 as fiscal year from 2028-29, with government activities to be conducted accordingly.
The letter stated that the necessary legal framework for implementing the new fiscal year structure must be established before the start of the 2027-28 fiscal year, meaning the work must be completed within the current fiscal year.
It also said the change in the fiscal year would require necessary modifications and adjustments to the government's Annual Development Programme (ADP), overall development activities, national production and statistical frameworks and information technology and software-based systems.
Relevant government systems, including iBAS++, VAT and treasury management, would also need to be aligned with the new fiscal year.
The ministry further instructed that relevant laws, rules, circulars, SRO, contracts, MoU, and statistical and information technology frameworks under each ministry and division be reviewed thoroughly.
Based on the review, specific and time-bound action plans must be formulated by identifying areas requiring amendments, additions, revisions and coordination.
The initiative is expected to strengthen the legal and institutional foundations for government operations under the new fiscal year system if the required measures are implemented within the stipulated timeframe.
The directive has been sent to Rajuk, the Department of Urban Development, the National Housing Authority, the Public Works Department, the Department of Architecture, the Directorate of Government Accommodation and the Housing and Building Research Institute.
Development authorities in Chittagong, Rajshahi, Khulna, Sylhet, Barisal, Mymensingh, Gazipur, Narayanganj, Comilla, Rangpur and Cox's Bazar, along with other relevant offices and agencies, have also been brought under the directive.
Various branches of the ministry, including administration, law, planning and development, audit, land management, abandoned property management and ICT, have also been involved in the process.
The letter stated that all concerned offices and agencies must review matters under their respective jurisdictions and take necessary steps to implement the decision to change the fiscal year.
