• Tuesday, Jun 22, 2021
  • Last Update : 12:57 am

All ADP fund must be released by May 30

  • Published at 08:09 am May 14th, 2013
All ADP fund must be released by May 30

The government has fixed May 30 as deadline for release of all development and non-development funds to maintain discipline in spending public money.

There have been several dates fixed every year at the end of the fiscal year to release the funds, which resulted in misuse of public money.

Usually, the government releases the major part of ADP funds in May-June period, the last two months of a fiscal year.

This May-June syndrome along with frequent shutdowns has almost stopped the implementation of development projects.

A finance division circular issued on Sunday fixed nine dates by which the works like release of funds, submitting cheques and import of goods for implementation must be completed.

According to circular, the cheques for development and non-development projects will expire on July 18 this year while the last date for payment of letter of credit to import of goods for development projects is June 30.

New bills need to be submitted by June 12 this year, according to the circular.

During first eight months of the current fiscal, the ADP implementation rate was only 44% with a slight improvement from previous year’s 38% in the same period.

Sources in the planning ministry said almost no development project was implemented in last one and half months due to political instability.

“The progress of all construction works in ADP was hampered because of hartals as contractors could not get supply of materials,” said a project director in the communication ministry.

He said it would significantly increase the cost of implementation works.

As political unrest hit the country, 98% of revised allocation would also remain unimplemented during the current fiscal, the project director added.

Besides, allocation for the much-talked-about Padma Bridge project dropped by 32%, though the finance minister told parliament last month that the outlay for the project would be presented in the revised budget.

The Padma Bridge allocation was cut to Tk5.5bn in the revised budget of the current fiscal with the government arguing that the total allocation of Tk8.04bn could not be spent in only remaining three months of the fiscal. 

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