2024-05-11 15:36:11
Prime Minister Sheikh Hasina has directed to take effective steps to list potential state-owned enterprises (SOEs) or government agencies and government companies in the capital market. At the same time, he directed the Finance Department of the Ministry of Finance to strengthen the country’s stock market by increasing the supply of basic shares.
The Prime Minister gave this order while presiding over the ninth meeting of the Executive Committee of the National Economic Council (ECNEC) held at the NEC conference room in the Sherbangla Nagar area of the capital on Thursday.
Briefing reporters after the meeting, Senior Secretary Planning Department Satyajit Karmakar said that the Prime Minister has asked the Finance Department and the Finance Secretary to take effective steps to list SOEs and government companies in the stock market.
In the briefing, Minister of Planning Major General (retd.) Abdus Salam, Minister of State for Planning Md. Shahiduzzaman Government, Planning Commission members and concerned secretaries were present.
In response to a question, Satyajit said that the Prime Minister did not specify the names of the SOEs, but asked the Finance Department and the Finance Secretary to select the SOEs and related government agencies after due scrutiny before listing them in the capital market.
The Planning Minister termed the Prime Minister’s directive as an important decision and said that it will increase the ability of those government institutions to survive in competition. Because, they will eventually be able to reduce their expenses.
“It will also create a spirit of competition and they (SOEs) will be able to take up projects based on their own income,” he said, noting that government enterprises and organizations would be given time to compete in the capital market and thus compete with private companies so that they could be listed. .
The Planning Secretary said that a total of 10 projects with a total cost of Tk 5,563.68 crore have been approved in today’s meeting. Out of the total project cost, 5 thousand 203.21 crores will come from Bangladesh government share and 360.47 crores will come as project assistance.
Out of the 10 approved projects, 8 are now new and 2 are revised projects.
Highlighting some instructions received from the Prime Minister, Satyajit said that a record number of 334 projects out of 339 projects will be completed within this financial year (Fiscal year 24) in accordance with the previous instructions of the Prime Minister to implement almost all the projects with necessary funds. The remaining five projects are unlikely to be completed within the current financial year due to logistical reasons.
He said that the Prime Minister has asked the concerned authorities to be careful about constructing bridges at the right height on rivers and canals – so that the normal flow of water is not disturbed along with smooth movement of boats in the rivers.
Referring to the Tk 1,874.54 crore project for land acquisition, land development and construction of basic infrastructure required for the Sheikh Hasina Medical University in Khulna, the Prime Minister mentioned two things in his observations. These are, firstly, to change the name of the project from its title and to spend the cost of building a mural elsewhere.
Expressing displeasure over this, Sheikh Hasina warned that if her name is included in any future project, she will not approve it.
Regarding approval of Tk 284.76 crore for China aid project for burn unit of Chittagong Medical College Hospital, Bangladesh, the Prime Minister advised the authorities concerned to discuss with development partners to select a new name for the project.
When asked if the Planning Commission is relaxing its conditions for extending project deadlines, Satyajit said despite repeated requests from implementing agencies, the Planning Commission has not extended the deadlines – resulting in a record number of 334 projects being completed in the current fiscal year.
Commenting on this, the Planning Minister said, ‘The longer the projects are delayed, the more time will pass. That’s why we vet every project before taking it on. But, in spite of that many times project deadlines are exceeded due to unavoidable circumstances.
Delays in land acquisition often lead to delays in project implementation, Salam said, noting that the government has decided to start the process of land acquisition as soon as possible when taking up a project.
The existing problems around the project managers will be solved very soon, the Planning Minister said, if the relevant ministries and departments conduct a feasibility study quickly, the potential problems and possibilities will be identified correctly, which will help in the smooth implementation of the development projects.
Salam also expressed hope that under the dynamic and courageous leadership of Prime Minister Sheikh Hasina, the activities of the Planning Commission will be smoother and the country will move forward on the path of prosperity.
Asked whether the recent devaluation of the rupee against the US dollar would affect foreign-aided projects, the planning secretary said it was difficult to determine the immediate impact.
Other projects approved in the meeting are: Platform-based capacity building of statistical services at a cost of Tk 144.07 crore, Development of critical rural infrastructure in Pirojpur and Jhalkati districts at a cost of Tk 1,100 crore, Development of critical rural infrastructure in Barisal district at a cost of Tk 1,000 crore, 81.44 Sustainability in textile and leather sector (style) at a cost of Rs.2 crores, second revision at an additional cost of Rs.527.77 crores, conversion of production method of Chatak Cement Company Limited from wet to dry process, replacement of existing Dhaka District Circuit House building at a cost of Rs.334.46 crores in new state-of-the-art construction Circuit House Building, construction of various infrastructures and Urban Resilience Project (BGB) for the newly formed (63 BGB) Battalion of Border Guard Bangladesh (BGB) at a cost of Tk 223.02 crore and Third Revised Urban Resilience Project (URP) at a cost of Tk 6.40 crore: DDM the part
Ministers and Ministers of State and members of Planning Commission and concerned secretaries were present in the meeting.