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Ecnec okays 8 projects worth Tk 4,826cr

Planning minister expects inflation to fall in Nov

Published : 22 Nov 2022 10:57 PM | Updated : 23 Nov 2022 11:32 AM

The Executive Committee of the National Economic Council (ECNEC) has approved 8 projects worth Tk 4,826.21 crore including the Transport Master Plan. 

The approval came from a meeting of the ECNEC with its chairperson and Prime Minister Sheikh Hasina in the chair. 

Ministers, state ministers, planning commission members and secretaries concerned also attended the meeting from the NEC conference room in the city's Sher-e-Bangla Nagar area on Tuesday.

Briefing reporters after the meeting, the Planning Minister MA Mannan said, “Today a total of Eight projects has been approved at an estimated cost of Taka 4,826.21 crore. Out of this, Tk 2,341.02 crore will be spent from state’s exchequer, Tk 278.19 crore from foreign loan assistance and Tk 2,207 crore from implementing agencies.”

The approved projects are: Upgradation project of 4 district highways under Comilla road division to proper standard and width, Construction project of Galachipa bridge over Ravnabad river at 70th km of Lebukhali-Baufal-Galachipa-Amragachia district highway. Transport Masterplan and Preliminary Feasibility Study for Urban Metrorail Transit Construction of Chittagong Metropolitan Area Project, Coastal Towns Climate Resilience Project.

In addition, the third submarine cable installation project aimed at expanding Bangladesh's international telecommunication system, Jail Security Modernization, Dhaka, Mymensingh and Chittagong Division Project, National Information and Communication Technology Infrastructure Development (Info-Government III Phase) Project and to strengthen nutrition and food security through agricultural development.

Updating upon the inflation situation, the Planning Minister said “The inflation trend is now downward and it will continue for next 3-4 months while the wage index is also on the uptrend. It’s a good sign.”

He expects that the overall inflation will be reduced in November this year.  

He said that the country is likely to witness a good Harvest of Aman crops this time which is definitely good news for all side by side it would also be helpful to boost the supply side to rein in inflation further.

Mannan said that million tons of food grains are in the field much to the delight of the farmers.

Quoting data from the Ministry of Agriculture, he informed that the vegetables production has increased by six times over the years having a wide range of varieties while the production of nutrition enriched various food grains and fruits have started to impact the inflation trend.

Riding on the good supply side, he noted that the general point to point inflation would come down further in November and thus continue to fall in December, in next January and February also before the declining trend might get slow-down in next March.

He also informed that the Prime Minister has expressed her satisfaction over the current inflationary situation.

The planning minister said due to various steps taken by the government and also from the central bank, the gap in the current account balance is gradually narrowing down while the overall inward remittance and exports earnings are still in the positive trend.

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