The New Nation - Internet Edition

IT is reported in a section of the press that implementation of development projects in the current fiscal year remains quite slow. Executives in different sectors of the economy opted for dilatory practices. They have done this despite the availability of revenue resources and the inflow of external aid and grants. The collection of revenue has showed an uptrend and the bulk of such revenue resources remains in the treasury. Even the use of aid and grants from development partners remains uncertain. That being so, the rate of growth of the economy may be lower than the target set for the years.

The overall growth of the economy depends on proper use of internal revenue resources and external aid and grants. The responsibility for optimising the use of internal and external resources falls upon the shoulders of policy makers in the government and executives in charge of the implementaton of development projects. They should work in a collaborative manner for implementing projects in different sectors of the economy.

The use of the revenue resources as well as the aid and grants from development partners, including international agencies like the UNDP, the World Bank, the Asian Development Bank, may remain uncertain because of slow implementation of projects. The policy makers in the caretaker government, the official agencies like the Planning Commission, the Economic Relations Division and relevant official agencies seem to have not worked efficiently during the past six months of the current fiscal year.

Moves for optimisation of the collection and the use of public resources should be taken without any further loss of time. The uptrend in the collection of revenue under different heads including income tax, VAT and import and export duties is to be noted by all quarters. If the uptrend in revenue collection is retained in coming years then the dependence on aid and grants would go gradually.

The inadequacies of infrastructure facilities and in services like the healthcare system and even in production units in the primary and secondary sectors of the economy remain quite pronounced. If the process of planning and implementation of development projects in different sectors of the economy are updated such inadequacies would no longer be there.