The Annual Development Programme (ADP) for the current fiscal has been reduced by seven per cent, the Financial Express Reports.
The cut which was announced on Tuesday by Planning Minister AHM Mustafa Kamal after a meeting of the National Economic Council chaired by Prime Minister Sheikh Hasina stated that the ADP for 2015-16 fiscal has been reduced to BDT 983.94 billion from BDT 1.1 trillion.
The cut in ADP, which is done in every fiscal, was due to slow implementation of development projects. The ADP for the last 2014-15 fiscal was curtailed by 6.61 percent.
According to bdnews24.com, in the eight months of the current fiscal (July 2015 to February 2016), the ADP implementation is only 34 percent, which means only BDT 346.74 billion has been spent.
h/t: The Financial Express, bdnews24.com