Government should take initiatives to re-evaluate projects and ensure good governance

Unfortunately, most of the mega projects in Bangladesh are currently considered a burden. Inefficient management and corruption are largely responsible for this.

Due to this, about 35 percent of the total cost of mega projects implemented in the country is being wasted.

According to a recent study by the Change Initiative, the lion’s share of mega projects that have been implemented or are in progress in the country were undertaken during the decade and a half rule of the ousted Awami League government in the July mass uprising.

The study says that most of the projects have only developed infrastructure. They rarely reflect public interest.

They are not economically profitable either. Rather, during the fallen government’s tenure, about 3.5 lakh crore taka has been wasted in the name of development projects.

During the time, about 7 lakh 20 thousand crore taka has been spent through the ADP, the economic white paper prepared by the interim government states that up to 40 percent of this has been embezzled.

Although these projects were undertaken in the name of national development, they became a means of corruption and looting.

There are also allegations that corruption was systematically committed by spending more than the estimated budget and extending the deadline.

Experts say in addition to corruption, there are also errors in project planning and feasibility studies, delays in land acquisition, lack of competition in the tender process, institutional weaknesses, delay in implementation have also led to additional costs in project implementation.

In such a situation, the new government should re-evaluate all the approved projects.

It is necessary to verify the entire implementation process, including the cost of the projects. This will allow them to make the projects cost-effective.

Waste of money and corruption in the name of development cannot be accepted in any way.

The spread of corruption could not be stopped due to the lack of accountability in the administration, including the failure to bring criminals to justice.

Within a year of taking office, the interim government took the initiative to investigate and audit various irregularities and corruption in the private sector, including private banks and financial sector oligarchs.

It would be appropriate for the newly elected government to re-evaluate all existing projects.

And before approving any future project, it must verify the real needs and feasibility.