Diligent management of public funds a must to achieve sustainable development

The recent report from the Implementation Monitoring and Evaluation Division (IMED) paints a troubling picture of the Annual Development Programme (ADP) for the fiscal year 2024-25.

With only 41.31 per cent of the revised allocation utilised in the first ten months, we are witnessing the lowest implementation rate on record.

Our newspaper reported on Tuesday that this alarming trend not only undermines the government’s development agenda but also raises serious concerns about fiscal responsibility and governance.

The figures speak for themselves: Tk 93,424.83 crore has been spent, a stark contrast to the Tk 1,07,612.45 crore expended during the same period last fiscal year.

The decline of Tk 31,890.85 crore in government development spending is a clear indication that something is amiss.

The government had allocated Tk 2,26,164.95 crore in the revised ADP, yet only 38 per cent of this has been spent from government funds.

This is a significant drop from the previous year’s 44 per cent utilisation rate.

The trend of hurried spending towards the end of the fiscal year is particularly concerning.

This rush often leads to waste and corruption, undermining the very purpose of the ADP.

It is imperative that ministries and divisions, particularly those with the highest allocations, improve their implementation rates.

The Health Services Division, for instance, has only managed to utilise 14.90 per cent of its allocation, hampered by limited capacity and delays in approving critical programmes.

Moreover, the recent approval of a Tk 2.3 lakh crore ADP for FY26, which reflects a significant reduction from the original allocation of the current fiscal year, signals a shift towards austerity.

While it is essential to cut low-priority projects, this should not come at the expense of vital development initiatives.

The government must ensure that funds are allocated efficiently and transparently, with a focus on enhancing capacity and accountability within ministries.

As we move forward, the government must adopt a proactive approach to ADP implementation.

This includes regular monitoring, timely approvals, and a commitment to transparency.

Only through diligent management of public funds can we hope to achieve sustainable development and improve the lives of our citizens. Indeed, we cannot afford to let this opportunity slip away.