First meeting of Delta Governance Council postponed

The newly-formed Delta Governance Council, headed by Prime Minister Sheikh Hasina, postponed its first meeting that was supposed to be on Monday.

The meeting was cancelled upon request of the Prime Minister's Office and will be rescheduled for later, depending on the premier's schedule, officials at the General Economics Division (GED) of the planning ministry told The Business Standard.

They hoped the crucial meeting will be held within this month.

The meeting is believed to be important in finalising the means of forming a fund for the smooth implementation of the 100-year Bangladesh Delta Plan, and a two-day international conference to promote investment in it.

The government approved the Delta Plan in 2018 with a view to achieving sustainable economic growth and a sustainable environment through long-term food security and sound water resource management.

It has a goal to tackle the effects of climate change by implementing the plan.

In the first phase of the Delta Plan, 80 projects were included for implementation till 2031, which involved an estimated cost of around Tk2,97,800 crore. These projects are linked with other projects.

In fiscal 2018-19, when the master plan was initiated, public investment in those projects was just 0.66% of GDP.

In FY20 and FY21, the government's investment for this purpose was 0.90% and 0.89% of national output.

According to the GED, the government has set aside 1.13% of GDP, or Tk34,821 crore, in its FY22 annual development programme for the Delta Plan projects.

The department suggests that annual investment for the Delta Plan needs to be increased in phases to 2.5% of GDP by 2025.