Around 1,300 development projects undertaken by the previous government are being individually reviewed to assess their economic viability and identify possible irregularities, Finance Minister Amir Khosru Mahmud Chowdhury has said.
He said several cases and related matters involving the projects are currently going through legal and administrative processes.
The minister made the remarks in response to a supplementary question from ruling party MP Rehana Akter Ranu in Parliament on Sunday (September 6).
Amir Khosru said the previous government had undertaken a large number of projects by borrowing from domestic and foreign sources, creating significant financial liabilities for the current government.
“Many matters are under trial and many are in process. However, we are evaluating each project separately,” he said.
According to the minister, the current government inherited around 1,300 projects at different stages of implementation. Reviews of the projects have already begun, with evaluations of some nearing completion while others remain at an intermediate stage.
He said some projects have already been cancelled after their necessity and economic viability were assessed. However, some projects are at an advanced stage of implementation and cannot be abandoned.
“We are dropping many projects. At the same time, some projects have reached the final stage, leaving us with no alternative but to complete them,” he said.
The finance minister said the government is also bearing the financial liabilities created by the projects, including repayment of loans taken against them. He added that the large volume of borrowing in the previous period had put considerable pressure on the economy.
For public investment, the government has adopted four basic principles: value for money, expected return on investment, employment generation and consideration of environmental impacts.
Amir Khosru alleged that many projects undertaken by the previous government did not adequately consider these factors.
He said the government wants public funds to be invested in projects that generate measurable economic and social benefits for citizens and intends to move away from investments that create excessive financial liabilities without sufficient returns.
The minister also identified challenges inherited from the previous period, including alleged irregularities in the banking and stock market sectors and loan liabilities arising from development projects.
Referring to the ongoing conflict in the Middle East, he said the external crisis had added further pressure to the country’s already difficult economic situation.
Despite these challenges, Amir Khosru expressed optimism that the government would be able to strengthen the economy through long-term policies and ensure that public investments deliver benefits to the people.
