Dhaka,(Barta24.com): In the latest revised budget document it has been mentioned that henceforth no permission will be required from Finance division and Administrative ministry to get release of fund of various projects in the country.
The officials of the Finance ministry said that after this instruction there will be no check and balance. Earlier it was a system that the ministry and the divisions used to want to know that how the fund of the last three installments were spent. But now that system will be no more.
However, though the ministries and departments will not be required to come to the Finance ministry but the autonomous bodies will be required to come to the Finance division for releasing the fourth installment fund.
It is learnt that project fund usually get released in four installments. It was mandatory for taking permission of finance division and the project related ministry. The system was practiced for ensuring transparency and accountability.
But to bring speed of the implementation of the project, the power of releasing fund of first & second installments was with project director (PD). After getting permission of the project concerned administrative ministry the third installment has to be released.
Still the projects got slowed down due to the hassle of the different authorities as alleged by PDs. Depending on that arguments the PDs have been given the all powers of spending money without any prior permission of any authority.
After this order, the PDs got the all power to draw the total money from the treasury. This will not require any body’s permission.
But the PDs will not be allowed to draw the customs duty, VAT and the cost of land acquisition. Again, the loan and foreign donations in the project will follow the old practice of government policy.
The new order was issued in a circular of March 31 of Finance ministry that in 2018-19 according to revised policy the authority of releasing fund by any ministry/division/directorate or any other organization will not be required to take the permission of finance division or of any administrative ministry July 1. It will be deemed as the fund got automatically released.
It is learnt that the government draws planning to development expenditure in the budget on the basis of projects. There is one PD for each project. Though in many cases one man remain in charge of more than one project. The project cost is determined sector wise of the project.
Through calling tenders the project work is done through private sectors. So the concerned ministry allotted the fund in four installments.
So long there was a system of producing the vouchers of various purchases and expenditure to get verified to ensure transparency and accountability. But from now on no permission will be required in getting the fund released.