Government agencies marked 172 unfinished projects as ‘completed’ in the last fiscal year, leading to significant public fund wastage, according to an official report.

The Implementation Monitoring and Evaluation Division (IMED) report, now under review by the National Economic Council (NEC), reveals irregularities in the Annual Development Programme (ADP) 2023-24.

Among the findings, the Roads and Highways Department failed to spend Tk 5.86 billion allocated for the Improvement of Matarbari Port Road Project, resulting in no progress. Similarly, despite spending Tk 13.35 million, the Narayanganj City Corporation undertook no physical work on its Solid Waste Collection and Disposal Management Project.

The report notes that 89 projects received Tk 26.231 billion but saw no expenditures, while 121 projects failed to achieve any physical progress. Overall, 301 projects were completed against a target of 325, but 129 were only partially finished.

Economists warn that this practice distorts financial management. Prof Mustafizur Rahman of the Centre for Policy Dialogue argues that many projects are politically driven and lack long-term commitment. In some cases, projects are abandoned midway, only to be restarted later, escalating costs.

The NEC approved an ADP worth Tk 2.75 trillion, later revised to Tk 2.54 trillion. However, only 74.68% of the original allocation was utilized. The report highlights weaknesses in project planning and execution and calls for better oversight to curb financial mismanagement.