The eighth five-year plan has been approved aiming at creating 11.33 million new jobs in the next five years to ensure sustainable economic growth and recovery of losses caused by the Covid-19 pandemic.
The Eighth Five-Year Plan has been finalised focusing on increased GDP growth, investment, savings and revenue collection to ensure sustainable growth.
The approval came from the NEC meeting held virtually with Prime Minister Sheikh Hasina in the chair on Tuesday.
The Premier chaired the meeting from her official Ganobhaban residence while ministers, state minister, secretaries and other officials concerned joined the meeting at the NEC Conference Room in Sher-e-Bangla Nagar area and Cabinet conference room in the city.
According to the plan, for creating jobs, the government wants to attract foreign investments especially in the special economic zones through a business-friendly environment and a win-win situation for all.
Besides, the government will train up workers into skilled hands and diversify labour markets to ensure massive employment opportunity, it added.
Of the total employments, 7.81 million jobs have been created in the country and 3.25 million abroad, it mentioned.
Briefing reporters after the meeting, Planning Minister MA Mannan said in the light of the government's development vision and election manifesto, the continuity of planning policy has been given importance in the Eighth Five-Year Plan.
“It also includes the Sustainable Development Goals (SDGs). Besides, the need to continue efforts to achieve these goals has been seriously considered. The government will implement the plan from July, 2020 to June, 2025,” he added.
“It will cost 64,959.8 billion to implement. Of this, the target from internal (domestic) sources has been set at Tk 57,483.9 billion and 7,475.9 billion will come from foreign sources.
Besides, among the total expenditure, the government has spent only Tk 12,301.2 billion from its own funds and Tk 52,658.6 billion from the private sector, he added.
However, as the situation is likely to improve in the coming days, the growth target for FY 2021-22 has been set at 8.29 percent.
The target for the fiscal year 2022-23 is 8.32 percent. GDP growth is expected to be 8.37 percent in FY 2023-24 and 8.51 percent in FY 2024-25.
According to the plan, Corona has had an enormous negative impact on the lives and resources of the people of the country.
In the circumstances, a plan has been made to restore the confidence of the people by giving the utmost importance to the protection of human health.
The Eighth Five-Year Plan, therefore calls for increasing allocations to the healthcare sector, strengthening public-private partnership, ensuring quality and necessary healthcare at the district level, and launching universal health care services.
Moreover, with the help of the World Health Organization, vaccines should be collected and made accessible to all.
At the same time, financial incentives need to be given to domestic organizations that are doing research on vaccines.
Emphasis has been given to expedite the implementation of incentive and assistance packages announced by the government.
Strict implementation of social security programmes and poverty reduction programmes will also be expedited.
