The project approval authority of the Planning Minister and State Minister for Planning has been enhanced.
From now on they can approve if the cost of the revised project is increased or decreased up to Tk 50 crore.
In case of a reduction or increase of 25 percent of the last approved cost or Tk 50 crore in the amendment proposal of a project, the Planning Minister or the State Minister for Planning has been given the authority to approve it.
The notification has been issued by the ministry of planning on Wednesday to increase the authority of the ministers and state ministers to approve projects.
For this, there is no need to go to the Executive Committee of the National Economic Council (ECNEC) meeting for approval, which is chaired by the Prime Minister.
The notification also states that even if the cost of a project has increased by more than 25 percent, if the total estimated cost of the proposed revised project is less than Tk 75 crore, then the planning minister and the state minister can approve it.
According to the notification, if the cost is reduced during the first or second amendment of a project, the planning minister and the state minister can approve the cost reduction, regardless of the amount.
The authority of the planning minister has been enhanced by amending the guidelines for formulation, processing, approval, and amendment of public sector development projects published in June 2022.