Government considers third-party evaluation for project cost verification

The press secretary highlights an estimated waste of $14 to $24 billion due to political influence and irrational projects

The interim government is contemplating third-party evaluations for project costs to prevent financial waste.

The issue was discussed at Monday’s meeting of the Executive Committee of the National Economic Council, or ECNEC, said Chief Advisor’s Press Secretary Shafiqul Alam at a press conference at the Foreign Service Academy in Dhaka later that evening.

The meeting was attended by Chief Advisor Muhammad Yunus, several advisors, and officials from different sectors.

Shafiqul said, "The discussion centred on engaging a third party to evaluate large-scale projects.

“Between 2009 and 2023, the cost of development projects increased by an average of 70 percent.

Political influence and irrational projects have led to wastage of nearly 14 to 24 billion dollars."

He cited a metro rail project with an initial cost of $5.2 billion, where an evaluation by the Asian Development Bank, or ADB, revealed potential savings of $500 million.

The press secretary said a decision was made to implement e-filing in all government offices.

“The chief advisor has directed that this system be implemented swiftly, ensuring no files are moved manually.”

He added that the move aims to improve coordination among government institutions and enhance the efficiency of the administration.