Dhaka, March 10 (IANS): The highest economic policy-making body of the Bangladesh government has slashed the allocation for its Annual Development Programme (ADP) by 6.61 percent in the current fiscal (July 2014-June 2015).
The ADP allocation was slashed at a meeting of the National Economic Council (NEC), chaired by Prime Minister Sheikh Hasina here on Tuesday, Xinhua news agency reported.
The NEC meeting approved the revised ADP fund to 750 billion taka (over $9.6 billion).
In the budget in June last year, the size of the ADP for 2014-15 fiscal was set at 803.15 billion taka with power and communications sectors getting the biggest allocation.
Sources said the ADP allocations were downsized after taking into consideration the latest accumulated spending and purchase plan till June this year.