Printed on Mon Sep 26 2022 10:42:41 AM

'Project implementation delay is increasing the cost'

Staff Correspondent
Foreign Minister AK Abdul Momen has said that no project in Bangladesh is usually completed on time. He said delays and cost overruns in the project cost the government extra money.

He was speaking at a joint seminar organized by the Ministry of Foreign Affairs, the South Korean Embassy in Dhaka, and the East Asia Study Center of Dhaka University in the capital on Thursday.

The seminar was organized to mark the 50th anniversary of diplomatic relations between Bangladesh and South Korea.

Speaking as the chief guest at the seminar, AK Abdul Momen requested South Korea to exchange procedures in this regard to avoid delays and additional costs in the Bangladesh project.

Abdul Momen said, ‘When we start a project in Bangladesh, it usually does not end on time.

I have many examples.

Although the project was supposed to be completed in three years, it took 10 years. And because of delays and cost overruns, the government is spending more."

Noting that this was the situation in South Korea before former President General Park Chung-hee came to power, the foreign minister said Park was the country's president from 1961 to 1979. Then they introduced some rules. This includes that the project director will not change before the project is completed.

Second, if the project is completed on time or ahead of time, he will be appointed to the strategic position of the officer and he will get incentives.

After all, if a project is delayed if it is not completed on time, the officer involved in the project will be punished. He will be demoted. He even has to go to jail."

Noting that South Korea is currently number one in the world in terms of project implementation, the minister said, "We urge our South Korean friends to share with us the approaches and procedures so that the projects and contracting work can be completed on time."

At the time, Abdul Momen also sought South Korea's help in simplifying business practices.

"Although not rich in mineral resources, they (South Korea) have outperformed many other countries in terms of overall management and commitment," he said.

"We seek the help of our friends in South Korea to make it easier for them to do business."

At the seminar, South Korean Ambassador Lee Jang-keun said, "Global political instability has exposed us to various regional and bilateral challenges. But we can take these challenges seriously and turn them into new opportunities."
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