Dhaka: The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved the 'Development of infrastructures of countrywide rural bazaars' involving an estimated cost of Tk 1,730 crore to set up 520 rural bazaars across Bangladesh to facilitate marketing of farm and non-farm products.

The approval came from the weekly meeting of ECNEC held at the NEC conference room with its Chairperson and Prime Minister Sheikh Hasina in the chair.

Briefing reporters after the meeting, Planning Minister AHM Mustafa Kamal said a total of eight projects involving an overall estimated cost of Tk 15,221.75 crore were approved at the meeting.

Of the total project cost, Tk 3,767.84 crore will come from the national exchequer, Tk 10,924.62 crore from the organisations' own funds while the rest of Tk 529.29 crore as project assistance, he said.

Six of the eight approved projects are new while two are revised ones.

The Planning Minister said the Local Government Engineering Department (LGED) will implement the Rural Bazaars Infrastructures Development Project by June 2020 solely with the government fund.

The aim of the project is to ensure proper business environment at the rural level alongside creating short and long-term employment opportunities.

Under the project, at least one three-storey rural bazaar having 4,000-10,000 sqft will be built in each of the 491 upazilas.

The Planning Minister said the construction of rural bazaars is essential to bring dynamism into the rural economy through production of farm products and its marketing.

Once the project is implemented, the rural bazaars will help facilitate the marketing of products of the farmers, selling and buying of agriculture products at fair prices, expansion of trade and commerce, reduction of the transportation cost, creating employment opportunities and thus contributing to poverty alleviation.

Kamal said there will also be separate zones for the female buyers and sellers of agriculture produces at the bazaars.

The ECNEC meeting also approved the 'Construction of apartments for the low and mid-income people at Uttara Sector-18 (1st revised) with an increased cost of Tk 10,902.21 crore to be entirely borne from the fund of Rajuk.

In the revised Development Project Proposal, the executing agency had proposed building some 15,036 flats -- 11,004 each measuring 1250 square feet and 4,032 others of 1,050 square feet each, the Planning Minister said.

But, he said, Prime Minister Sheikh Hasina directed the authorities concerned to build another 1000 flats for the low and mid-income group each measuring 850 square feet, increasing the total number of flats.

Kamal also informed that per square feet area of each flat will cost around Tk 4,800.

The ECNEC meeting also approved the 'Bangladesh Regional Communication Project-1: National Single Window Implementation and Customs Modernization Strengthening' project with Tk 585.39 crore. Of the total project cost, the World Bank will provide Tk 529.29 crore as project assistance while the rest of Tk 56.10 crore will come from the state coffer. The National Board of Revenue (NBR) will implement the project by June 2020.

The project aims to make the international trade process faster and more transparent through introduction of electronic and online solution, increasing the volume of international goods unloading and reducing business operations cost and time.

Referring to the approval of the project of solid waste collection and disposal management at Narayanganj City Corporation (NCC) with Tk 191.18 crore, the Planning Minister said the Power Division has offered the NCC to give their solid waste for power generation.

The Prime Minister gave green signal to the proposal and directed the authorities concerned to bring a pilot project in this regard.

The other projects approved at the meeting are Jamalpur-Kalibari-Sarishabari Road Widening and Strengthening project with Tk 219.67 crore, Infrastructure Development of different areas under Chittagong City Corporation with Tk 120 crore, Secondary Education Stipend (2nd phase, 1st revised) with Tk 1,330.15 crore, Construction of Bakerganj-Barguna 132 KV Transmission Line and Barguna 132/33 KV Power Substation with Tk 143.15 crore.

Ministers and state ministers attended the meeting while Planning Commission members and secretaries concerned were present.