Is this the start24 Mar 2019 19:09
https://www.coursehero.com/file/39306539/Briefing-note-Parliament-in-LS-projects-reviseddoc/
Briefing Note (Revised)Parliamentary oversight in large scale projectsParliament oversight of the national budget is an integral part of the process of ensuringaccountability of the executive to the people. In this respect, involving parliamentarians in acomprehensive way in budget implementation process is a step in that direction. Anunderstanding of the rationale of project selection as well as oversight of projects—whichaccount for a large chunk of Annual Development Programme (ADP) funds—is part of thisprocess. Since one of the objectives of parliamentary oversight is to look into public sectoractivities which are susceptible to corruption, such oversight assumes particular significance inthe case of large scale projects, which are an integral part of ADP of budgets, because of theirlikelihood of turning into bed sites of corruption due to the nature and characteristics of suchprojects.The nature of large scale projectsCapital intensive. Large scale projects (LSPs) are capital intensive, as differentiated fromlabour intensive projects, since the composition of capital is much higher than that oflabour and are mostly infrastructure projects ( investments in transport, power, Biman,Chittagong port, etc.) or in the social sectors (e.g. health, education sectors). Investmentdecisions on capital intensive projects needs to be made carefully. For instance, costbenefit analysis of the Phulbari coal project, showed that it will generate more than US$21 billion in economic benefits to Bangladesh over its 30 years life and add one percent ayear to Gross Domestic Product (GDP). However, this does not reflect the costs incurredincluding displacement of persons and environmental impact that could occur once theproject it is implemented.Large source of FDI. Before mid-80s, LSPs in most developing countries across theworld were the domain of public sector (SOEs). Subsequently, factors like the need forintensive capital (which put a strain on government’s domestic resources) and poorservice delivery by SOEs encouraged private participation, particularly foreignparticipation in such projects. Eventually this paved the way for FDI participation inLSPs. Many developing countries now encourage FDI in their LSPs given that thecapacity of the domestic private sector to raise required finance for large scaleinfrastructure projects is limited. In fact the public-private partnership (PPP) ideaencouraged in the present budget is an example of this.”
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