We should not look at this completely negatively.
Firstly, after taking up a project, when it appears that a component needs to be increased, only then do the costs increase.
For example, there is a plan to make a 10-kilometre road, and later it is decided that five more kilometers need to be constructed. Then the cost will surely grow.
Secondly, if the time period is extended to complete the project, naturally, with time, the price of things will increase. So the implementation cost will also increase.
Normally, when a project implementation is delayed and the cost increases, it has a negative impact on the whole economy.
But this will not be the case if the project implementation expense increases due to more work.
However, if the project implementation is delayed purposefully and due to inefficiency and negligence, then it will ultimately have a negative impact on the economy.
Ordinary people have to suffer because they are the taxpayers.
Another reason that hinders project implementation is bureaucratic complexities.
When a project proposal is presented and implemented, it has to go through many stages until it reaches the final implementation stage.
Corruption is also definitely pushing up the development projects' cost.
When the project proposal is drafted, the price of land is estimated to be a certain amount but when buying the land, the price turns out to be much higher. This happens because many landowners erect buildings to sell the lands at a higher price.
Some government officials and land owners involved in the land acquisition process ramp up the price for their own benefit.
Ali Imam Majumder is former cabinet secretary