"It takes a long process to release money against any project. How does the money, allocated from block allocation could be spent during the present regime as there are a lot of processes that still remain incomplete?" Saifur said.

He refuted some recent media reports about government's ill motives to plunder public money in the name of block allocation, saying that the four-party alliance government would not remain in power when the projects start.

The finance minister was briefing newsmen after an Ecnec meeting in the city yesterday that approved eight projects of Tk 1,589 crore. The minister is not optimistic of beginning the implementation of the projects during the caretaker government's tenure that would take office in late October.

On July 12, the first Ecnec meeting of the current fiscal approved the Second Rural Infrastructures Development Project of Tk 1,737.75 crore.

"This was not to loot public money, but a continuous effort of the government for development," he said adding that the process began in September 2004.

The project is funded by donors whose representatives conducted feasibility studies over the whole year of 2005 before approving it this March, he added.

'The ministry concerned sent the project to the Planning Commission in April and Ecnec approved it after scrutiny,' said the finance minister.

"We have yet to sign any agreement with the donors," he said adding that the agreement might be done next year.

The finance minister said development is a continuous process. "We cannot keep on suspending all development activities and programmes due to elections. Even, when the electioneering will reach its peak, the then government will also continue implementation of development projects, conducting the polls side by side," he said.