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Tk 5 lakh crore for 10 mega projects

Published : 22 Sep 2019 08:34 PM | Updated : 07 Sep 2020 02:48 PM

The work of Mega Projects worth about Tk. 500,000 crore is going on in full swing. The projects are: Padma Bridge, Rooppur Nuclear Power Plant, Rampal coal-fired Power Plant, Deep Sea Port, Dhaka Mass Rapid Development Transit Project, LNG Terminal, Moheshkhali-Matarbari Intregrated Infrastructure Development Project, Payra Sea Port, Padma Bridge rail link and construction of Rail track between Chattogram and Cox’s Bazar.

According to the finance ministry sources, the initial estimated cost is Tk. 4,75,607 crore. This may be mentioned that the government has allocated Taka 2,11,683 crore for fiscal 2019-20 to finance 10 mega projects with a view to accelerating their construction. Earlier the cabinet approved the draft of a law that would pave the way for depositing the money lying idle in various banks as FDR to the public exchequer. In total Tk 2,12,100 crore remain idle/unused till May this year. The amount will be collected from 68 autonomous, semi-autonomous, government statuary authorities, public non-financial corporations and self-governed organizations.

According to the sources, Bangladesh Petroleum Corporation has Tk 21,580 crore idle money, while Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) Tk 18,204 crore, Power Development Board Tk 13,454 crore, Chattogram Seaport Tk 9,913 crore and Rajuk (Rajdhani Unnayan Kartripakkha) Tk 4030 crore.

As per plan, the government will take 75 percent of the idle money from the banks and the rest 25 percent money will remain in the FDR. The amount of the 75 percent idle money is estimated at over Tk. 1, 50,000 crore. “The policy of the government is to bring the idle money to the national exchequer with the proposed law for financing different development projects and supporting public welfare,” a highly placed sources in the cabinet division said.

The 75 percent idle money thus collected will be deposited to the state exchequer for implementing the mega projects. Earlier, on September 3, Prime Minister Sheikh Hasina at the Executive Committee of the National Economic Council meeting directed the authorities concerned to collect tolls from vehicles using the national highways and bridges. The money thus collected will also be spent for the mega projects.

As per the electoral pledges, work of the construction of Nuclear power plant is progressing fast while development work of Payra port is going on. Besides, Sonadia deep sea port, Rampal power plant and Matarbari power plant projects are under implementation. The construction of LNG terminal has been completed and supply of LNG to national grid started as these identified as ‘Mega Projects’, have been brought under special supervision of the Prime Minister for rapid implementation.

On the other hand, ‘Fast Track Taskforce’ has been formed headed by the Principal Secretary ofthe Prime Minister Office for monitoring implementation of the decisions of this Committee. The government began works to formulate plans and action programmes to transform Bangladesh into a developed country during a set time frame from 2021 to 2041.