Alternative funding not required | The Daily Star
12:00 AM, October 27, 2011 / LAST MODIFIED: 12:00 AM, October 27, 2011

Alternative funding not required

PM tells JS Padma project complications to go soon

Prime Minister Sheikh Hasina told parliament yesterday that no alternative funding would be needed for the Padma bridge project, and hoped that the project would start soon through a settlement of “temporary complications”.
The World Bank recently suspended funding for the project on grounds of allegations of irregularities against the communications minister.
Terming the complications over the project temporary, the prime minister said her government had taken measures to resolve the problem.
“The finance minister has sent a letter to the World Bank president clarifying the government's position. Copies of the letter were sent to other development partners,” she said in a scripted answer to a query of ruling party lawmaker Abu Baker.
Hasina said the WB would give $1.2 billion for the Padma bridge project, and if necessary, it would provide an additional $300 million.
“All matters, including floating of tender, pre-qualification and selection of contractors, have to be sent to the World Bank for its approval. The World Bank has its own official procedure to take decisions.”
The WB, the chief coordinator of the project's other financiers, has rules for probing allegations of irregularities, even if they are false or come from anonymous sources, she said.
On October 23, Finance Minister AMA Muhith told reporters that the snags in the Padma bridge project would be removed soon. “We have given a proposal to the Bank, and are waiting for their response.”
Asked what the government would do if the WB turned down the proposal, the minister said, “We have other ways. We won't tell you everything.”
On October 20, the Malaysian government proposed financing the Padma bridge project.
Dato Seri S Samy Vellu, special envoy of the Malaysian government, made the proposal at a meeting with the prime minister at her official residence Gono Bhaban.
In response to a query from Jatiya Party lawmaker Mujib-ul Haque, the prime minister said the core committee formed under the Tariff Commission had submitted its report on transit fees and routes for transit.
The report is now going through a final review, she added.

Stay updated on the go with The Daily Star Android & iOS News App. Click here to download it for your device.

Type START <space> BR and send SMS it to 22222

Type START <space> BR and send SMS it to 2222

Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News