Monday, July 15, 2024

23yrs more needed to clear Bangabandhu Bridge debts

Tk 1.5bn is paid in principal, interest annually to ADB, WB
It will take at least 23 years more to clear the liabilities the country owes to multilateral lenders who gave loans for constructing the Bangabandhu Multipurpose Bridge across the Jamuna River.
An annual payment of Tk 1.50 billion in principal and interest to the Asian Development Bank and the World Bank will have to continue up to 2034 to pay off the debts, reveals an internal audit report of Bangladesh Bridge Authority.
The BBA, which was established a couple of years back to look after the Bangabandhu Bridge and the proposed Padma Multipurpose Bridge, makes the payment to the ADB and the World Bank, the two major lenders of the multi-million dollar Bangabandhu Bridge.
Communications ministry officials fear that it might take even longer to repay the debts if the authority cannot increase income from bridge tolls and pay higher amount of instalments which, they said, the country will have to.
In a letter to Finance Minister AMA Muhith, Communications Minister Syed Abul Hossain said the existing rate of 2 percent tolls will be doubled from 2014-15.
Bangladesh Bridge Authority has already drawn plans to raise the income from the bridge by enhancing the toll rates by 40 percent this year, 80 percent in 2016 and 100 percent in 2021.
It said it will not face any problem maintaining the liabilities if the toll plan could be implemented.
Its officials said they are waiting for Prime Minister Sheikh Hasina to approve the new toll rates.
Commissioned in 1998, Bangabandhu Bridge still stands as the country’s largest infrastructure.
As per the deals struck with the lenders almost two decades ago, Bangladesh will need over Tk 3 billion to maintain the debt service liability to them.
The country spent $962 million (Tk 37.45 billion as per the dollar-taka exchange rate during the 1990s) to construct the rail-road bridge earlier known as Jamuna Multipurpose Bridge.
The ADB and the World Bank provided more than 45 percent of the construction cost. The remaining was funded by Bangladesh government and donors like Japan.
A substantial portion of the total government funding was collected from levies imposed on people.
The 4.8km bridge brought the less developed northern part into the country’s mainstream economy.
Bangabandhu Bridge tolls have remained unchanged for the last 13 years.

 

Courtesy of Daily Sun

Related News

Eid-ul-Azha on June 17

News Desk : dhakamirror.com The holy Eid-ul-Azha will be celebrated in Bangladesh on June 17 (Monday) as the crescent moon of the Zilhaj month was sighted in Bangladesh’s sky on Friday evening (7 June). The National Moon Sighting Committee came up with the decision after reviewing information about the sighting of the moon at a ... Read more

Cyclone Remal: 40 dead animals found, 17 rescued hurt in Sundarbans

News Desk : dhakamirror.com The forest department officials on Tuesday said that so far they found 39 dead deer and a pig in the Sundarbans after the severe cyclone Remal that hit the forest on Sunday. Primarily they have estimated infrastructural damage of Tk 6.27 crore in the forest while the total damage, including animals ... Read more

Cyclone Remal claims at least 14 lives, affects nearly 37.58 lakh people in 19 districts

News Desk : dhakamirror.com Following its devastating impact into Bangladesh on Sunday night, Cyclone Remal has affected over 37.58 lakh people in 19 districts and taken at least 14 lives. While the cyclone has weakened into a deep depression, hundreds of villages in the southern parts of the country remain submerged. The Bangladesh Meteorological Department ... Read more

Alert issued as Cyclone Remal develops

News Desk : dhakamirror.com A weather alert has been issued by the Bangladesh Meteorological Department (BMD) as a low-pressure system in the southwest and west central Bay of Bengal gains strength, potentially developing into Cyclone Remal by Saturday. The system, currently moving northeastward, is expected to transform into a depression by early Friday. By Saturday, ... Read more

Cyclone ‘Remal’ likely to hit Bangladesh coasts on 26 May: Meteorologist

News Desk : dhakamirror.com Cyclone Remal is likely to make landfall between 6:00am and 12:00pm on 26 May in Bangladesh, affecting coastal areas from the Barguna in Barishal Division to Cox’s Bazar in the Chattogram Division, a meteorologist said today (21 May). The front of the cyclone may begin to enter coastal areas after 6:00am, ... Read more

5 consecutive days holiday for Eid-ul-Adha

News Desk : dhakamirror.com Government employees are scheduled to get five consecutive days off on Eid-ul-Azha. This includes two days of weekly holidays (Friday and Saturday) followed by another three days for Eid, according to government holiday list. Eid-ul-Azha is likely to be celebrated on June 17 this year.

Heavy rains, storms forecast for entire week

Schools open today after heatwave closures News Desk : dhakamirror.com The Bangladesh Meteorological Department (BMD) forecasts heavy rainfall with thunderstorms across the country this week, starting on Tuesday and lasting through Saturday. As per the analysis of mathematical model of rainfall index, Bangladesh is likely to witness heavy to very heavy rainfall with thunderstorms starting ... Read more

Waiting for the rain

Tawsia Tajmim As the sun blazes relentlessly, desperate craving rises for rain, for nothing soothes Mother Nature quite like its cool embrace. After a brutal month-long heatwave, residents of Chattogram, Sylhet, and Dhaka finally caught a break with some rain on 2 May. However, the downpour was not strong enough to completely wash away the ... Read more

Hajj registration extended till Jan 18

News Desk : dhakamirror.com The government, in a notice issued yesterday, extended the Hajj registration deadline for 2024 until January 18. It said aspiring Hajis would have to primarily deposit Tk 2.05 lakh, while the rest should be paid by February 29 for final registration. One has to pay Tk 5,78,840 under the general package, ... Read more

Dense fog disrupts communications across Bangladesh

News Desk : dhakamirror.com Cold and dense fog continued to disrupt life with road, air and waterways communication remaining suspended in the early hours of Tuesday as Bangladesh braces for this winter’s first cold wave likely to set in today. Authorities also confirmed until Tuesday the death of 14 people in cold-related diseases and road ... Read more

27,000 GPA 5 achievers not to get seat in public universities

Shahin Akhter Over 27,000 GPA 5 achievers in this year’s HSC and equivalent examinations cannot be admitted to the public universities due to fewer seats. A total of 92,595 examinees secured GPA 5 out of total 10,67,852 passed in the Higher Secondary Certificate examinations this year. But there are around 65,400 seats at the public ... Read more

Magnitude 5.5 earthquake jolts Dhaka, other parts of Bangladesh

News Desk : dhakamirror.com A magnitude 5.5 earthquake struck Bangladesh this morning, the United States Geological Survey said, with no immediate reports of damage. The earthquake jolted different parts of the country including Dhaka around in Ramganj of Cumilla at 9:35am, reports The Daily Star quoting Meteorologist Rubayet Kabir of Bangladesh Meteorological Department. The quake ... Read more

250cc Bajaj Pulsar N250 launched in Bangladesh

News Desk : dhakamirror.com Uttara Motors, the manufacturer and distributor of Bajaj motorcycles in Bangladesh, has recently launched The Pulsar N250 motorcycle. Pulsar N250 comes with a price tag of Tk339,999 and is available in three different colours. The motorcycle with a 250 cc oil-cooled engine has got dual channel antilock braking system (ABS). Indian ... Read more

HSC, equivalent exam results tomorrow

News Desk : dhakamirror.com The results of this year’s Higher Secondary Certificate (HSC) and its equivalent examinations will be published tomorrow. The copy of the results will be handed over to Prime Minister Sheikh Hasina tomorrow morning. Later in the day, the results will be officially announced by Education Minister Dipu Moni at a press ... Read more

Gold hits record with a bhori of Tk 106,376

News Desk : dhakamirror.com The jewelry makers of the country has increased 22-carat gold price by Tk 1,750 today. Tomorrow, the price of 22-carat gold will reach a historic high of Tk 106,376 per bhori. The new price is 1.67 percent higher than the previous all-time high of Tk 104,626 per bhori (11.664 grammes) recorded ... Read more

Gold’s price reaches a new peak

News Desk : dhakamirror.com Gold price in the country has surged to a record Tk1.04 lakh per bhori due to a rise in the rates of pure gold in the local market. The price of the best quality gold or one bar of 22-carat (11.664 grams) gold has been increased by Tk 1,750 to Tk104,626 ... Read more

Bangladesh permits 375cc domestically produced motorcycles

News Desk : dhakamirror.com Bangladesh government has allowed locally made motorcycles of up to 375cc along with the existing imported motorcycles of up to 165cc to facilitate the expansion of the local industrial sector. The Bangladesh Road Transport Authority, under the road transport and bridges ministry, on Wednesday issued a circular in this regard. It ... Read more

Four-day tourism festival begins in Dhaka

News Desk : dhakamirror.com A four-day long festival to boost local tourism will be launched on September 27 in Dhaka to celebrate World Tourism Day 2023. The Bangladesh Tourism Board under the Ministry of Civil Aviation and Tourism will organise the festival titled ‘Bangladesh Festival’ at the Bangabandhu International Conference Centre. The festival will be ... Read more

Bangladesh Railway launches luggage vans with intercity trains

News Desk : dhakamirror.com To significantly increase the supply of perishable items, agricultural and other goods, Bangladesh Railway (BR) combined luggage vans with intercity trains on Sunday. The first van was combined with Sylhet bound intercity train “Joyantika Express”. Jayantika Express transported 4,600 kg of goods from Dhaka to Sylhet as Bangladesh Railway’s first intercity ... Read more

Bangabandhu Tunnel: Government sets toll ranging from Tk200 to Tk1,000

News Desk : dhakamirror.com The government has set toll rates for using the Bangabandhu Sheikh Mujibur Rahman Tunnel built under the Karnaphuli River in Chattogram, ranging from 200 Tk for cars to 1,000 Tk for 4-axle trailers, which is slated for inauguration in September. The Ministry of Road Transport and Bridges issued a circular in ... Read more