The government is weighing different options to mobilise nearly Tk 3,000 crore soon as Bangladesh economic zones authority sought the fund for land acquisition required to build four special economic zones in the country for local and foreign investment.
The BEZA early this month sought the amount from the finance ministry to acquire about 9,500 acres of land.
However, the ministry of finance has laid out three options to make the fund available as no allocation was made in the current budget estimates against such huge land acquisition for the authority, a senior finance official said.
The first priority has been to prepare a project proposal by the economic zones authority so that next budget could allocate the required fund in the annual development programme against the project as revenue budget of the current financial year cannot make such a huge allocation given its resource constraint, the official said.
Secondly, the ministry advised the BEZA to seek fund from Bangladesh Infrastructure Finance Fund Ltd, a state-owned firm, meant for funding projects under the public-private partnership initiative.
Finally, BEZA has been asked to communicate with donor agencies for their low-cost fund to complete the land purchase deal.
A meeting held last week at the finance division of the ministry, attended by BEZA executives, outlined the funding strategies.
Four proposed first-track economic zones are : economic zone in Sirajganj on an area of 1,035.93 acres of land, one in Sherpur (Moulvibazar) on 353 acres, one in Mirershorai on 6,615.12 acres and one in Anwara (Chittagong) to be built on 1,389 acres of land.
The government approved the Economic Zones Act in 2010 to attract both foreign and domestic investors.
Officials concerned at BEZA said donors showed no interests in funding land acquisition for the purpose of constructing economic zones. BEZA would soon hold meeting with BIFFL to secure fund.
The BIFFL, which functions under the finance ministry, has got a fund of Tk 1,700 crore.
Paban Chowdhury, executive chairman of BEZA, said they were exploring all the opportunities to secure the required fund to purchase land before developing required infrastructure on the land by interested foreign investors.
‘They (finance ministry) can allocate at least a portion of the required fund so that land purchasing drive progresses,’ Paban told New Age on Thursday.
Paban said after purchasing the lands, BEZA would move to build the required infrastructure on the land.
‘I am hopeful of completing the land acquisition within the next six months,’ Paban said.
-With New Age input
