Padma bridge to get highest allocation

The Padma bridge project is set to get Tk 5,291 crore, the highest allocation in a single project, in the next fiscal year's budget although uncertainty remains over the utilisation of the fund. The total outlay for the transport sector will go up by 81 percent in the next budget, compared to the current one, due to the higher allocation for the bridge. The draft annual development programme for the next fiscal year has already included the project and the allocation. Allocation for the health sector may increase by 1.4 percent, power by 13 percent, rural development and institution by 4 percent, and education by 15 percent. Finance Minister AMA Muhith on several occasions said, as the Padma bridge will be constructed with own funds, the allocation for other sectors will not increase much. The Bridges Division has also sent the detailed plan for the Padma bridge financing to the Finance Division and sought consent to spending foreign currency. Although the Bridges Division initially sought Tk 6,852 crore for the project, the allocation has been slashed, but it may be hiked later, a planning ministry official said. The government has decided to implement the project with own financing after the World Bank withdrew its funding proposal on graft allegations. The total cost for seven components of the bridge will be Tk 23,185 crore, of which foreign currency worth $2.03 billion, which is equivalent to Tk 16,240 crore, will be required for various purchases from abroad. The Bridges Division hopes the construction, including river training, may begin by the yearend. Meanwhile, Communications Minister Obaidul Quader yesterday said they will invite bids by June for the construction of the main bridge. However, a finance ministry official said, if experienced and internationally reputed contractors do not participate in the bidding, they may invite fresh bids. The official said uncertainty still remains whether the construction work would begin by December. Another official from the same ministry said the government has an alternative funding plan too. If the present government comes back to power again, it will send fresh proposals to the Asian Development Bank and Japan International Cooperation Agency to join the funding. The finance minister has already got a signal from the ADB and Jica, the official said. However, in that case, the Anti-Corruption Commission will have to take action against the persons found involved in corruption in the bridge project based on the findings of its investigations, the official added.