Strategic Management

Topics: Bangladesh, Sheikh Hasina, Fakhruddin Ahmed Pages: 4 (1427 words) Published: December 20, 2012
Padma bridge project by own fund :Govt to issue $750m sovereign bond for Padma Bridge : PM July 9, 2012
By guru
Prime Minister Sheikh Hasina said Wednesday Bangladesh will construct the much-talked-about Padma Bridge with its own fund, if necessary, reports UNB. “We’ll go for it with our own fund, if needed,” she informed parliament amid table thumping by MPs. Hasina said she already had a meeting with the Bangladesh Bank governor, the Economic Relations Division and Finance Secretary Tuesday regarding funding of the project. “Our economy isn’t in that much bad shape. I asked them how much money it (Padma Bridge) will require. I also enquired about using our own reserve for this purpose by taking one or two billion dollars a year,” she told the House in response to a supplementary question from independent lawmaker M Fazlul Azim (Noakhali-6) during the PM’s question-answer session. The Prime Minister mentioned that the country which can move forward on its own strong feet during the global economic recession can also go for building a mega project like Padma Bridge with its own fund. “At this time of recession many countries across the globe feel the pinch, but Bangladesh is moving towards the right direction,” she said adding, “Inshallah, we’ll start the construction work of the Padma Bridge.” About Malaysian proposal for the constriction of Padma Bridge, she said, “Any proposal will have to be acceptable to the country and its people first.” Prime Minister Sheikh Hasina said on Sunday the government would issue sovereign bonds worth US$750 million this fiscal to mobilise funds for construction of the Padma Bridge, reports BSS. The government is also actively considering realisation of surcharge, issuance of internal bond, pruning some development programmes and maintaining austerity at all levels of the national life to pump in funds for the bridge, she said in her valedictory speech on the concluding day of this year’s budget session in the Jatiya Sangsad....
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