The government has decided to form a separate company to manage and maintain the Padma Bridge. This 100% government-owned company will do the overall management including toll collection of the bridge.
This proposal under the title 'Padma Bridge Operation and Maintenance Company PLC' was approved in the cabinet meeting held at the Prime Minister's office on Monday (July 1) morning. Prime Minister Sheikh Hasina presided over it.
At the end of the meeting, Cabinet Secretary Md. Mahbub Hossain told this information to the journalists in the press briefing.
He said, the authorized capital of the company will be Tk. one thousand crore. Its main responsibility will be the maintenance of Padma Bridge. The company will have a board of directors of 14 people.
The Cabinet Secretary said there will be representatives from the Ministry of Railways and Finance, Bridge Division and Bridge Authority. They will follow the company law and approve the manpower structure. The main objective of the company is to gradually bring the operation and maintenance of this bridge under our control.
On June 25, 2022, Prime Minister Sheikh Hasina inaugurated the much awaited Padma Bridge. Tk. 31 thousand 105 crores were spent on the 6.15 km bridge. Through this, 21 districts of southern and southwestern regions are connected with the capital Dhaka by road.
Tk. 1648 crores of tolls have been collected in the last two years till June 25. The income from the movement of vehicles through this bridge is deposited as the bank of the bridge authority.
Korean Expressway, a five-year-old private company, is responsible for toll collection and maintenance of the bridge at a cost of Tk. 693 crore. After the contract with them is over, Padma Bridge will be managed under the company.
Md. Mahbub Hossain also said that the Cabinet has approved a law in principle to set up 'Institute of Frontier Technology (Shift)-2024' at Shibchar in Madaripur.
Information and Communication Technology Division (ICT) proposed to make this institute in the name of Prime Minister Sheikh Hasina, but she did not agree to it.
When the draft of the 'Sheikh Hasina Institute of Frontier Technology (Shift) Act, 2024' was presented in the Cabinet meeting, the Prime Minister directed to drop the part of her name. This institute will mainly conduct ICT-related technology, research, technology innovation, research training and research activities.
It will have a governing board and a chief sponsor, he said. The chief patron will be the Prime Minister. The Board of Governors will be chaired by the Minister of Information Technology. The Act has been approved in principle by the Cabinet.
The Prime Minister directed all the ministers and secretaries to implement the newly passed budget with utmost transparency, vigilance and care.
The Cabinet Secretary said that in the Cabinet meeting, the Prime Minister gave special instructions to everyone to implement the budget with great care, vigilance, mastery and transparency.
The Cabinet meeting approved the Export Policy 2024-27 yesterday. Export policy is formulated every three years. As the previous period ended on June 30, the new policy has added some special features.
The Cabinet Secretary said, we will lose some special privileges after transitioning to developing countries in terms of our exports. In that case, the new policy has been made with a view to keep our exports competitive and encourage exporters. Last year the export target was 80 billion dollars. This financial year has not yet been calculated.