The government will finally form a special company to operate and maintain the country's largest Padma Bridge that was opened to traffic two years ago.
The weekly cabinet meeting held with Prime Minister Sheikh Hasina in the chair on Monday approved cent percent state-owned company named the Padma Bridge Operation and Maintenance Company which 99.99 per cent shareholders will be Bangladesh Bridge Authority (BBA), executing agency of the Padma Multipurpose Bridge.
According to the BBA, the Prime Minister's Office, Bangladesh Railway, power and energy, finance and ICT ministries will be other shareholders of Tk 1.0 billion (Tk 1000 crore).
The company board will be formed with 14 members - nine from the BBA and Bridge Division and five from above mentioned government offices holding only 130 shares. The company will have 100 million (10 crore) shares.
However, the BBA's company got the approval nearly two years after registration from the Registrar of the Joint Stock Companies. The BBA got the nod for the formation of the company on May 11.
The decision on formation of the company has been taken to accommodate significant portion of the PMB project staff into the
company as the project tenure ended in June this year.
A ceremony to close the project is likely to be held on July 5 on Mawa site in presence of the Prime Minister.
Official sources said the Padma Bridge O&M Company will carry all necessary works, especially operation and maintenance of the 6.15-kilometre bridge.
"Its full functional will take few more time as a Korean company has been carrying the operation and maintenance of the rail-cum-road two tier bridge," said an official.
Since the bridge was opened to traffic on June 26, 2022, the Korean Expressway Company (KEC) has been appointed for five years at a cost of Tk 6.93 billion to perform the O&M work.
Meanwhile, the cabinet also approved the Export Policy 2024-2027 as briefed by Cabinet Secretary M Mahbub Hossain.
smunima@yahoo.com
Govt to form special co to run Padma Bridge
Munima Sultana | Published: July 01, 2024 23:04:48
Govt to form special co to run Padma Bridge
Share if you like