After the cost escalating 287 per cent than the original and time overrunning six more years, the Payra Port Authority now seeks fund re-arrangement to complete Payra seaport's operation-supporting project -- setting an epic example of how public work execution delays frustrate the outcome.
However, the port authority in an optimistic tone said they are about to finish the project and the money re-arrangement in some components and sub-components would streamline the finishing works.
Beginning in July 2015 at a cost of Tk 11.28 billion, the 'Development of Necessary Facilities at the Payra Port for its Smooth Operation Project' was supposed to be completed in June 2018.
The project includes development necessary infrastructure, acquiring and developing lands, rehabilitating affected families, building 5.22-km port connecting roads and channel dredging.
Now the project cost has jumped to Tk 43.75 billion -- 287 per cent higher than the original cost, while the deadline crept forward by six years.
"Since we need to interchange the fund allocations in some components of the project, we sought the money re-arrangement among the internal sub-sectors," said a shipping ministry official.
In condition of anonymity, he said they have almost completed the works, and are now about to commence the final touches.
According to the official, the fund swapping would streamline the finishing works.
After missing the initial three-year deadline, the Payra Port Authority in its first revision got the cost inflated to Tk 33.50 billion, and the deadline extended to June 2020.
After failing to complete the project in 2020, the port authority sought the second revision boosting the cost to Tk 43.75 billion with another two years of extension up to June 2022.
However, the port authority failed comply the deadline, and applied for one-year more time extension up to June 2023.
Again, the port authority failed, compelling the government to extend the deadline up to June 2024 without increasing the cost.
"We had been forced to revise the project and extend the deadline as the port authority failed to complete the project in time," a senior Planning Commission official, wishing not to be named, said. "It has already made the purpose of the project outcome vulnerable and the country has failed to get the expected port services for the past six years," he added.
The govt has invested a huge amount of money for the port facilities. However, the outcome remained elusive for the project delays, the official added.
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