PM to make public appeal for donations to build Padma Bridge

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Nizam Ahmed
Prime Minister Sheikh Hasina is likely to make a formal public appeal seeking donations from corporate business houses, trading firms, banking sectors, financial institutions, etc., for building the Padma Bridge with local resources, officials said on Tuesday.
"The prime minister is likely to make the public call for donation in a televised speech to the nation soon," an official of the prime minister's office (PMO) told the FE.
Prime Minister Sheikh Hasina and her government opted for building the $3.0 billion Padma Bridge, an electoral pledge of her party, after the World Bank (WB) had cancelled its pledged $1.2 billion loan for the multipurpose bridge on alleged corruption bids late last month.
"The prime minister may appear in the television as the nation has taken the proposed bridge building as a challenge, after the WB has stepped out" said a senior leader of the ruling Awami League (AL).
Addressing a meeting of the central executive committee of the ruling Awami League, the prime minister expressed her firm determination on Monday to start construction of the Padma Bridge with own fund, the AL leader said.
Earlier on the same day a cabinet meeting, presided over by the prime minister, decided to open two bank accounts, one for collection of local currency and the other for accepting donations in foreign exchange.
The bank accounts will also be opened soon so that donors can send their donations in a transparent way to build the 6.15 kilometre-long bridge over the river Padma.
Donations will also be sought from non-resident Bangladeshis and affluent organizations and individuals in the country.
The prime minister also told the executive committee meeting held at her official residence Gonobhaban that the relevant authorities had already collected the fund to be spent in the first one year of construction.
There is a great enthusiasm among the people who are eager to build the bridge with the local fund and without begging from outside, the prime minister told the meeting.
"It is a great return from the people. I am grateful to the nation for its sense of self-dignity. House-wives say they will slash daily home expenses, and students their tiffin-bills to fund the bridge," said the prime minister.
"Members of parliament and the cabinet already said they would donate one month's salary. It means people have come up to donate for the bridge."
"People rise up and come forward whenever there is a national need," the prime minister said.
The speech she made at the executive committee meeting on Monday was similar to one in which the prime minister appealed to nationalist sentiment by invoking memories of the 1971 war of liberation at a parliament session on July 8.
"They want us to beg. They want us to act as guinea pigs. We will go ahead with this project using our own resources," Sheikh Hasina told the parliament.
The WB cancelled its pledged $1.2 billion loan on June 29 last on alleged corruption bids in the selection process of consultants in 2011.
Following the WB, the Asian Development Bank ($615 million), Japan International Cooperation Agency ($400) and Islamic Development Bank ($140 million) also refrained from releasing their committed funds.
The government denied the corruption allegation and quickly opted for alternative funds rather than the WB to build the bridge to fulfill its election pledges.
Meanwhile, a section of analysts in Bangladesh believes that the WB has no sufficient grounds to substantiate the allegations of corruptions.
They rather blame the WB for trying to compel a selection committee in 2011 to qualify a controversial Chinese firm, which lacked in capacity to ensure adequate quality and also submitted forged documents in a bid to qualify in a tender for selection of consultants.
However, another section of analysts want that the government should publish the WB reports on alleged corruption. But Finance Minister AMA Muhith said the report would be published at an appropriate time, asserting that there was no corruption at any stage of the selection of the consultants.
Meanwhile, the prime minister's office (PMO) has taken plan to mobilise resources, including levying surcharges and issuing sovereign bonds worth at least $750 million.
The PMO has already asked different ministries to stop implementation of projects, having lesser priorities and divert the fund for the Padma Bridge.
However, experts are locked into a fresh debate whether donor-dependent Bangladesh, having a population of more than 150 million and per capita income of $850 million, will be able to build the bridge on its own.
A section of experts says it is impossible for the country at this moment as the export growth is now sluggish and trade deficit is on the rise due to higher imports of fuel to feed power plants.