Cabinet approves draft Metro Rail Act-2014

The cabinet approved in principle on Monday the draft Metro Rail Act, 2014 with a view to giving legal framework to the activities of the proposed Metro Rail Project in the capital.
"Mass Rapid Transit (MRT) Development Project (Line 6 of metro rail) is a priority project of the government. The cabinet approved the draft law to run metro rail including its operations, control and regulations smoothly," cabinet secretary Mohammad Musharraf Hossain Bhuiyan told the media after a cabinet meeting at the conference room of the Cabinet Division.
Prime Minister Sheikh Hasina presided over the meeting at the Bangladesh Secretariat.
The cabinet secretary said the proposed draft law has kept the provision for maximum 10 years' jail-term and a fine of Tk 10 million for violation of the law.
He said Dhaka Mass Transit Company Limited (DMTCL) will operate the metro rail once the project is implemented and Dhaka Transport Coordination Authority (DTCA) will act as the regulatory body of DMTCL.
"Six districts of greater Dhaka will come under the purview of the law. Similar MRT projects in future will also come under the law," he said.  The six districts are: Dhaka, Gazipur, Munshiganj, Narsingdi, Manikganj and Narayanganj.
He said the proposed route of the MRT Line-6 is: Uttara 3rd Phase-Pallabi- Rokeya Sarani-Khamarbari-Farmgate-Hotel Sonargaon-Shahbagh-TSC-Doel Chattar-Topkhana Road-Bangladesh Bank.
There will be 16 stations for MRT Line-6. These are: Uttara North, Uttara Central, Uttara South, Pallabi, IMT, Mirpur-10, Kazipara, Taltala, Agargaon, Bijoysarani, Farmgate, Sonargaon Hotel, National Museum, Doel Chattar, Bangabandhu National Stadium and Bangladesh Bank.
The cabinet secretary said special provision would be kept in the proposed law for land acquisition keeping similarity with the Padma Bridge Project and Bangabandhu Bridge Project.
He said there will be separate committees with the responsibility for issuing licences for operating metro rail and fixation of fares.
He said Executive Director (ED) of DTCA will be the head of the committee for giving licence, fixation of fares and appointment of inspectors to supervise metro rail operation.
The proposed law also has a provision for constructing and operating the metro rail on the basis of public and private partnership (PPP) subject to obtaining licence. If the metro rail is operated by the government then there will be no need for getting licence.
He said the draft law will now go to the ministry of law for vetting. After vetting it will again be placed to the cabinet.
The cabinet also approved the draft 'Govt Vehicles (Regulation and Use) Act, 2014 in line with the annulled ordinances promulgated during the tenures of two military governments, which were later declared illegal by the higher court. It also gave approval to the draft of the 'Investment Corporation of Bangladesh (ICB) Act, 2014'. The proposed act will incorporate some new definitions as well as drafting it in Bangla.
The definitions are formation of the Bangladesh Development Bank Limited (BDBL) following merger of Bangladesh Shilpa Bank (BSB) and Bangladesh Shilpa Rin Sangstha (BSRS), incorporating definition of securities, keeping provision of deputy managing director (DMD) posts.
The authorised capital of ICB will be Tk 10 billion from Tk 5.0 billion while the paid up capital will be Tk 4.22 billion. The face value of per share is Tk 10.
The proposed law also kept the provision of maximum two years' jail term or a Tk 0.1 million fine or both if any official or employee of ICB breaches secrecy. In case of misuse of name, the punishment is two years' jail or a fine Tk 0.1 million.
The cabinet also approved the proposal of signing a deal with Egypt titled 'Agreement on Economic and Technical Cooperation' to increase mutual cooperation.