No fund arranged yet for Bangabandhu-1 satellite project

Uncertainty looms large over implementation of the ambitious satellite project, Bangabandhu 1, as the authorities concerned could not confirm the 'orbital slot' for sending the satellite into space due to a scarcity of fund, sources say.
The government is yet to confirm sources of funding. Some foreign countries, however, showed interest in financing the project.
Besides, the government is again assessing its financial viability after the satellite project was undertaken in 2008 during the last term of the AL-led government.
"We are examining the financial viability of the satellite project and the concerned department is trying to manage fund from different foreign sources," a source at the telecommunication ministry said.
It might be implemented by 2016 or 2017 if everything went well, he added. Earlier, the government set the target of sending the satellite into space by 2015.
Last year, the International Telecommunication Union (ITU) allotted the orbital slot in '119.1e' longitude from Intersputnik, the international negotiator for the country, to place its first satellite 'Bangabandhu-1' into space by 2015.
Talking about the orbital slot of the satellite project, commissioner at the Bangladesh Telecommunication Regulatory Commission (BTRC) A T M Monirul Alam said his commission expected to get orbital slot in '119.1e' longitude. But it (BTRC) could not confirm the slot until the fund was available for the project.
Sources said the government was supposed to pay a perpetual lease amount of US$28 million by March 31 last for acquiring the orbital slot.
Earlier, Finance Minister AMA Muhith said that development the project proposal (DPP) for the satellite would be prepared. But he did not confirm allocation of money for the slot.  
Total project cost of the Bangabandhu-1 project is Tk 32.48 billion (Tk 3,248 crore). Of this, the government will bear Tk 15.60 billion from its own fund and the rest will be met through foreign lending.
Exim Bank of the US, HSBC (Coface), JBIC of Japan, CGWIC of China, and CWC Gulf International London sent proposals to finance the project.
On March 29, 2012, BTRC appointed the Space Partnership International (SPI) of the USA to provide expert guidance required for launching the satellite.
According to BTRC, the Bangabandhu Satellite Project was a national pride and a regional satellite with 70 per cent of revenue coming from external sources.
The remaining 30 per cent capacity will serve Bangladesh and will save US$ 14 million spent for the 25 TV stations and VSAT networks.