RTHD seeks Tk 4.85b as equity for DMTCL
FE REPORT | Thursday, 1 October 2020
The Road Transport and Highways Division (RTHD) has sought an allocation of Tk 4.85 billion as equity for Dhaka Mass Transit Company Limited (DMTCL), aiming to meet the company's interim operating costs, sources said.
The division has recently asked the finance ministry to take necessary steps to this end.
The paid-up capital of DMTCL is Tk 5.0 billion. Of the capital, the government has provided Tk 15 million in 2018 and 2019. The RTHD has now sought the remaining amount.
The authorized capital of DMTCL is Tk 100 billion, according to the division.
No fund or recourses have been kept in DPP/TPP of the ongoing projects under the DMTCL for meeting the company's interim operating costs, said an official.
There is no scope to earn any income before the launch of MRT line-6, he said.
The DMTCL needs funds to pay wages and allowances to its staff, procure vehicles and cover the cost of training, he mentioned.
The government established the DMTCL on June 03, 2013 for constructing, operating and maintaining, the Mass Rapid Transit (MRT) system, he added.
The government has taken a time-bound action plan under DMTCL to build a 128.74-kilometre network around Dhaka city and its adjacent areas.
As of August 2020, the construction work on the MRT line-6 is in progress. Detailed design work is going on for constructing the MRT line-1 by 2026.
Consulting firms (northern route) started work on August 12, 2020 for constructing the MRT line-5 by 2028. Besides, the process is now in final stage to appoint consulting firm for the southern route of MRT line-5.