In the fullness of time, Bangladesh witnesses a long-harboured dream of having a bridge to cross the mightiest river Padma come true, thereby opening up a gateway to unbounded economic opportunities. The iconic bridge, rated as the 122nd-largest in the world, is expected to bring about an 'industrial revolution' in the 21 south-western districts of the country after setting this much-cherished linkage with the capital, Dhaka.
The Tk 301.93 billion bridge promises a great boost to the economy and an uplift to the lives and livelihoods of the most deprived segments of the population. The entire financial sphere is projected to massively benefit from the country's biggest infrastructure due to its multiplier effect. Thus, a longstanding dream and demand of the southerners get fulfilled.
An estimated 2.0-percent rise in the national GDP will occur alongside a 35-percent increase in the gross product of the southwest, coupled with an extensive change in the economy. On the other hand, job opportunities for 1.2 per cent of the total labour force will be created thanks to the bridge, mitigating woes of the masses grappling with toiling lives.
From the very outset, it had been presumed that the Padma Multipurpose Bridge would elevate the country's economic landscape to a magnificent height. It will substantially help in the efforts of Bangladesh's economy to bounce back from the fallouts of the Covid-19 pandemic, alongside playing role in attainment of sustainable development.
Not just considering the bridge as a transport entry, we should rather look on it as an economic corridor with our sights set on enhanced connectivity and reinforced multi-modal transport arrangements. Now importance is to be attributed to setting up economic zones to create investment opportunities and the country's private sector will have to be properly incentivised and the flow of foreign direct investment (FDI) should be encouraged in the process of boosting investment.
The long-awaited bridge can also be taken as a pathway to establishing sub-regional economic integration in the BBIN region - comprising Bangladesh, Bhutan, India and Nepal.
To reap optimum benefits from the construction of the bridge, comprehensive efforts must be made in promoting trade and commerce alongside the initiatives taken in the areas of rail, road and waterway linkages. Other appropriate measures will have to be taken to create income-generating opportunities and ensure economic uplift by way of attaining expected returns from such a colossal investment. Setting up special economic zones (SEZs) and industrial parks based on local resources of the country's southern part may open up unceasing job opportunities for the locals.
On a larger landscape, as planned, the integrated communications system that has been developed due to the bridge will be aligned with the Trans-Asian Highway (N-8) and the Trans-Asian Railway.
Terming the Padma Bridge an embodiment of 'unbounded development aspirations,' experts have long been urging the government to transform it into an economic corridor, ushering in an all-inclusive uplift of the nation. They have ever opined that it should not only be used for transportation, there must be its optimum use as a 'doorway to financial hub', with immediate establishment of economic zones and special economic zones, and other infrastructures of the like.
With no exception from others of the region, the people of Faridpur have started cherishing a spectrum of hopes for elevating their lives through economic uplift with the opening of the double-decker bridge.
Their socioeconomic condition in due course will reach a new height with new industrial and commercial ventures coming into existence immediately as industrialists and businessmen had already started buying land long ago with that purpose.
Construction of the Padma Bridge has opened up the door to socio-economic development of southwest Bangladesh, particularly Faridpur, said President of Faridpur Press Club and Editor of the local 'Daily Nagorik Barta' Md Kabirul Islam Siddiqui. A higher degree of momentum will now come in the export and import through Benapole land port, increasing its annual revenue collection by Tk 4,000 crore.
Quicker transportation of goods from the port to the capital will ease price cut of almost every item, said Shamsur Rahman, president of Benapole C&F Agents Association.
Around 80 per cent of raw materials needed for various industries including the readymade garment (RMG) sector is imported through Benapole land port and the bridge will expand industrial production as well as the markets for different agro-products in the south-western region.
Fish farmers and fishermen in Gopalganj are envisioning a missive change in their fortunes. The fisheries sector here is eying Tk200 crore annual profit for quicker and cheaper transportation of the produce. The fishermen are hopeful that the bridge will now facilitate carrying their catches to the capital, Dhaka, and direct sale to buyers and consumers will fetch them expected profits. Upon the district being surrounded by waterbodies- such as haors, baors, ponds, and beels- fish farming has become second-largest source of income for the people here, says a source at the district fisheries office.
Around 17,000 people from five upazilas of the district are involved in fish cultivation. Annually, more than 40,952 tonnes of fish are produced from various sources and they sell at an average price of Tk 200 per kg.
After the opening of the Padma Bridge, tourism landscape in the southern part is likely to see a conspicuous change. At present there are seven ecotourism centres in the Sundarbans. The forest department is building four tourist centres expecting more tourists after the Padma Bridge opens. Tourism of Khulna's Bagerhat, which is home to two world heritage sites - Sha? Gambuj Mosque and part of the Sundarbans--will receive a big boost.
Bangladesh thinks its foreign friends have already got the exact idea about how the country experienced huge challenges in the megaproject becoming a reality, which it could overcome in a formidable way. In 2012, the World Bank had pulled out of its $1.2 billion money-lending deal on Padma Bridge construction on corruption allegations, a claim later proved untrue by a Canadian court.
The Prime Minster Sheikh Hasina-led government went on the offensive, terming the global lender's stance 'disgraceful', and decided to go ahead with the much-hyped bridge scheme, using the country's own resources. As a consequence of a dauntless decision taken by the premier, the government of Bangladesh finally managed to construct the 6.15-kilometre-long bridge on own financial footing.
m farhadul islam