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PM asks officials on Padma bridge fund

M Abul Kalam Azad
Prime Minister Sheikh Hasina yesterday directed top government officials to immediately find alternative sources of funding to begin construction of the Padma Multipurpose Bridge.
She asked them to assess Malaysia's offer of funding the bridge project, and come to a conclusion soon.
Giving the directive at a high-level meeting at her office, Hasina said, “Take urgent steps so that we can start construction immediately," a meeting
SEE PAGE 6 COL 7 FROM PAGE 1 source quoted the prime minister as saying.
The meeting was attended by the secretaries of Finance Division, Economic Relations Division and Bridge Division, and the governor of Bangladesh Bank.
Contacted last night, Bridge Division Secretary Khandaker Anwarul Islam said, "It will take us about two weeks to evaluate the Malaysian offer."
In a draft proposal on Thursday, Malaysia offered investment of $3 billion for construction of Padma bridge in three years.
Meanwhile, experts noted that Malaysia has no track record of funding such massive project, and has no large firm for constructing the bridge. So, the government should look for other alternatives, including Japanese and Chinese funding, for implementing the largest infrastructure project in Bangladesh.
Both China and Japan have interest in financing the bridge project, and also have the ability to construct the bridge, said official sources.
On Saturday, the World Bank cancelled its $1.2 billion credit for the project.
A high official of the Bridge Division, who is involved in the project, told The Daily Star yesterday, "China has made an unofficial offer for financing Padma bridge project. It has not made any formal pro-
posal since the World Bank was involved in it. There is no problem for Chinanow."
He said, "There were discussions between [Bangladesh] government officials and Chinese representatives at different forums over the last few months about financing the bridge project The matter was also discussed during the Bridge Division secretary's recent visit to China.”
A state-owned Chinese company, which is working in some construction projects in Bangladesh, is ready with a proposal regarding Padma bridge (at Mawa-Janjira point), the official added.
China has already shown interest in the proposed second Padma bridge at Paturia-Daulatdia.
Communications Minister Obaidul Quader told The Daily Star on Saturday that apart from Malaysia, two other sources -- Qatar and another rich country in Asia— are also ready to fund the Padma bridge project.
He said if Malaysia gives a final proposal, "we will review it thoroughly and see whether the interests of Bangladesh have been protected. We will go for a final deal with it only if we find things positive". He went on, "But, if the negotiations with Malaysia fail to prioritise our national, economic and public interests, we will go for other options, which are also