Dhaka, Jan 7, 2008: The Advisers'' Committee on Economic Affairs Monday gave a nod to the proposed Dhaka City Underground Railway project for enlisting it with the PICOM for considering it as per Bangladesh Private Sector Infrastructure Guideline, reports UNB.

Private Infrastructure Committee (PICOM) is a highest policymaking body of the government to deal with the private sector-sponsored infrastructure projects which are planned to be implemented on Build-Own-Operate (BOO) or Build-Own-Transfer (BOT) basis.

A Thai private firm moved an unsolicited offer to the government to construct a 52-km underground subway across the capital city at a cost of Tk 6,000 crore.

The project is considered to be a prime solution to Dhaka city''s vexing traffic congestion.
As per the proposal, the Thai private firm will implement the project on BOT basis within three years from signing of the contract.

Finance Adviser Mirza Azizul Islam presided over the meeting of the Economic Affairs Advisers'' Committee, also known as the Cabinet Economic Affairs Committee.

The committee also decided to form a high-level committee, headed by the Energy Secretary, to further scrutinise the proposal for holding the 3rd round international bidding for hydrocarbon exploration in the country''s maritime territory.

The Energy Ministry moved the proposal to invite international bidding and also placed a Model Production Sharing Contract for the committee''s consideration.

As per the Advisers'' Committee''s decision, representatives from Finance Ministry, IMED, NBR, Law Ministry, Navy and Bangladesh Bank will be included in the Energy Secretary-led committee, which was asked to place its report before the Cabinet within two weeks.

The Cabinet Committee also nodded to a proposal of the Food Ministry to buy 2 crore pieces of jute bags from the Bangladesh Jute Mills Corporation without giving a mandatory 10 percent performance guarantee payment.

 

@ The Bangladesh Journal