The Bangladesh Journal - Bangladesh government takes initiative to raise govt owned land prices

The government has initiated a move to increase government land prices from the next fiscal year, reports bdnews24.com.

An inter-ministerial body, headed by Housing and Public Works Acting Secretary ASM Rashidul Hye, is working on the issue.

Hye told the news agency that they had formed separate committees comprising government officials in each district to review the land price.

The committees would make their recommendations soon, he said.

"We hope that we will be able to finalise the prices and send them to the finance ministry by the end of May after the committees submit their reports", he added. He further said that there had been no price hike of government land since 1993. The government has taken an initiative to re-fix land prices proportionate to the present value of land across the country.

The past BNP-led government took several initiatives to increase government land prices, but the attempts went in vain. The ministry had drafted a price list, but it could not be implemented.

Another public works ministry official, who served in the ministry during the past government, blamed real estate businessmen for government failure to increase prices.

Influential businessmen halted the government move influencing the then public works minister, he alleged.

He also felt that the interim government's move would face the same fate as the same businessmen were still very active.

Real estate businessmen purchase land at low prices from the government and sell it at very high prices, depriving the government of a big amount of revenue.

The government had earlier fixed the price of land in Motijheel, Dilkusha, Nawabpur and Phulbaria at Tk 20 million (2.0 crore) per bigha, Dhanmondi residential area at Tk 8.0 million, Kakrail, Eskaton, Elephant Road, Segunbagicha at Tk 10 million, Mirpur at Tk 1.6 million and Lalmatia at Tk 6.0 million.