SANGSAD BHABAN, July 8 – Prime Minister Sheikh Hasina today said the government would issue sovereign bond of US$750 million this fiscal to mobilize fund for construction of the Padma Bridge.
The government is also actively considering to realize surcharge, issuance of internal bond, prune some development programmes and maintain austerity at all level of the national life to pump in fund for the bridge, she said in her valedictory speech on the concluding day of this year’s budget session in the Jatiya Sangsad.
The Prime Minister assured the countrymen of launching the construction of the much-waited bridge this year and sought support of the countrymen and expatriate nationals in this regard.
Criticizing the World Bank for unilateral suspension of the credit agreement for the bridge, the Prime Minister said, “I have received many phone calls from fellow citizens at home and abroad. I have seen a national spirit in them which has made me inspired to go ahead with the project at our own source”.
“We have already calculated how much money we will need yearly for the bridge. And, with the help of the countrymen, we will begin the construction this year,” she said.
“Bangladesh economy is now much stronger to sustain worldwide recession. We have declared development budget of Taka 55,000 crore for the next fiscal from which we will keep provision for the bridge,” she said adding ” for this we have to follow some austerity measures and make sacrifice”.
The Prime Minister said, she has already talked to different ministries to slash some of their development projects and divert the saved fund for the Padma Bridge. By this time if any foreign country or company shows interest to provide support to the project, then we will certainly consider it giving highest priority to national interest.”
Sheikh Hasina again outright rejected the World Bank allegation of corruption in selection of the consultant for Padma Bridge Project saying the WB’s delay in taking decision to suspend the fund has caused immense financial loss for the country.
She said the government has spent about Taka 1,500 crore from its own sources for land acquisition and rehabilitation of the affected persons, which was closely monitored by lenders including the World Bank.
“The task was accomplished with highest transparency and accountability and no question they (WB) could raise about any
corruption at that time. So, how the World Bank raises the allegation of corruption now whereas they did not disburse any single penny for the project,” she said.
The Prime Minister said, ” I had requested the World Bank to float tender afresh if they found any irregularities or corruption. But, they adopted dilly dally practice and refrained from taking any quick action in this regard”.
“The World Bank not only followed the dilly dally on the project but also asked other co-financers not to release their fund,” she added.
“As a nation we can not accept this disgraceful decision of the WB with which we came to an agreement for Padma Bridge as they voluntarily showed interests to finance the project,” she said.
“In the past the World Bank prescribed us not to give subsidies to agriculture, power and energy sector. But, defying the WB recommendation we continued subsidies to those sectors in our own economic interests,” she said.
Sheikh Hasina said, “Whenever we have received any allegation of corruption in any project, we have sent those to the Anti- Corruption Commission (ACC) for necessary action”. At that time the Bank gave no document or paper on the alleged corruption in the Padma Bridge Project.
“Even though as the World Bank was insisting, we have changed the concerned minister, the secretary and the Project Director without any prove of corruption against them,” she said adding the World Bank came up with many prescription which were destructive for the country’s economy.
Sheikh Hasina said the aim of her government is to reach benefits of the independence to the people by ensuring socioeconomic development of the people, and the government is working relentlessly to achieve this goal.
“Bangladesh has achieved the hard-earned independence after massive movement and struggle. So, we want to reach the fruits of
independence to the people and ensure socioeconomic development of the people,” she said.
She said the country witnessed stunning successes in the
fields of agriculture, education, health, power, economy as well
as Digital Bangladesh.
The country, she said, has maintained over six percent growth in the last three and a half years despite the global economic recession. “The annual development programme(ADP) achieved 93/94 percent success last fiscal year,” she said.
The country would have experienced more successes if fuel price had not been increased globally and the Middle East crisis not created, she said.
The Prime Minister said the government has ensured food security of the people by increasing food production and expanded the social safety net. “There is a 14 lakh metric tons of food stock in the country,” she said.
Sheikh Hasina said the income of the middle class people and low income group has gone up substantially, while salary and allowances of the government staff and garment workers have been raised. “The government has also constituted the 8th Wage Board for journalists and employees of the newspaper industry,” she said.
The Prime Minister said the government has created employment for 75 lakh people including 4.50 lakh in the public sector.
Highlighting various steps for the development of the power sector, Sheikh Hasina said 1.30 crore people have been brought under the electricity network as 25 lakh new subscribers have been added in the last three and a half years.
“The country produced more electricity in the last three years than the amount the present government pledged its election manifesto,” she said.
The Prime Minister said Bangladesh received 1.13 billion dollar foreign direct investment proposal in the last year, while local investment is increasing rapidly.
“The country earned 12 billion dollars remittances in the last fiscal,” she said.
Sheikh Hasina said the government is continuing its struggle to strengthen democracy and ensure people’s empowerment. We have ensured voting and constitutional rights of the people, she said.
In this connection, she mentioned the holding of 5,202 elections in the last three years which were staged in a free, fair and peaceful atmosphere. Not a single question was raised from any quarter about the elections, she said.
The Prime Minister said Bangladesh was once recognized as a country of Bangla Bhai, militancy and terrorism. But the present
government has been able to free the country from that stigma by
curbing these social menaces with iron hands, she said.
She said her government has ensured good governance and fulfilled the hopes and aspirations of the people by strengthening the Anti- Corruption Commission, Election Commission, the National Human Rights Commission and setting up the Information Commission.
“We have been working relentlessly to turn Bangladesh into a middle-income country by 2021 keeping our election manifesto ahead,” she said.
Mentioning Bangladesh’s tremendous success in foreign policy, Sheikh Hasina said the country’s image has been brightened in the
outside world due to this success.
“The country has been able to maintain good relations with its neighbours as it believes in the principle of “friendship to all malice to none”, she said.
The Prime Minister underscored the need for making the country self-reliant instead of dependence on others. “We want to stand on our own feet in all sectors,” she said.
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