Joydevpur-Mymensingh road being upgraded into expressway

Staff Correspondent

1 October, 2020 12:00 AM printer

The government will upgrade the existing Joydevpur-Mymensingh road into expressway Public-Private Partnership (PPP) initiative further improve the road connectivity,

The expressway will be constructed with the provision of service lane on both sides through PPP initiative with a Korean company, Finance Minister AHM Mustafa Kamal said on Wednesday.

Approval for the scheme came from the meeting of the Cabinet Committee on Economic Affairs held virtually with the finance minister in the chair.

 “Korea Overseas Infrastructure and Urban Development Corporation (KIND) will further widen the existing four-lane highway from Joydevpur to Mymensingh through incorporating some components under the PPP-basis,” Kamal told reporters in an online news briefing after the meeting.

The Finance Minister informed that the Korean company would bear an initial estimated cost of Tk 33.53 billion for the upgradation while the government would spend Tk 2.80 billion for rehabilitation of the affected establishments due to the upgradation while around one billion taka for utility transfer.

Asked whether the finance ministry could play a role to help the expatriate Bangladeshis who are willing to go to Saudi Arabia, but facing dearth of flights and tickets, Kamal said the concerned ministries including the ministry of Foreign Affairs are looking into the matter.

He said the countrymen as well as the government want that these Saudi returnees could go back to their places of work and thus could earn valuable foreign currencies for their motherland and also for their family members.

Replying to another question, the Finance Minister said the Bangladesh Bank has taken a very good decision to extend the period of loan installment payment till December 31 this year saying that the loan recipients and businessmen should get such facility since they are being affected due to the impact of Novel Coronavirus (COVID-19). “The period (installment payment of loan) has only been extended, but the loan recipients have not been exempted from paying their loans. If this period was not extended, then the export and import operations as well as settlement of L/Cs could have been hampered,” he said.

Mentioning that the trend of Non Performing Loans is on the downtrend while the balance sheets of the banks are also in good shape, Kamal said it is high time for the banks to support the businessmen. He also opined that if the businessmen as the clients of banks remain well, then the banks will also be benefitted.