03/02/2014: Govt to finalise deal for construction of Dhaka-Mawa expressway

Govt to finalise deal for construction of Dhaka-Mawa expressway

DHAKA, Feb 03, 2014 (BSS) - Finance Minister AMA Muhith today said the government will finalise deal for the construction of Dhaka-Mawa expressway within the current fiscal year and the cost for this project will be US$150 million. 

"The probable outlay for the construction of expressway from zero-point of Dhaka to Mawa would be around US$150 million where the government will finance about US$100 million," the finance minister told the DCCI's board of members when they called on him at his secretariat office here.

Finance Minister expressed his disappointment for the sluggish activities by the contractors in implementing Dhaka- Chittagong and Dhaka-Mymensingh four-lane high ways.

He informed the delegation of Dhaka Chamber of Commerce and Industry (DCCI) that a change may come in the existing corporate tax rate by this year. He also underscored the importance of reforming Public-Private Partnership (PPP) policies for its proper implementation. 

Muhith said there is a scope of re-thinking to reduce bank interest rate on credit and invited recommendations from the business community in this regard. 

Led by its President Mohammad Shahjahan Khan, DCCI Senior Vice President Osama Taseer and Vice President Kh. Shahidul Islam were also present during the call on.

DCCI President Mohammad Shahjahan Khan placed ten recommendations regarding GDP growth and investment, modernization of NBR, reformation of capital market, reduction of bank interest rate, establishment of economic zones in different parts of the country, increasing tax-net, full implementation of PPP and connectivity. 

He opined that government should take measures to bring down the SPREAD ratio into 3 percent so that credit flow to the private sector can get a momentum. The DCCI President sought continuation of giving 2 percent incentive to the RMG sector for exploring new market for export.