Sunday, July 22, 2012

Destroyers control sharemarket: Finance Minister AMA Muhith Four funding alternatives for Padma bridge,Bangladesh


BANGLADESH NEWS

Finance Minister AMA Muhith on Sunday said the share market is 'in control of destroyers' and repeated attempts to stabilise the market from them have been hindered.

“We are trying to restructure the share market by December and then it will be free from the control of the destroyers,” the minister said.

He was addressing a dividend transfer ceremony of Bangladesh Development Bank Ltd (BDBL) at the finance ministry at Secretariat.

The minister also said the government has taken in consideration four alternatives to secure funding for the Padma bridge project.

"To restore the credit agreement with the World Bank is the first option followed by the second – going ahead with the project with funds from the other three donor agencies,” said the minister.

The three donor agencies are: Asian Development Bank, Japan International Cooperation Agency and Islamic Development Bank.

“The third alternative would be letting PPP (Public Private Partnership) implement the project and the final alternative is to go on with the Prime Minister’s announcement to build the bridge with own fund,” he said.

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