The Cabinet on Monday approved a proposal for the formation of Padma Bridge Operation and Maintenance Company (PLC).
The decision has been taken to form a separate company for the operation and maintenance of the Padma Bridge. It will be a 100% government owned company, said the Cabinet Secretary
He said this company is being formed according to the Company Act.
There’ll be a 14-member board of directors for the company with representatives from different agencies including Bridges Division and Finance Division, he said, adding that the board will fix it's organogram.
Currently, Korea Expressway and China's Major Bridge Engineering Company (MBEC) are carrying out the toll collection and maintenance of the bridge. The foreign companies were appointed for five years.
Replying to a question, Mahbub Hossain said the proposed company will take over the responsibility after the expiry of agreement signed with the two foreign companies. Besides, the Cabinet approved in principle the draft of the Institute of Frontier Technology Act, 2014 to establish the institute at Shibchar in Madaripur.
The ICT Division placed the proposed law to set up it with the title of Sheikh Hasina Institute of Frontier Technology, but the premier didn't allow to use her name in its title despite requests from other cabinet members, said the Cabinet Secretary.
The main objectives for the institute include conducting ICT related research, innovations and training, he said.
The Cabinet also cleared the draft Export Policy 2024-2027 with some observations.
At the cabinet meeting, Prime Minister Sheikh Hasina directed all to implement the just approved national budget with competence and transparency in the new fiscal year.
She made the directive while chairing the Cabinet meeting at her office here.
Briefing reporters at the Secretariat, Cabinet Secretary Md Mahbub Hossain said the prime minister has given a special instruction that everyone should pay attention to the implementation of the budget with great care and vigilance.
“She directed all to implement the budget with precision and transparency,” he said.
The National Budget for 2024-2025 fiscal year was passed in parliament on Sunday.
