The monthly toll collection target from the Padma Bridge has been set at Tk 133.66 crore, and for the year, Tk 1,703 crore.
Apart from the maintenance of the bridge, the Bangladesh Bridge Authority will repay the loan for the construction cost with this money.
The bridge authority will pay Tk 36,000 crore with interest to the government of Bangladesh itself in 35 years, not to any development partner or organisation.
The bridge authority will be able to pay Tk 36,000 crore to the government in around 20 years if the estimated toll collection is realized properly. The amount of the estimated toll collection per year can be more as Padma Bridge is expected to give a big boost to trade and commerce in the south-western part of the country.
According to the Bangladesh Bridge Authority, the Padma Multipurpose Bridge was constructed at a cost of Tk 30,193.39 crore with the own funds of the Bangladesh government.
The Bangladesh Bridge Authority has taken the entire loan from the government.
According to the agreement, the loan has to be repaid in 140 installments for 35 years with interest at the rate of 1 percent per annum after completion of the project.
Besides, Tk 340 crore has to be paid as against Tk 211 crore taken during the preparation of the design.
According to the Bangladesh Bridge Authority, the toll has been increased by a maximum of 50 percent based on the existing toll rates for ferry crossings.
According to the toll rate collected by BIWTC on the Mawa-Jajira route ferries currently operating on the ferry (as of November 2020), Tk 5.60 crore per month and Tk 6.20 crore per annum are collected.
If it is one and a half times, the toll will be Tk 103.85 crore as Tk 8.65 crore per month.
On the other hand, according to the detailed economic and financial analysis report of the Padma Bridge submitted by the consulting firm in 2010, the toll will be Tk 133.66 crore per month as one and a half times the ferry toll rate as a traffic forecast for 2022.
On the basis of this report, the government expects to collect a toll of Tk 1,603.97 crore annually.
According to the 35-year loan repayment schedule mentioned in the loan agreement executed between the finance department and the Bangladesh Bridge Authority, a loan of Tk 596.88 crore has to be repaid in the first year of operation of vehicles on the bridge, according to sources.
It will gradually increase and in some years up to Tk 1,475 crore will have to be paid. Besides, maintenance and operation cost of the bridge, river management, VAT and tax payment will all have to be done from toll money. These issues have been considered in the case of toll collection.
The government has issued a circular fixing the toll of vehicles plying on the Padma Bridge.
According to the notification, toll for motorcycle has been fixed at Tk 100, big bus (Tk 2400), medium bus (Tk 2,000), car and jeep (Tk 750), four axle trailer (Tk 600, microbus (Tk 1300) and minibus (31 seats or less) (Tk1400).
Md Monjur Hossain, Secretary, Bridges Department and Executive Director, Bangladesh Bridge Authority, said, "We have implemented Padma Bridge by signing a loan agreement with the government. The government will have to repay the loan with interest which will come from toll collection. The toll rate has been fixed on the basis of the loan to the government, ferry fare and expert opinion."
Md Shafiqul Islam, the project director of the Padma Bridge, said, "We hope the money will come up in 20 to 25 years. However, it is difficult to say exactly. Maybe the money will come before that. It may also be late again."
People will get various economic benefits from the Padma Bridge, he mentioned.
"There will be various types of factories along the bridge. Employment opportunities will be created for many people. This will increase the GDP growth by 1.2 percent. It will have a positive effect on the economy of the whole country, he added.
