Thursday | 16 January 2025 | Reg No- 06
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Thursday | 16 January 2025 | Epaper

Padma Bridge’s role in our economy

Published : Thursday, 19 November, 2020 at 12:00 AM  Count : 1856
Md Zillur Rahaman
Our communication system was depended on rivers from the ancient time. It was not so easy to construct the Padma Bridge without foreign source of finance. The initiative has been taken to make a bridge on Padma River to connect the southern parts with Dhaka. Initially the World Bank along with some international donors has a plan to finance in Padma Bridge project but stopped due to false allegations of corruption.

Thereafter our Prime Minister boldly decided to construct the Padma Bridge. Padma Bridge is crucial for the economic development of the southern region of the country. Already 37th span of the long waited Padma Bridge has been set up and 5.55 KM of the said bridge has already been visible. If another 4 span is set up, the whole bridge will be visible very soon. The Authority concerned has expected that the said 6.15 KM work of the bridge will be accomplished within the next December, before the Victory Day celebration. The construction work of the Padma Bridge has started on December 2014. It is expected that the bridge will be opened for public in 2021 after completion of the whole works.

The Padma Bridge will change not only the socioeconomic structure of southern parts of Bangladesh; it will also create positive impacts on the whole economy of our country. It will also connect the many countries of South and Southeast Asia, and will contribute on communication, trade, industry, tourism and many other sectors in various ways. Overall, it will be the materialisation of long waited dreams.

On the other hand, it will be the parts of trans-Asian railway. It will also connect the Chottogram, Mongla and Payra seaports with Dhaka. New dimension will be added in our national economy and it will contribute in growth and development of the country.

Economic growth and development of a country depends upon a good transport system. Agricultural product, raw materials and finished goods of industry depend on the easy transport system. For this, communication is called the pillar of economic development and definitely Padma Bridge will play the dominant role in this aspect.

Padma Bridge will change the economic activity of southern districts and employment opportunities will be created significantly in those areas. One side of the bridge is Mawa of Munshiganj and other side is Jajira of Shariatpur and both sides are important for tourism, industry and housing facilities. Southern districts will be the prime source of production and raw materials supply. Simultaneously, labour force movement will be easy creating new opportunity for our economy.

The main obstacle between the Dhaka and northern parts was the Jamuna River. Since the construction of Bangabandhu Bridge, the economic scenario of the northern part has been changing. People are being benefited in various ways--employment generation, industrialization, raw materials procurement, poverty reduction and everything was changed in positively.

The cost of the Bangabandhu Bridge has already been recovered. Total cost of the bridge was Tk 37.35 billion, while Tk 50.36 billion was recovered from July 1, 1997 to June 2019. Now it is contributing to our economy progressively and the same thing is expected from the Padma Bridge.

A combined transport system will be established on Padma Bridge. The southern part is already being developed in agriculture. After the construction of Padma Bridge, the raw materials will be reached in Dhaka and other parts of the country easily. Its impact will be reflected on the whole economy, network will be established connecting all the sea ports and land ports. Generally 12 per cent rate of return in investment is considered as good and after the Padma Bridge construction, the rate of return will be 19 per cent which is very much viable for all types of investment.

The Padma Bridge will improve the communication system between Dhaka and Kuakata, as a result, many tourists will visit at Kuakata, Sunderbans and its surrounding area and a strong communication network will be built up in the surrounding area's small islands. As a result then the potential of tourism in southern parts will be increased many folds. Many industries will be set up surrounding Payra port. Already many local and foreign potential investors are purchasing land nearby Payra Port in order to set up new industry.

New cities will be built up on both side of Padma Bridge. Many housing projects have already been taken initiatives. It has a good potential of hotel, motel and many tourist spot for amusement. Industrial project can be initiated through long term plan. Administrative centres can be established to reduce the pressure on Dhaka City. Padma Bridge will be the focal point between Asian and Southeast Asian communication system.

If the bridge is completed, then it will contribute 1.20 per cent to the GDP and in the same time, the poverty will reduce 0.84 per cent. It will change the socioeconomic status of more than 60 million peoples of southern 21 districts. Once the Padma Bridge was a dream but now it is the reality. This bridge will help us to materialise Bangabandhu's dream of Golden Bengal. It will add new dimension to our economy and the nation is waiting to see the bridge operational.
 The writer is a banker and freelance contributor






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