Dhaka, Bangladesh (BBN): The Dhaka Stock Exchange (DSE) has offered to raise half of the fund for construction of the proposed Padma bridge from the share market, three days after the government withdrew its request for a World Bank loan.
“The stock market can be a major partner in the financing of the project if the government plans to use own fund,” DSE President Rakibur Rahman said on Sunday at a press briefing.
He said the government expenditure would increase due to interest payment if it collected funds from banking or other sectors. And for this, the government will have to set aside an allocation in the budget, which will squeeze funds for other development activities, hurting the private sector.
The government should draw up a plan to implement the project, making sure that it would not have a negative impact on the overall economy, Rakibur said.
Through offloading its stakes in different companies and wooing non-resident Bangladeshis in the stockmarket, the government can raise at least half of the fund needed for the project implementation, the DSE president said.
“The DSE is ready not only to be part of the bridge implementation, but also a campaigner for the project in home and aboard,” he added.
BBN/BB/AD/Feb4-13-11.25am (BST).
