ECNEC approves Tk 6.6b submarine cable project

The Executive Committee of the National Economic Council (ECNEC) approved the ‘Regional Submarine Telecommunication Project’ worth Tk 6.6 billion, aiming to connect Bangladesh with the 2nd submarine cable to meet the growing demand of bandwidth.

acnec_1-450x225The approval came from the 27th ECNEC meeting of the current fiscal year held at the NEC conference room on Tuesday. Prime Minister Sheikh Hasina chaired the meeting in the city’s Sher-e-Bangla Nagar alongside the ECNEC chairperson, Finance Minister AMA Muhith.

Planning Minister AHM Mustafa Kamal briefed to reporters after the meeting. He said that a total of 10 projects were approved on Tuesday worth Tk 23.6 billion.

“Regarding fund collection and logistics, Tk 15.3 billion will come from the government funds, Tk 1.5 billion from the organizations’ own fund while Tk 6.8 billion will come in as project assistance,” said the planning minister.

He said that the overall implementation status of the Revised ADP for the July-April period of the current fiscal year touched 56 percent with an expenditure of Tk 43,333 crore whereas the overall implementation status for the July-April period of the previous fiscal year was 54 percent with expenditure of Tk 34,557 crore.

The Planning Minister said that out of the total project cost of Tk 6.6 billion for the Regional Submarine Telecommunication Project, the government would provide Tk 1.6 billion, Islamic Development Bank (IDB) will give Tk 3.5 billion as project assistance and Tk 1.4 billion will come from the organisation’s own fund.

Bangladesh Submarine Cable Company Limited (BSCCL) under the Posts and Telecommunications Ministry will implement the project by June, 2016.

– Ittefaq Report