International Monetary Fund (IMF) on July 12, 2023 approved a much-awaited $3bn bailout for Pakistan
Though the Bangladesh government took seven projects to construct permanent missions aboard in recent years, only one project is likely to be completed next year after revising the budget four times, sources in Dhaka and Islamabad said.
The Bangladesh government in recent years has started constructing six missions in Islamabad, Bandar Seri Begawan, Berlin, Thimphu, Canberra, Jeddah and one Bangladesh House Riyadh.
Out of the ongoing seven projects, the construction of the Bangladesh mission complex in Islamabad has marked nearly 75 per cent progress as of June 30, 2024, sources in Dhaka and Islamabad said. The mission complex will have a chancery complex, Bangladesh House and diplomatic dormitories.
Initially, poor evaluation and monitoring, lack of proper budget and guidance, political tension between two countries and short vision stand in the way of completing the project in time despite being in the priority list of the government, sources in Dhaka and Islamabad said. Sources said that Bangladesh perhaps got the largest piece of land in the posh diplomatic zone (16 bighas) in Islamabad.
Initially, parties who took part in the bidding process in the construction of Bangladesh High Commission in Islamabad had quoted low prices to win the budding.
However, the later Bangladesh government had to revise the budget as the cost of materials increased and Pakistan currency lost its value against US dollars 200-250 per cent. The economic crisis in Pakistan compelled its currency to lose by 200-250 per cent. The interim Pakistan government desperately looked to China, KSA, IMF and World Bank to bail out its staggering economy.
Meanwhile, the International Monetary Fund (IMF) on July 12, 2023 approved a much-awaited $3bn bailout for Pakistan, a move that is likely to help prevent the South Asian country from defaulting on its debt repayments.
In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilisation programme”.
However, the Bangladesh government took an initiative to begin constructing permanent missions in Islamabad back in 2007.
The initial project of the Bangladesh mission was 29.80 crore back in 2007. After revising four times, the project cost has been estimated at taka 97.42 crore.
As of June 30, 2024, the spending at the project stood at 71.5461 core taka. Sources in Dhaka and Islamabad said the government has set a target to complete the project by June 30, 2025. Md. Ruhul Alam Siddique is the incumbent Bangladesh High Commissioner to Pakistan now.
Meanwhile, the project of constructing Bangladesh chancery complex will be completed in Bandar Seri Begawan by this year, sources in Dhaka and Bandar Seri Begawan. Naheeda Sumona Rahman is the present Bangladesh High commissioner in Brunei now.
The government has earmarked a budget of 89.50 core to construct a chancery and a high commissioner’s residence . Source said under the project taka 41.31 core has been spent with the construction of Bangladesh chancery near completion by June 2025. The duration of the project ranges between March 2017 and June 30, 2025.
The project of constructing a permanent mission in Berlin got momentum during the outgoing 2024-25 fiscal year. The government allocated 24.71 crore taka in 2024-25 fiscal year and as of June 30, 2024, the spending stood at 32.6988 crore taka. The project ranges between July 2018 up to June 30, 2026, sources in Dhaka and Berlin said. Md. Mosharraf Hossain Bhuiyan is Bangladesh Ambassador to Germany.
The project to construct the Bangladesh house in Thimphu got momentum last fiscal year 2023-24 fiscal year. The government spent 23.97 core taka during the outgoing July-June 2023-24 fiscal year. The total spending of the project stood at 25.3188 crore taka as of June 30, 2024… Bangladesh Ambassador to Bhutan is Shib Nath Roy.
The project to construct a chancery complex in Riyadh was slowed in the last 2023-24 fiscal year. The duration of the project ranges between September 2019 and June 2025. The total project cost has been revised at 45.00 crore taka in Riyadh. Initially the cost of constructing Bangladesh House was 34.26 crore and later revised twice.
Meanwhile, the Bangladesh government took a project to construct a chancery complex in Jeddah with taka 226.29 crore after the first revised budget. The spending stood at only 3.00 core as of June 30, 2024. Bangladesh Ambassador in KSA Mohammad Javed Patwary.
Meanwhile, the project to construct Bangladesh chancery complex in Canberra marked poor progress during the last three years. The project cost of the chancery complex at 146.87 crore with duration of the project ranges between July 2021 and June 2025. Only 6.48 core taka was spent in 2023-24 fiscal year ….. M Allama Siddiki is high commissioner of Bangladesh in Canberra now.
The ECNEC on March 28, 2024 okayed a project of 165. 9746 crore to construct a chancery and resident quarters in Cairo with the duration of the project ranging between July 1, 2024 and June 30, 2028. Samina Naz is the current Ambassador of Bangladesh in Cairo now.