New company formation for Padma Bridge’s security approved

Online Desk

The Cabinet on Monday approved the formation of a dedicated state-owned company for ensuring security of the Padma Bridge.

The new company would be named Padma Bridge Operation and Maintenance Company PLC and it would have Tk 1,000 crore in authorised capital, the Cabinet meeting led by Prime Minister Sheikh Hasina decided.

Cabinet Secretary Md. Mahbub Hossain confirmed the decision to reporters in a post-meeting briefing saying the government would gradually bring the bridge under its control, Daily Sun reports.

The company would have a 14-member board of directors and would operate under the Company Act. Board members would include representatives from the Ministry of Railways, Ministry of Finance, Bridges Division and Bangladesh Bridge Authority, the secretary said.

bd-pratidin/GR