The government has approved the country’s first satellite project, styled Bangabandhu 1, revising down its estimated cost to Tk2,967 crore, down 10.7% from its original cost of Tk3,253 crore.
The project revision came after the Finance Ministry objected the initial estimated cost.
The satellite project was one of the six projects that received the green signal of the Executive Committee of National Economic Council (Ecnec) yesterday at its meeting chaired by Prime Minister Sheikh Hasina in the capital’s NEC conference room.
Of the total satellite project cost, the government will provide Tk1,315.51 crore and the rest of the Tk1652.44 crore will come form foreign assistance.
Although the project is expected to be completed by June 2017, sources inside the project have claimed that meeting the deadline would be impossible.
The Bangladesh Telecommunications Regulatory Commission (BTRC) will implement the project by launching the satellite in space with broadcasting facilities, in a bid to make information and communication technology more available and upgrade the facilities to an international standard.
US-based company Space Partnership International is acting as an adviser of the project and has already made a design.
An official said the country will be able to save Tk110 crore yearly once the project was completed. The amount is now being paid to different foreign companies by the country’s 28 television channels for transmission.