The cabinet committee on economic affairs approved the energy ministry’s proposal for production sharing contract of deep-sea gas exploration and civil aviation ministry proposal to set up a new radar systems at Hazrat Shahjalal International Airport under public private partnership.
Finance Minister AMA Muhith told reporters after the cabinet committee on economic affairs meeting at the cabinet division Tuesday.
He also said the civil aviation ministry will initiate to set up the new radar systems in Shahijalal International Airport as two radars at the airport are 19 and 28 years old respectively.
“Foreign airliners will not use Bangladeshi air navigation services after 2015 if Shahjalal International Airport is not updated in line with ICAO guidelines,” the minister also said.
About Production Sharing Contract -2012 model for deep-sea exploration, drilling and production the finance minister said the energy division relaxed its PSC condition as the international gas exploration firms termed Bangladesh’s PSC condition rigid.
The minister also said the price of 1,000 cubic feet of gas from deep-sea rigs will be increased every year by two percent and the oil companies be allowed to sell half of their share of the production to anyone in Bangladesh at their negotiated price without requiring Petrobangla’s refusal to buy it.
Muhith said the development works of a mega-project to tap tourism potential would soon start in Bangladesh’s sea beach town of Cox’s Bazar which will be constructed under PPP initiatives.
The project includes construction of some structures like setting up of tourism villages, a three-star and a five-star hotel on 160 acres of land owned by Hotel Shaibal.
An 18-hole golf course of international standard will also be set up there, the minister pointed out.
