VAT Exemption for Metro Rail

Chittagong seaport is grappling with a backlog of container ships following a 60-hour operation shutdown caused by Cyclone Mocha in mid-May. The port experiences a daily waiting list of 10 to 15 container vessels at its outer anchorage, resulting in berthing delays. Gearless vessels, reliant on the port's gantry cranes for loading and unloading, endure extended waiting periods of up to five days. The Chittagong Port Authority's berthing schedule reveals that 15 container vessels were awaiting berths, with only four scheduled for 1 June.

The Bangladesh Shipping Corporation (BSC), a leading state-owned oceangoing vessel management authority, has witnessed a remarkable 23% year-on-year increase in profit, reaching Tk62 crore in the first quarter of 2023. This growth can be attributed to a significant rise in income from lighterage ships. The corporation's unaudited financial statements reveal a 14% boost in net revenue, amounting to Tk123 crore compared to the same period last year. The lighterage ship segment played a crucial role, contributing Tk30.44 crore—an impressive increase from Tk14 crore. However, revenue from charter ships declined by 8% to Tk65 crore due to damage suffered by one ship during the Russia-Ukraine conflict.

In a significant development, the government has authorized the establishment of a specialized Mass Rapid Transit (MRT) police unit to enhance security measures for the metro rail system. This decision comes in response to an incident where a train's glass window was damaged by an object. The Ministry of Home Affairs' Public Security Division issued a notification, signaling the formation of the unit, which was made public on the ministry's website.

Dhaka Mass Transit Company Limited (DMTCL) has appointed a contractor for the construction of Dhaka's third metro rail line, which will span from Hemayetpur to Vatara. The metro rail will cover a distance of 20 km and is estimated to cost approximately 41,238 crore 55 lakh taka (195 million dollars) at a rate of 2,062 crores per kilometer. The joint venture of TOA Corporation from Japan and Spectra Engineers from Bangladesh has been appointed for land development in the Hemayetpur metro rail depot area. The development cost per acre of land for this package is around 12 crore taka.

Indian budget airline SpiceJet has announced plans to launch flights connecting India's North East region with Bangladesh and Myanmar, aiming to enhance international connectivity. The airline aims to commence these flights by the end of June. Additionally, SpiceJet intends to bring back four grounded planes, including two Boeing 737 aircraft, into service by 15 June, according to reports from Indian media. As part of its 18th-anniversary celebrations, SpiceJet underwent a restructuring exercise to alleviate financial burdens and reduce liabilities.

India is set to provide 20 "slightly used" broad gauge locomotives to Bangladesh as a grant, addressing the locomotive crisis in the country. The handing-over ceremony will take place virtually, with the participation of railway ministers from both nations. This initiative comes as a result of Prime Minister Sheikh Hasina's visit to India in September last year, demonstrating the strong bilateral ties between the two countries. It is worth noting that this is the second time in three years that India has offered locomotives to Bangladesh in response to requests from Bangladesh Railway. In July 2020, India provided 10 "slightly used" locomotives as a grant following a proposal from BR.