The Bangladesh Investment Development Authority (BIDA) has sought more than twice the funds it had originally asked for building its 12-storied headquarters (HQ).
The BIDA wants to make the building a luxurious one, officials said on Friday.
Besides, the country's investment promoter has also sought a total of eight and a half years time to complete construction of the HQ in Dhaka's Agargaon area.
The BIDA has now proposed to complete the building construction work by December 2019, they added.
The organisation has changed design of its HQ building, which will raise the original estimated cost of the project by more than 100 per cent, said a Planning Commission (PC) official.
He said the Authority has sought revision of the DPP for the second time, as it failed to construct the building in last seven and a half years.
According to the revised DPP, the BIDA proposed to spend Tk 1.98 billion higher funds from its originally estimated cost of Tk 983.48 million.
Another senior PC official said the Project Evaluation Committee (PEC), in its review meeting, raised questions regarding the delay in construction work and higher project cost.
He said if a public sector organisation like BIDA takes more than eight years to construct a building, it will be difficult for the agency to facilitate investment in the country.
Meanwhile, Executive Committee of the National Economic Council (ECNEC) revised the project in November last.
The BIDA undertook the project in 2011 for building its HQ at Agargaon at a cost of Tk 983.48 million.
According to BIDA, it has now changed the design of the building, and has cut the number of floors to 12 from 14 in the original design.
Besides, it has added some fresh components to the DPP and revised the ongoing components to make the building a luxurious one.
Sources said BIDA has proposed to add special fittings for the office room of its executive chairman and members, which will require extra money than the original estimation.
After the revision, BIDA will spend additional Tk 55.94 million for decoration in front of the lift and lobby areas of the building, Tk 99.50 million for perforated metal fudge-ceiling and wooden-rib fudge-ceiling, Tk 56.12 million for clear plus partition, and Tk 10.19 million for building the toilets for the executive chairman and members.
Besides, it will also spend extra Tk 42.30 million for ornamental curtain wall, Tk 75.41 million for anti-hit ornamental wall glass, Tk 27.56 million for mirror-polish homogenous floor tiles, Tk 50 million for auditorium acoustic works, and Tk 5.0 million for purchasing a car, the sources also said.
Another PC member said, "We were rather forced to approve the project. The review committee raised some questions about the delay and change in design with the inclusion of some components, which involve high cost."
"For a country like Bangladesh it is obviously an ambitious project, as its total expenditure will be financed with taxpayers' money," he added, requesting for anonymity.
"If BIDA takes eight and a half years to construct its office building, how will it work to enhance the country's investment-GDP (gross domestic product) ratio within a short period?" the official questioned.
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