Land tariffs for economic zones to be finalised today

The tariff plan prepared by Bangladesh Economic Zones Authority for leasing and renting lands in 16 economic zones will be finalised today.

Under the plan, if approved at a meeting of Beza's governing body, the tariff for per square metre land will range between $0.35 and $0.8 in case of leasing while it will range between $0.9 and $2 in case of renting.

The land tariff varies depending on the types of infrastructure -- developed, undeveloped and specialised.

“We are expecting that the tariff will be finalised at the meeting with Prime Minister Sheikh Hasina in the chair,” said Paban Chowdhury, executive chairman of Beza.

It is necessary to fix the tariff to allocate lands—which are developed or being developed under the authority and supervision of Beza in economic zones—to the entrepreneurs for setting up industrial units. An economic zone is a designated area in a country with special economic regulations that differ from the rest of the country.

An entrepreneur can enjoy various benefits, including tax incentives, from the authorities by setting up an industrial unit in an economic zone.

Chowdhury said the tariff should be very reasonable so that the investors, whether local or foreign, can get the lands easily.

He said they will also recommend the governing body allow Beza to create a welfare fund for the workers of economic zones.

Earlier in July, a tariff plan with higher prices than the latest proposal was placed at the governing body's meeting for approval. But the governing body, instead of approving the plan, reset a committee headed by the senior secretary of the Finance Division and asked it to come with a revised tariff plan.

The revised tariff plan will be of two types. The first will be made for Mirsarai, Feni, Shreehatta, Dhaka-2, Araihazar and Gazaria economic zones.

The second plan is meant for Cox's Bazar, Moheshkhali 1, 2, 3 and 4, Moheshkhali Special, Moheshkhali, Sabrang Tourism Park, Naf Tourism Park and Mongla economic zones.

The service charge will be 10 percent of the amount of any utility bills such as gas, electricity, water, recycling, purification and effluent treatment, while the regulatory fee has been proposed at Tk 500 for each permit.

Beza plans to set up 100 economic zones by 2030 that will create jobs for one crore people and produce goods and services worth $40 billion.