The cabinet committee on economic affairs yesterday gave retrospective approval of a project worth Tk 154 crore, to build model villages in Rangpur, Gopalganj and Bogura district, said Finance Minister AHM Mustafa Kamal.

Bangladesh Machine Tools Factory (BMTF) Ltd started construction work of three model villages with limited urban facilities to prevent decrease of agricultural land.

The decision came at a meeting held at the secretariat. 

BMTF, under management of Bangladesh Army, got approval for the work following the government’s direct procurement method.

The Executive Committee of the National Economic Council on August 19, 2014 approved the Tk 424 crore “Palli Janapad” project, through which four-storey buildings would be constructed in each village.

The initial plan was to built such villages at seven sites.  

“There has been significant progress in the construction work [of “Palli Janapad]. So far, 80 percent work in Rangpur and Gopalganj, and 40 percent in Bogura have been completed,” the finance minister said.

Initially, 272 flats in four categories would be constructed in seven villages. Allottees of each flat would pay 30 percent of the construction cost as down payment.

The rest would be paid in installments over 15 years, in addition to five percent simple interest on the amount.

The model villages would have shops, dairy or poultry farms, solar panels, biogas facilities, ATM booths, mobile banking and playgrounds.