DHAKA: The cabinet committee for purchase approved the proposal for orbital slot lease from Russia for Bangabandhu Satellite Launch project.

The cost of the lease was estimated $28 million.

The approval came from a meeting chaired by finance minister AMA Muhith on Wednesday.

After the meeting, Joint secretary Mostafizur Rahman was briefing reporters in this regard.

Bangladesh Telecommunication Regularity Commission (BTRC) will take the lease from Russia’s ‘Intersputnik’ under the project.

The government has allocated a total of Tk 218.96 crore in the Development Project Proposal (DPP) for the slot. The project will be implemented within 2017.

So, after the satellite launching, the country will get commercial success according to the proposed business plan.

Earlier, the cabinet committee for economic affairs approved the project.

BDST: 1821 HRS, DEC 28, 2014