Dhaka: The Karnaphuli Tunnel mega project in Chittagong has hit a significant setback. The project, implemented based on a survey by a Chinese company, at a cost of 11,000 crore BDT, is facing losses instead of anticipated profits. Experts criticize the survey as unrealistic, arguing that the tunnel seems more like a showcase project.
Nearly 11 months after its inauguration, the Karnaphuli Tunnel is yet to meet expected traffic and revenue targets. Instead, maintenance costs have far outpaced income. Public opinion echoes these concerns, with many calling the tunnel an example of extravagance, as very few vehicles use it, but its maintenance costs remain steep.
According to the bridge authority, the tunnel currently handles around 450,000 vehicles monthly, with about 85,000 in the last month. However, the Chinese company’s initial survey projected traffic at four times this amount. In reality, the daily toll revenue averages around 12 lakh BDT, while the maintenance costs soar to 37.5 lakh BDT per day. Experts have pointed out that the project’s planning lacked proper foresight.
The bridge authority maintains that the survey followed standard procedures and projected that 17,000 vehicles would use the tunnel daily in its first year. However, only around 3,000 vehicles are currently passing through daily—barely one-fifth of the projected figure. As a result, it could take another decade for the revenue to match expenditures.
There seems little hope of recouping costs by increasing tolls for the tunnel’s users in Chittagong. Experts label the project as an unnecessary expenditure, calling it a “wasteful, vanity project.” Subhash Barua, a prominent communication expert, noted that the salaries of maintenance and security personnel alone far exceed the benefits the tunnel offers.
Istihak Rayhan, Assistant Professor of Economics at Jahangirnagar University, remarked that many Chinese-led projects undertaken during the previous government came at inflated costs and were out of touch with reality.
The Karnaphuli Tunnel, he argued, is a prime example. He warned that if major borrowing projects in smaller economies like Bangladesh fail to generate profit early on, they result in significant financial losses, as is happening with the Karnaphuli project. Ultimately, Bangladesh is now burdened with debt to China for what seems like a public vanity project.
