New loan agreement with India

May 16, 1972

TK 1000 CRORE EMERGENCY PROGRAMME

The government is preparing an emergency reconstruction and development programme worth Tk 1,000 crore to normalise economic activities and increase overall production. It is hoped that if the programme can be implemented properly the overall production in the country will reach pre-war levels. This two-year programme will be declared along with the budget of FY1972-73. It will be a part of the first five-year plan. It will also complement the next development budget.

The government is also preparing an estimate for the country's total demand in food, agriculture and industrial sector up to June 1974. A primary assessment shows that total demand will exceed Tk 1,000 crore.

INDO-BANGLA LOAN AGREEMENT

Three loan agreements worth Tk 24 crore are signed today between Bangladesh and India.  The first agreement stipulates that India will give Tk 10 crore for revival of the rail and telecommunication system and purchase of tools and machineries for power stations. Under the second agreement Indian will give Tk 6 crore loan for purchase and maintenance of two F-27 aircrafts and two ships. According to the third agreement India will supply unrefined oil worth Tk 8 crore.

BANGABANDHU'S MEETING WITH DP DHAR

Bangabandhu Sheikh Mujibur Rahman today holds a meeting with DP Dhar, chairman of policy planning in the Indian external affairs ministry, at Gonobhaban. It is reported that the discussion focuses on bilateral relations between the two neighbouring countries, including the recently concluded Indo-Bangla trade deal.

2.5 LAKH BALES OF JUTE EXPORTED IN APRIL

Bangladesh has exported 2.5 lakh bales of raw jute and finished jute products in April. The total amount of jute export since independence is 8 lakh bales. Currently, jute is the only source of foreign currency for the country.

AGRICULTURE COMMISSION WILL BE SET UP SOON

Agriculture Minister Sheikh Abdul Aziz informs today that an agriculture commission will be set up soon. The commission will work for reconstruction of the agricultural sector to make it more productive and people-oriented.

SOURCE: May 17, 1972 issue of Dainik Bangla.