DACCA: The contract for a loan of 1,00,000 tons of Japanese rice to East Pakistan will very soon be signed in Tokyo, a spokesman of the Japanese Consulate-General told [agency] in Dacca today [Nov 11]. The spokesman said that the shipment of rice, which will begin soon, is expected to be completed by Feb 1970. The decision to provide a loan of 1,00,000 tons of rise to Pakistan was taken this morning at a Cabinet meeting of the Government of Japan, the spokesman said.

The contract for the above loan will be signed in Tokyo very soon after the necessary formalities are completed under the following terms:

(1) One lakh tons of rice will be repaid in 20 years with 10 years’ grace period from similar rice to be produced in Pakistan. (2) The repayment will commence from 1980 to 1989 with the shipment of 10,000 tons per year, along with an additional 2,000 tons per year, which will be paid as loan charge, i.e. Pakistan will pay a total quantity of 20,000 tons as loan charge.

In addition to the above, handling charge for every ton 11.4 US dollars per ton, i.e. a total amount of 1.14 million US dollars would be paid by Pakistan. — Agency

Published in Dawn, November 12th, 2019