He said for the fourth and fifth years of the Second Five-Year Plan, he will discuss the possibilities of foreign aid in Washington with the World Bank in January when he goes there to hand over charge of the bank’s Executive Directorship.

For the next two years of the plan, foreign exchange to the tune of 600 million dollars each year will be needed. Mr Shoaib hoped the Consortium countries would contribute generously as they did in the past.

The Finance Minister said his policies would be directed towards achieving stability in per capita income and industrial development and hoped that friendly countries would extend the necessary assistance.

Referring to the withdrawal of Rs30 crores from the State Bank by the US disbursing officer, Mr Shoaib said Pakistan would not allow this money to be utilised to its detriment. He said out of the total realisation from the sale of commodities received as aid, 80 per cent is retained by Pakistan and the remaining 20 per cent goes to the American account.—Staff Correspondent

Conventionists meet Ayub

KARACHI: President Ayub discussed re-organisation of the Conventionist Muslim League with the party leaders in Karachi last evening.

The Party’s President, Choudhri Khaliquzzaman, and the party’s Secretary, Mr Manzar-i-Alam, called on President Ayub at the President’s House. It is learnt that during the about half-an-hour meeting the two office-bearers discussed the progress on re-organisation of the party whose presidentship they had offered to President Ayub some time back. President Ayub had stated that he would consider this offer after the party was re-organised on the basis of elections.—Agencies