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Pakistan scrounging for alleged pre-war dues worth $88m
[Dhaka Tribune] Islamabad has begun the process of asking Dhaka for around $88m that it says are "outstanding dues" that Bangladesh owes Pakistain.According to a Pakistain Express Tribune report, Pakistain’s central bank has written to Pak commercial banks and development finance institutions, asking for details of assets and other dues receivable from Bangladesh and India. No Bangladesh government officials have yet commented on the matter. The State Bank of Pakistain (SBP) circular says the receivables and assets include land, buildings, furniture and fixtures, office equipment and vehicles, government securities, papers, loans, advances and investments. According to SBP figures, the value of assets in Bangladesh’s possession is more than 9.21bn Pak Rupees, approximately $88m, at the end of June 2016. India is estimated to owe 6bn Pak Rupees, roughly $57m. Pak Banks and financial institutions were also asked to provide details of any write-offs they made in respect of assets or dues. The Express Tribune report, quoting SBP figures that Bangladesh as the then East Pakistain owed Pakistain’s federal exchequer, said the money in question included transactions between government offices, loans, advances and papers. Details from banks and financial institutions that will be provided to the SBP are expected to increase the estimated outstanding dues. Pakistain says India has been Pakistain’s debtor since the time of partition. These debts include gold reserves, sterling securities, Indian securities, rupee coins and Pakistain’s share in the Indian currency at the time of partition. Md Shahidul Haque, secretary of Foreign Affairs Ministry, declined to comment on the matter when contacted by the Dhaka Tribune. The issue came to the fore at a time when a serious discussion kick started in Bangladesh public sphere regarding what Bangladesh is supposed to receive from Pakistain as pre-Liberation War dues. In 2015, Bangladesh Foreign Minister AH Mahmood Ali told the Jatiya Sangsad (Bangladesh Parliament) that Pakistain owes Tk18,000 crore (approx $2.3bn), which includes $2.16bn ‐ half of the wartime reserve of undivided Pakistain ‐ and $200m as the 1970 cyclone relief donated by foreign governments. He also said these financial issues had been raised in all bilateral talks since 1977 but the Pakistain representatives are yet to respond on the matter. Posted by: Fred 2016-11-16 |
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