Increase font size Decrease font size Reset font size

$50m US loan

2016-02-16
KARACHI: The U.S. Vice-President, Mr Hubert Humphrey, yesterday [Feb 15] announced a $50 million loan for the import of commodities for Pakistan. In a statement to the Press, after his 120-minute talks with President Ayub Khan in Karachi, Mr Humphrey also announced that the Governments of the US and Pakistan have agreed to early negotiation of an interim agreement of Food-for-Peace wheat shipments to Pakistan.

Meanwhile, he added, some 100,000 tons of wheat shipments are now arriving in Pakistan under previous agreements.

He said that at the talks he and President Ayub, and their advisers, reviewed in some detail the solid progress which Pakistan was making to improve the economic and social conditions of its people. He announced that the commodity loan would `help advance that progress`.

In the coming months, he said, Pakistan and U.S. of ficials would study what further steps could be taken to reach the economic and social goals that Pakistan has set for itself.

Deviating from the text of his statement at one stage, he remarked: `We have very fine working relations between the two Governments,` and `we seek to maintain that relationship and improve it` In his statement after the talks, the U.S. VicePresident said the talks were `very successful, constructive and I believe rewarding`.

He also expressed to President Ayub, he said, `the gratitude of President Johnson for the statesmanship President Ayub has shown in promoting the cause of peace on the subcontinent` The United States, Mr Humphrey added, `will do all it can to enhance the durability of that peace.

He said he was deeply indebted to President Ayub and his Ministers and also to Governor Harriman for the success and constructive development of the talks between the `two great friendly countries and allies`. Special Representative