The Hindu Business Line : Validity period for line of credit to Bangla extended

THE Union Finance Minister, Mr Jaswant Singh, has assured his Bangladesh counterpart, Mr Saifur Rehman, that structural work at the Land Customs Stations on the India-Bangladesh border will be expedited. These structures are intended to provide storage for perishables being exported from India.

The Land Customs Stations at Petrapole in West Bengal, Dauki in Meghalaya, Sutarkandi in Assam and Agartala in Tripura have been identified for the first phase of the developmental work.

In his talks with the Bangladesh Finance and Planning Minister, Mr Singh also conveyed New Delhi's decision to extend the validity period for the Rs 200 crore line of credit to enable Bangladesh to avail the balance credit of Rs 26 crore.

The ambit of commodities for which the credit can be utilised has also been widened and the amortisation plan has been rescheduled, an official release said. Mr Rahman informed Mr Singh that Bangladesh has a major regeneration programme for roadways and railways which will have a positive impact on trade between the two countries.

The two sides also agreed to step up cooperation on the rail sector and referred to the ongoing activities of IRCON and purchase of rolling stock by Bangladesh Railways. Both the ministers also agreed to address the issue of non-tariff barriers.

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