Dhaka, Mar 18: In a bid to boost trade ties with Bangladesh, Pakistan has proposed to invest upto USD 400 mn in the country's fertilizer and paper mills and offered five million dollars soft term loans for the modernisation of its ailing sugar mills. The visiting Pakistani minister for industries and productivity Liaquat Ali Jatoi discussed the proposals with his Bangladeshi counterpart M K Anwar at his office here. "This is just a gesture of goodwill from the Pakistani government... Pakistan may offer more soft loans and may extend time for repayment," Jatoi told BSS after the meeting. Pakistan expressed its keen interest in a fertilizer plant, having 1700 tons daily production capacity, making investment amounting to 320 million us dollars, an industries ministry official said. The restructuring of the Karnaphuli paper mills, once belonged to Daud group of Pakistan, may cost up to 80 million dollars. The investment by Pakistan government in the mill will help it in raising its annual productivity from 30,000 tons to 60,000 tons.

The Pakistani minister said his government has offered the soft loan for the next five years to carry out the modernisation plans in sugar mills.

Pakistan was also willing to make investments in the country's textile sector, he added.

Bureau Report