AUSTERITY IMPORT POLICY TO CONTINUE/NEW RAYON MILL

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP83-00423R001600750001-1
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 1
• Document Creation Date: November 9, 2016
• Document Release Date: February 4, 1999
• Sequence Number: 1
• Publication Date: September 20, 1954
• Content Type: REPORT

FORM NO. 51-~t I
DEC 1951
App
10 : CIA-RDP83-00423R00160001-1
U.S. Officials Only
INFORMATION REPORT
SUBJECT Austerity Import Policy to Continue/New Rayon Mill
PLACE ACQUIRED
(BY SOURCE)
DATE ACQUIRED
(BY SOURCE)
_3PYRGHT
-- 11 UL IRdJJ [ awlikk
W-L
25X1A6a '11
~"
_ro;iat
THIS IS UNEVALUATED INFORMATION
25X1X6
DATE DISTR.
NO. OF PAGES
NO. OF ENCLS.
SUPP. TO
REPORT NO.
25X1A2g
1. "Pakistan's import policy for the shipping period July-December 1951+ does not
contain any major changes meaning that there will be six more months of austerity
for consumers. The total number of items allowed for imports has been slashed to
11111- as against 271i. during the previous shipping period, but the number of articles
under some of the heads has been increased.
2. "Explaining the policy, Pakistan's Minister for Commerce, Mr Tafazzal Ali, dis-
closed that Pakistan's annual export earnings had dropped from Rs 2i500 million
to Rs 1,500 million out of which nearly 650 million were contributed by cotton
and jute. Out of the estimated earnings of Rs 1,500 million per year nearly
600 million constituted the inescapable requirements of the government depart-
ments; Rs 250 million were spent on invisibles and the balance available for
commercial imports was Rs 650 million, of which nearly 70 to 75% are earmarked
for importing industrial requirements, including raw materials and machinery,
of the private sector.
"Arrangements have recently been made for making use of the United States'
Agricultural Trade Development and Assistance Act 1951+, which permits purchases
of US farm surpluses against local currencies. Under this Act, Pakistan pro-
poses to make large purchases, on a rupee payment basis, of vital oils and fats,
long staple cotton, tobacco and sugar. This will increase th total level of
imports in 1954-55 to about Rs 1130 million against Rs 670 million in the last
year.
1+. "Construction work on Pakistan's first rayon mill is expected to start within the
next few months. The cost of the project is estimated at Rs 1+5 million, which will
be found by Pakistan, with Japan providing the machinery and technical assistance,
while the process and patents to be used will come from a US firm."
r_
TYPE ACT-DATE INFO-TH-DATE Aim
e _P I-
-nr
CIA
U.S. Officials Only