On account of Eid, there was no issue of Dawn on April 24. The following is a news item from the previous day’s edition.

KARACHI: The International Bank for Reconstruction and Development has approved a loan of 17 million dollars for the Karachi Port Trust to finance six development schemes for the modernisation of the port.

This was stated yesterday by Mr I.A. Abbasi, Chairman of the KPT, on his return from the United States where he had gone to finalise the agreement. The projects to be undertaken by the KPT with the proposed loan are: reconstruction of berths 1 to 4 at the East Wharf; construction of three new berths at the West Wharf; widening and deepening of the navigable channel; construction of an oil pier; rehabilitation of Manora breakwater; and Master Plan of Karachi Port.

Mr Abbasi said that the total cost of these projects was estimated at Rs 17.26 crores out of which the foreign exchange cost was expected to be 17 million dollars. The KPT, he said, had previously taken a loan of 14.8 million dollars from the IBRD for the reconstruction of berths 5 to 17 at Keamari. This project has since been completed.