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PM orders for white paper on KAFCO agreement by previous governments

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October 26, 2000 

Dhaka-- (UNB) – In a major decision Prime Minister Sheikh Hasina yesterday (Wednesday) ordered publication of a white paper on KAFCO agreement signed during the previous governments forsaking the national interest.

Hasina gave three specific instructions about the controversial deal on the fertilizer factory while she was presiding over a meeting at her office on financial restructuring of KAFO.

Finance Minister SAMS Kibria, Industries Minister Tofail Ahmed, Education Minister ASHK Sadeq, State Minister for Energy Prof Rafiqul Islam and secretaries of ministries concerned attended the meeting.

It discussed in depth various aspects of KAFCO accord, problems as well as recommendations made by IFC, an organ of the World Bank, regarding financial restructuring of the fertilizer plant located in Chittagong.

The Prime Minister directed that the provisions of the KAFCO agreement that were unequal and against the national interest must be reorganized to safeguard the country’s interest.

As per KAFCO agreement signed during the previous governments, natural gas is to be supplied to the fertilizer factory at the minimum rate fixed at 75 cents per 1000 CFT.

The Prime Minister suggested that efforts should be made to raise the minimum price of gas.