ADJOURNMENT MOTION

The Chief Minister: Mr Speaker, Sir, I move,

That this Assembly do now adjourn.

Mr Chew Swee Kee: I second it.

Question put, and agreed to.

Resolved,

That this Assembly do now adjourn.

Adjourned accordingly at Seven minutes past Three o'clock p.m. to 16th October, 1957.

Thursday, 12th September, 1957

Payments to India, China, Ceylon and Pakistan on

account of trade and other transactions, 1947 to 1956

Inche Ahmad Bin Ibrahim asked the Financial Secretary-

(a) what is the mechanism for the settlement of financial claims of India, China, Ceylon and Pakistan against the Malayan currency for payments due to them respectively on account of trade and other transactions; and

(b) what are the amounts of net annual payments to these countries respectively for each of the years 1947 to 1956.

Mr T. M. Hart: (a) Payments due to China on account of trade and other transactions are made through normal banking channels, and, since China is not a scheduled territory, require the approval of the Controller of Foreign Exchange. Payments to India, Pakistan and Ceylon, which are scheduled territories, are made through normal banking channels, by other accepted means of settlement of trading debts, for example, by the shipment of goods, through open accounts and compensation agreements, or through the Post Office.

(b) No statistics are maintained from which the amounts of net annual payments to these countries could be obtained and it is regretted that the information requested is not available.