Bangladesh to raise claim for pre-1971 assets in talks with Pakistan

Bangladesh will reportedly raise the demand for its share of the pre-separation assets, which include aid money, provident funds, and savings instruments, totalling approximately $4.52 billion, as reported by local media.

The report stated that the Bangladeshi authorities decided to raise the matter during the meeting of foreign secretaries of both countries, which took place today (Thusrday).

An official from Foreign Office in Bangladesh claimed that $200 million of the total amount was foreign aid that had been sent to then-East Pakistan after a devastating Bhola cyclone of 1970.

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It was reported that this amount had been deposited in the State Bank of Pakistan’s Dhaka branch but was transferred to the Lahore branch during the Liberation War.

The report also stated that many Bangladeshis who worked in Pakistan's government sector returned to Bangladesh after the country's separation from Pakistan.

However, their provident funds and savings instruments were not refunded, which contributed  to the total amount of $4.52 billion claim.

Bangladesh's foreign ministry compiled all evidences from the Bangladesh Bank  to support its case.

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Based on records from the ministry, Bangladesh was entitled to 56% of certain assets. 

Given its contribution to the foreign exchange reserves, which accounted for around 54%, officials argue that Bangladesh deserves at least 50% in a fair distribution. 

A post-war evaluation conducted by the Planning Commission on December 16, 1971, indicated that West Pakistan had retained Tk90 lakh in provident fund contributions belonging to civil servants from East Pakistan. 

Similarly, Tk1.57 crore that was in the Rupali Bank’s Karachi branch during the conflict was never returned. Bangladesh's efforts to recover the funds by liquidating the shares were also unsuccessful.