HL Deb 07 December 1972 vol 337 cc459-60

7.50 p.m.

LORD MOWBRAY AND STOURTON rose to move, That the Mines and Quarries (Valuation) (Amendment) Order 1972, be approved. The noble Lord said: My Lords, this Order is of a technical nature. It corrects an omission in the Mines and Quarries (Valuation) Order

£ thousands
1968 1969 1970
Gross disbursements of financial aid
Bilateral Grants (including technical assistance) 939 835 1,286
Loans 8,601 10,313 9,332
Total 9,540 11,148 10,618
Outstanding debt on official loans at 30 June 1972
(a) Disbursed and still outstanding 81,655
(b) Arrears of principal and interest 4,883

In accordance with arrangements agreed by the creditor members of the Pakistan Consortium, Britain and Pakistan concluded an agreement on November 30, 1972, whereby payments due on official debt between May 1, 1971, and June 30, 1973 (which include the arrears referred to above) have been rescheduled for re- 1971 for the purposes of the coming revaluation for rates. Like the Members of another place, I do not think your Lordships will desire a long explanation. Accordingly, I commend the Order to your Lordships. I beg to move.

Moved, That the Mines and Quarries (Valuation) (Amendment) Order 1972, be approved.—(Lord Mowbray and Stourton.)

LORD SHACKLETON

My Lords, I fear I cannot do adequate justice to the eloquence and clarity of the noble Lord. Anything he proposes so winningly to us we accept without any doubt.

On Question, Motion agreed to.