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Wednesday, 10 September 1958


Mr McMAHON - No. Processed milk products have not been sold to either Pakistan or India in recent years under government guarantee or with the provision of government finance. Some time ago, I received representations from the processed milk industry asking whether I would be prepared to guarantee credit sales of processed milk to India and Pakistan. It was pointed out to the representatives of the industry that credit sales were a function of the banking system, including both the Commonwealth Trading Bank and the private trading banks, and that the industry should apply to those banks for the necessary credit. I may mention to the honorable gentleman that, since that date, the export payments insurance scheme has been introduced and, if it so happened that exporters, or processors who became exporters, suffered any loss over which they had no control, they could, by means of the insurance available under this scheme, cover their losses. Thus they can protect their sales.

The short answer to the question is: No, we have not, under government guarantee, sold processed milk products to either Pakistan or India.







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