Bangladesh has suffered an estimated loss of some two million US dollars (120 million Taka) due to the last moment postponement of the 13th summit of the South Asian Association for Regional Cooperation (SAARC).

The daily Financial Express Sunday quoted a source from the foreign ministry as saying that the government allocated a fund of some 2.5 million dollars (150 million Taka) to the ministry in connection with the holding of the SAARC summit.

Over 75 percent of the fund has already been spent, said the official source, adding besides this government fund, another substantial amount of money has also been spent by a number of private organizations to give the main thoroughfares of Dhaka an attractive look.

The summit was postponed twice, firstly due to the Dec. 26 tsunami devastation and secondly because of India's refusal to participate on the plea of "internal developments in neighboring Nepal and security situation in Bangladesh."

Bangladesh government had allocated fund for meeting expenses relating to the hotel accommodation of leaders and officials of six other SAARC member nations, rent for the summit venue, security arrangements and other infrastructures necessary for holding the summit successfully.

The exact amount of loss could not be known until now as different ministries and agencies involved in the arrangements for the SAARC summit are yet to make final estimate, added the foreign ministry source.

Despite postponement of the summit, the government and the foreign ministry are working hard so that the relations between the SAARC nations are not hampered, said the source.

The summit may be re-convened soon following consultations with all the other SAARC members, the source added.

Source: Xinhua