.US asked to cough up $1 bn immediately
ISLAMABAD: The government has asked the Obama administration to immediately reimburse at least $1 billion out of $1.350 billion spent during the last nine months for services Pakistan has provided in the war on terror.
Adviser on Finance Shaukat Tareen, while interacting with the media men after a workshop on medium-term budget framework here on Thursday dwelt upon the issue of the stuck-up amount by the authorities concerned in the US with regard to the ongoing war against terrorism.
Tareen informed that in the wake of accounting and procedural issues, the release of the funds from the Coalition Support Fund has been stalled and now we are pushing the US to clear nine months of bills amounting to $1.350 billion as Pakistan is no more in a position to bear the war expenses for a long time.
To a question, he said Islamabad has now asked releasing of $1 billion on which US has agreed so far. He explained: “Monthly military bill stands at $150 million and US have agreed to release $100 million as the remaining $50 million stuck up because of accounting and procedural issues will later be sorted out.”
It is pertinent to mention that as per the media reports that Pakistan is also providing services of drone to attack on militants. It means the reimbursement bill for services has also increased.
However, Tareen said he does not know the facilities are being provided for drone attacks. To a question, he said the US authorities had released $101 million out of total forwarded bill of $156 million till April 2008. “Pakistan has not received any amount from the last nine months after May 2008.”
“Pakistan’s economy faced a colossal loss of over $8 billion in the ongoing fiscal as the whole infrastructure in war-hit areas has entirely destroyed. Tourism industry has come to standstill and country gets deprived of the massive investment just because of the very factor.”
“The war against terrorism is ours but it is also war of western friends,” he said. Pakistan’s elected government, he said, informed its western friends, including Friends of Pakistan, to compensate Islamabad by extending us market access, debt swaps, oil facilities on deferred payments and development aids.
About ongoing talks with the IMF in Dubai, Tareen said Pakistan would not seek any waiver on agreed conditions for releasing the second tranche of $775 million out of $7.6 billion loan package under the Standby Arrangement (SBA) programme.
He said the annual tax collection target of Rs1,360 billion would be revised downward after holding negotiation with the IMF. Pakistan would place a request with the fund, seeking increase in its loan from $7.6 billion to $12.1 billion by April 2009.
The News
Adviser on Finance Shaukat Tareen, while interacting with the media men after a workshop on medium-term budget framework here on Thursday dwelt upon the issue of the stuck-up amount by the authorities concerned in the US with regard to the ongoing war against terrorism.
Tareen informed that in the wake of accounting and procedural issues, the release of the funds from the Coalition Support Fund has been stalled and now we are pushing the US to clear nine months of bills amounting to $1.350 billion as Pakistan is no more in a position to bear the war expenses for a long time.
To a question, he said Islamabad has now asked releasing of $1 billion on which US has agreed so far. He explained: “Monthly military bill stands at $150 million and US have agreed to release $100 million as the remaining $50 million stuck up because of accounting and procedural issues will later be sorted out.”
It is pertinent to mention that as per the media reports that Pakistan is also providing services of drone to attack on militants. It means the reimbursement bill for services has also increased.
However, Tareen said he does not know the facilities are being provided for drone attacks. To a question, he said the US authorities had released $101 million out of total forwarded bill of $156 million till April 2008. “Pakistan has not received any amount from the last nine months after May 2008.”
“Pakistan’s economy faced a colossal loss of over $8 billion in the ongoing fiscal as the whole infrastructure in war-hit areas has entirely destroyed. Tourism industry has come to standstill and country gets deprived of the massive investment just because of the very factor.”
“The war against terrorism is ours but it is also war of western friends,” he said. Pakistan’s elected government, he said, informed its western friends, including Friends of Pakistan, to compensate Islamabad by extending us market access, debt swaps, oil facilities on deferred payments and development aids.
About ongoing talks with the IMF in Dubai, Tareen said Pakistan would not seek any waiver on agreed conditions for releasing the second tranche of $775 million out of $7.6 billion loan package under the Standby Arrangement (SBA) programme.
He said the annual tax collection target of Rs1,360 billion would be revised downward after holding negotiation with the IMF. Pakistan would place a request with the fund, seeking increase in its loan from $7.6 billion to $12.1 billion by April 2009.
The News
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