Pak to receive 174 million dollars as US restores budgetary support

Islamabad, Nov.12 (ANI): The United States has restored Pakistan's budgetary support, nearly three years after it was suspended. Islamabad is set to receive about 174 million dollars as a result

Informing the media about Washington's decision to discontinue the ban on the budgetary support, Economic Affairs Minister Hina Rabbani Khar said the financial assistance being provided to Islamabad was separate from the monetary aid being provided under the Kerry Lugar Bill.

"Release of 174 million dollars of budgetary support from United States is already finalised and modalities for its utilisation are in the process of finalization at this point of time," The Daily Times quoted Khar, as saying.

Khar also said the US would soon be releasing the Coalition Support Fund arrears, which would see Pakistan receiving an additional 530 million dollars by the end of this month.

Referring to Japan's pledge to provide two billion dollars in aid to Pakistan over the next five years, Khar said: " Japan has shown its willingness to utilise its pledged money through World Bank's assisted programme on poverty reduction initiatives and we would encourage other donors to route their pledges through International Financial Institutions (IFIs) channel as this would help cut intermediation cost."

According to a private television channel, the aid package is meant for rehabilitation work in areas affected by the 'war on terror'.

Tokyo would also be providing five billion dollars to Afghanistan as relief and for rehabilitation work.

A Japanese embassy statement issued here said the aid, which would start arriving next year, is funded by the United Nations Development Fund and many other international relief organisations. (ANI)