Donors urge Pak to implement "painful" reforms for additional resource mobilization

Posted By: Nairita Das
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Islamabad, Nov 16 (ANI): Donors and development partners of Pakistan have made it clear that they would provide help to Pakistan if there was a consensus between the federal and provincial governments.

The Pakistan Development Forum concluded on Monday with the hope that "painful" reforms would be implemented for additional resource mobilisation needed for the economic development of the country, the Daily Times reported.

Speaking on the second day of the forum, US Special Representative for Afghanistan and Pakistan Richard Holbrooke said that the flood-ravaged country had to move away from the donors' cycle by rapidly implementing the reforms, and bringing the rich into the tax net.

Announcing that a 500-million-dollar assistance would be provided to Pakistan on a fast-track basis to facilitate the reconstruction phase, Holbrooke stated that there should be accountability in utilisation of the funds and the US taxpayers' money should reach those who actually need it. Pakistan's elite must share the burden of resources required for reconstruction, he added.

Japan's Parliamentary Vice Minister for Foreign Affairs, Makiko Kikuta, also announced that his country would provide an additional assistance worth 500 million dollars.

It would provide the Pakistan government approximately 233 million dollars worth of additional soft loans for the rehabilitation of roads and bridges in the rural areas of Khyber Pakhtunkhwa as well as for importing goods such as fertilisers and seeds required for agriculture reconstruction following the flood, the paper said.

The official added, "We will provide approximately $267 million worth of assistance for the works of international organisations.

Altogether, Japan's flood-related assistance will amount to around $568 million". (ANI)

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