Pakistan to receive $700 million from US: Hafeez

Published: December 26, 2012

Finance minister reports that the money recieved from Coalition Support Fund will be repaid to IMF in two installments. PHOTO: FILE

Finance Minister Dr Abdul Hafeez Sheikh said Pakistan will receive $700 million from the Coalition Support Fund (CSF) of the United States, reported Radio Pakistan.

Sheikh added that Pakistan will also be paying two installments to the IMF in early January.

The US was expected to release $600 million in financial assistance under the CSF to Pakistan in the latest sign of improving ties between the two otherwise disenchanted allies.

The breakthrough on CSF was achieved during two days of talks between senior defence officials of the two countries in Rawalpindi, official sources said.

Defence Secretary Lt Gen (retd) Asif Yasin Malik hinted at progress on the CSF issue, saying significant headway had been made to ensure the reimbursement of held up payments under CSF, a programme designed by the US in 2001 to reimburse countries for the cost of counter-insurgency operations.

Furthermore, Pakistan requested the US to release the amount during the ongoing fiscal year so that it could bridge the budget deficit.

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Reader Comments (20)

  • how to pay university
    Dec 26, 2012 - 9:06PM

    You shd ask NATO to pay in advance otherwise we will not get last installment. Also tell them to waive off all debt else start selling heroine as offered by a smuggler to Gen Zia.

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  • Lahori
    Dec 26, 2012 - 9:19PM

    Mr.Hafeez will surely leave the country once the parliament is dissolved. You bet!!!

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  • A Khan
    Dec 27, 2012 - 3:12AM

    I wish for the day when receiving of these “loans” was not a source of national pride and certainly not worthy of headline news. I can but dream.

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  • Maria
    Dec 27, 2012 - 4:41AM

    @A Khan: I wish for the day that the nation understands what is fair for all the work and suffering it has done for other nations. Pakistan deserves trillions for all the work they have done but the leaders are happy selling themselves and the country so cheaply. The least they should do is ask for all the debts to be written off like the European countries like Greece who are going bankrupt. Think about how Pakistan has suffered for first defeating the Soviets in Afghanistan and ultimately hastening the collapse of the Soviet Union thereby ending the Cold War.

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  • Polpot
    Dec 27, 2012 - 7:46AM

    “Finance Minister Dr Abdul Hafeez Sheikh said Pakistan will receive $700 million from the Coalition Support Fund (CSF) of the United States, reported Radio Pakistan.
    Sheikh added that Pakistan will also be paying two installments to the IMF in early January.”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Kudos to the Editors.
    While the magnitude of the incoming funds is boldly mentioned the outgoing is NOT !

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  • Pakistani
    Dec 27, 2012 - 8:55AM

    @Maria:
    I wish people like you would stop being delusional about Pakistan’s suffering for the Afghanistan war. We got ourselves in it because of our “strategic interests”, we were not forced into it. And if we take a loan, wouldn’t it be beghairti to not pay it back?

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  • Pakistani
    Dec 27, 2012 - 9:44AM

    begging became a fashion now a days in pak!Recommend

  • cut
    Dec 27, 2012 - 9:47AM

    Maybe it is a good news,but such headlines are bad P.R.for any country.

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  • Dec 27, 2012 - 11:04AM

    @Maria:

    Do you know what the word mercenary means?

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  • Ali
    Dec 27, 2012 - 12:04PM

    Many readers really do not understand what CSF really means. Eventhough i agree that loans are not source of pride and not a sign of improving economy but the CSF funds caters those of Pakistani expenditure which have been incurred in war on terror.Its no loan but just Pakistani money spent there which Pakistan is suppose to get back.

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  • Student
    Dec 27, 2012 - 1:05PM

    Begging begging begging. Dont we do any project with our own money from outside?
    For iran gas pipe line we need money for etc we need money from outside

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  • Hajra
    Dec 27, 2012 - 2:23PM

    Why do we need to borrow money every now and then from IMF? Alhamdulillah, Pakistanis have enough potential and talent to generate huge amount than this! Please, don’t borrow such huge amount, otherwise our upcoming generation will suffer drastically. Because, this amount is going to be in one’s pocket rather than making good use of it. That’s for sure!!!

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  • Gratgy
    Dec 27, 2012 - 4:42PM

    @Maria
    Pakistan deserves trillions for all the work

    Pakistan deserves the Moon too. The US should immediately bring the Moon to Pakistan

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  • Nasir
    Dec 27, 2012 - 6:47PM

    @how to pay university: yes gen zia the mullah of Pakistan who interpreted Islam as selling heroine and arming the country to the teeth to allow us all to export terror both at home and abroad . His grave site should be demolished and his family stripped of their assets

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  • Muhammad Sumair
    Dec 27, 2012 - 7:32PM

    With all due respect Sir,

    I do not care at all about the payment because as a Pakistani I am not gonna receive it.

    Its your personal transaction and therefore please keep it private as I do not want to know the exact amount of corruption you are about to do or you have done upto know.

    Your sincere,
    Pakistani

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  • Bangash
    Dec 27, 2012 - 8:28PM

    @Ali
    Why should the US reimburse Pakistan for expenditures in the war on terror ? It is the basic responsibility of the Pakistani state to tackle terrorists, criminals and other anti-social elements.

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  • Syed
    Dec 28, 2012 - 2:31AM

    Shame on you for taking loans means your govt is fail to achieved export targets, when you took loans then you increased the prices of petrol, cng gas, electricity n food items to PAY the installment of this loan, and a common man suffers….SHAMEFUL for GOVT:

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  • Cynical
    Dec 28, 2012 - 11:26PM

    @Pakistani
    No need to go for a guilt trip. Its a purely business transaction, not begging.
    ‘Donation’ is against ‘Dronation’. Its that simple.

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  • Clear Black Bag
    Dec 29, 2012 - 12:23PM

    How much more this has been shameful that the begging bowl in the hands of first nuclear power!!!!!

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  • Clear Black Bag
    Dec 29, 2012 - 12:24PM

    How much more this has been shameful that the begging bowl in the hands of first Islamic nuclear power of the Islamic world!!!!!Recommend

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