Pakistan receives $688m CSF windfall ahead of key repayments
Pakistan is due to pay two installments to the IMF in early January.
Minister of State for Finance and Senator Saleem H Mandviwala confirmed receipt of the payments.
ISLAMABAD:
Pakistan on Friday received US $ 688 million under Coalition Support Fund (CSF) as a reimbursement for the expenses of supporting over 150,000 coalition forces deployed on Pakistan-Afghan border.
This was confirmed by Minister of State for Finance and Senator Saleem H Mandviwala through a statement “this is to confirm that The United States has released US $688 million on Friday under Coalition Support Fund (CSF).”
The development and the figure were also confirmed by the spokespersons from the State Bank and foreign office to The Express Tribune.
In August 2012, Pakistan had received $1.12 billion from the US for funds pending upto 2010. 60 per cent of the fund is apportioned to the Pakistan Army while the remaining amount is used to meet the fiscal deficit of economy.
According to official sources Pakistan was carrying an immense pressure for balance of payments schedule. He added that the discharge of $ 688 million in terms of CSF would help relieve the balance of payment position.
The official added that Pakistan has welcomed the Pentagon’s notification to US congress for reimbursing around $ 700 million under Coalition Support Fund (CSF) to Pakistan.
On Wednesday, Finance Minister Hafeez Sheikh had revealed that the country will be paying back at least two due installments of the International Monetary Fund in early January. At least part of these payments are believed to be financed by the incoming CSF funds.
Pakistan on Friday received US $ 688 million under Coalition Support Fund (CSF) as a reimbursement for the expenses of supporting over 150,000 coalition forces deployed on Pakistan-Afghan border.
This was confirmed by Minister of State for Finance and Senator Saleem H Mandviwala through a statement “this is to confirm that The United States has released US $688 million on Friday under Coalition Support Fund (CSF).”
The development and the figure were also confirmed by the spokespersons from the State Bank and foreign office to The Express Tribune.
In August 2012, Pakistan had received $1.12 billion from the US for funds pending upto 2010. 60 per cent of the fund is apportioned to the Pakistan Army while the remaining amount is used to meet the fiscal deficit of economy.
According to official sources Pakistan was carrying an immense pressure for balance of payments schedule. He added that the discharge of $ 688 million in terms of CSF would help relieve the balance of payment position.
The official added that Pakistan has welcomed the Pentagon’s notification to US congress for reimbursing around $ 700 million under Coalition Support Fund (CSF) to Pakistan.
On Wednesday, Finance Minister Hafeez Sheikh had revealed that the country will be paying back at least two due installments of the International Monetary Fund in early January. At least part of these payments are believed to be financed by the incoming CSF funds.