Federal Finance Minister Ishaq Dar. PHOTO: ZAFAR ASLAM/EXPRESS
ISLAMABAD:
State Bank of Pakistan has received an amount of $322 million in lieu of the Coalition Support Fund (CSF) against old dues, a spokesman for the ministry of finance said on Friday.
Finance Minister Ishaq Dar had taken up the issue of CSF installment with the US State and Treasury Departments during his recent Washington visit for IMF-World Bank annual meeting. He had later told the media that the funds would be reimbursed to Pakistan shortly.
The remittance by US government would help in the efforts of the government to increase foreign exchange reserves, said the spokesman. Budget support for Pakistan from the US is likely to be increased to 35-40% of Pakistan’s budget, from the current 20 per cent, sources have said. For the current fiscal year, Pakistan has budgeted $1.2 billion under the CSF.
CSF is reimbursement to Pakistan for expenses already incurred and compensation for facilities made available to the US led coalition forces fighting in Afghanistan.
Published in The Express Tribune, October 19th, 2013.
COMMENTS (16)
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@Hedgefunder: Dear Hedgefunder, You continually criticize Pakistan without any credible backup evidence and ignore the damage that occurs within the US on several levels, particularly in the financial sector and dreadful contracting of the jobs sector, not to mention almost 50 million on food stamps. The point is that the world is going through a very bad period right now. Just look at Greece and Spain to name only two. Instead of incessantly criticizing Pakistan start to look at some of the good things that are happening. Obviously, many of Pakistan's problems, like many others, are associated with having a huge and expensive military budget together with having to cope with factors such as Agenda 21, but what is the alternative? I have some idea what the answer is, but would suggest that you do not even know what the problem is.
@syed baqar ahsan: So please enlighten us as to what do you class these payments as ? You sir, really need to do your home work as to Pakistan's duplicity in not acting against cross border infiltrations on regular basis and yet it was in partnership on WOT, that is breach of agreement. Then there were issues of inflating bills and bills for services not provided, that is called Fraud where I live, people get locked up for that ! Lastly who's problem is it, that Pakistan had idiots running the Nation for over six decades, hence the current economic mess and also lack of all the basic social services, let's not even discuss the Law & Order or Judiciary, or for that matter the basic Electricity, yet its a Nuclear Power ! Where is all this leading too ? Land of Fools is very confused and Illiterate society today, and lost its course way back, so it will be interesting as to what's left of it in next decade !
@ali ahmed: @unbelievable: @Hedgefunder: This is the mind set talking, you don't know,this deliberate delays in payment sent us back to IMF/WB loan trap,this money is not charity,you must be clear in head OR any other illusions in your minds.USA has adopted all options for the success in Afghanistan once failed returned back to Pakistan for help for that reasons quietly releasing our money.Classic example of USA DOUBLE GAMING.------- stop kidding all commenting without knowing the actual situation going on-better stop undermining importance of Pakistan you don't know USA does know.Now might is right failed.
Please don't be so short sighted, as over next 18 months, Pakistan's self importance is going to diminish pretty fast. What will happen after that ? Where will the funds come from ? Ever managed to check as to the Nation's economic woes and financial meltdown that the Nation is likely to face without assistance of Aid and loans from Western Nations ? Its been obvious for while, that Arab brothers are not jumping up to assist and that all weather friend has never given you anything for free ! Lastly, I have never been a fan of US policies, but fact remains that this partnership was flawed from the very start and Americans were naïve not to have realised it earlier.
@Hedgefunder: Dear Hedgefunder, Another emotive outburst in your reply as usual. However, I suggest you advise your American buddies to start using Tajikistan or Turkmenistan for their supply route. That way the price of fuel will go up to 700 dollars per gallon. I have a feeling your advise will be rejected. The Americans virtually pleaded with Pakistan to open the Karachi supply route, which would indicate that Pakistan must be doing something right at the lowest cost. Oh, and by the way, it is my understanding that the Americans are very grateful for the counter-insurgency measures undertaken by the Pakistan Military. If you have any doubts about the proficiency of the Pakistan Military try crossing them if you dare.
@Sexton Blake: Your definition of "Help" is obviously very different to mine as I would classed it as hindrance. When one creates inflated & false invoices for services in my book its called Fraud ! Which infrastructure are talking about ? Can Pakistan actually afford to drop out ? We all saw the charade that was played out and returned to normality few months later, was nothing more than pleasing the local public. Face the facts here, Pakistan has not really done very much in this WOT, except provide supply route, which they were paid handsomely for. The very fact is that Pak Army has been reluctant to stop cross border movements of the terrorist, who they call their assets, these very assets are causing carnage and mayhem on your streets on daily basis and yet Army simply does not have ability to deal with them ! Pakistan is victim of terror, which it created to used against its neighbours, however its started destabilising the Nation.
@Hedgefunder: Dear Hedgfunder, Unbelievable, You have obviously not studied economics at all. Pakistan is assisting the US in all kinds of ways, and those ways cost money. Just the damage to infrastructure would make 322 million dollars appear insignificant, The US know they are getting this deal on the cheap. If Pakistan dropped out and the US had to make alternative arrangements their costs would be much higher. The bottom line is that you do not as a general rule get anything for nothing, and in this case Pakistan is being very generous.
@Blithe: What has rape victims got to do with receiving money for nothing ? Rest assure the Land of Pure is not that Pure either ! At least the Judiciary works in India, while in Pakistan it is always in the sleep mode ! Tell me how many terrorists or criminals have actually been convicted and sentenced ? Well let's not even discuss the Mass Jail breaks, where everyone simply goes into hiding for few hours !
@unbelievable: Why don't you focus on the tape victims in Delhi?
dont worry pakistani ........our Prime Minister going to USA for begging more dollar....so that it can be transfer to his account in UK
@unbelievable: Dear Elbert Indian Einstein, CSF payments are mostly released in installments and that too after US has properly accounted for the expenses. These are not paid on current basis. Increase of 0.01% of brain may do wonders.
What exactly did you do to warrant this "reimbursement"? To my knowledge you haven't had a major military campaign since 09, have refused to attack the Haqqani and spend more time talking about "talking to the Taliban" than fighting the Taliban. Seems to me that CFS has devolved into charity rather than "reimbursement".
From the government to the government against the people..Brains gone!
Thank your lucky stars, that USA decided to pay for services "Not Rendered " ! It was quite obvious as to the conduct, with duplicities, inflating and false claims bills etc..... Now where are you likely to receive such free largesse from in future ?