US releases second tranche of coalition support fund worth $352m

Published: February 11, 2014
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Finance Minister Ishaq Dar (R) in a meeting with US ambassador Richard Olson (L) in Islamabad on Tuesday. PHOTO: PID

Finance Minister Ishaq Dar (R) in a meeting with US ambassador Richard Olson (L) in Islamabad on Tuesday. PHOTO: PID

ISLAMABAD: United States has released second tranche of $352 million out of a total of $1.4 billion Coalition Support Funds (CSF) that Pakistan is budgeted to receive during the current fiscal year.

This was revealed by US Ambassador Richard Olson in a meeting with Finance Minister Ishaq Dar on Tuesday.

According to Finance Ministry, the ambassador assured the Financial Minister that the remaining amount will be disbursed as soon as possible,

Pakistan had hoped to receive the second tranche in December last year.

US released the second tranche after Pakistan repaid 27th installment of $147 million to International Monetary Fund (IMF) as per the arranged programme.

The releases were on account of expenses that Pakistan incurred during the period of January-March 2013. For the current fiscal year, Pakistan has budgeted $1.4 billion on account of CSF disbursements. The money that the country spends on defense and logistics while rendering services in global war against terrorism is later on disbursed by the US under the CSF.

Dar on Tuesday again urged Olson to fast track the process of releasing the funds.

The American ambassador assured the Finance Minister that the US wanted to further improve its friendly relations with Pakistan and assured that the US will expedite the process of payment of the remaining amount of the CSF, according to Ministry of Finance hand-out.

The two also discussed the upcoming meeting of the Economic Working Group scheduled to be held in Washington in the second week of April.

Olson informed the Finance Minister that a four member delegation of Congress Defence Committee are visiting Pakistan later during the week and would like to meet the Finance Minister.

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Reader Comments (6)

  • unbelievable
    Feb 12, 2014 - 12:48AM

    Still waiting for any Pakistani to adequately explain what Pakistan has done to deserve these funds? You have never raised a weapon against the Haqqani, don’t make an substantive effort to stop terrorist from freely migrating between Afghan/Pakistan, have done nothing substantive to cut down on IED production, and are a reluctant/unreliable transit source for coalition supplies even though they use Pakistan trucks/drivers which provide employment and road funds. For all practical purposes this appears to be charity disguised as something else. If so – perhaps a simple “thank you” maybe in order?

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  • Ruby
    Feb 12, 2014 - 2:33AM

    Now Srinivasan’s brother got elected as IOA chairman.

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  • pkr
    Feb 12, 2014 - 7:16AM

    @unbelievable:
    Yeah hundreds of thousands of soldiers work for free. They don’t need to be paid, armed or provided for. And then there’s this US friendly government that needs to be propped up. The vast majority of people here are against helping your govt in any way.

    Why don’t you take up this argument with your own politicians instead of repeating it over and over again here?

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  • believable
    Feb 12, 2014 - 9:18AM

    @unbelievable: from the back of a rickshaw “Mehnat kar hasad na kar”!

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  • rauf
    Feb 12, 2014 - 10:15AM

    This is the blood money for people killed by drones. Good enough for ruling class and their favourite bureaucrats visiting abroad and buying themselves gifts/

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  • usman786
    Feb 12, 2014 - 12:04PM

    CSF for work done on western boarders. infact those soldiers be given additional insurance coverage of $ 100,000 and all damages to KPK, Sindh, Punjab be charged to CSF. I am warning that USA will not clear dues for CSF esp last one after withdrawal of its troops.

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