$1.5b does not have to be repaid: Ishaq Dar
Finance minister says Pakistan will never send its troops to any country against the national interests.
Finance Minister Ishaq Dar. PHOTO: AFP
ISLAMABAD:
Finance Minister Senator Ishaq Dar on Wednesday said that the $1.5 billion grant – which helped Islamabad shore up its foreign exchange reserves recently – was given to Pakistan by “a friendly country” as a gift which did not have to be repaid.
The monetary assistance contributed to a sharp recovery of the Pakistani rupee, which rose to a nine-month high of 97.40 from 105.40 against the dollar between March 4 and 12, its strongest rally in 30 years.
In a policy statement on the floor of the National Assembly, Dar said the amount was given to Pakistan with no strings attached.
The finance minister added that Pakistan will never send its troops to any country against the national interests. He said the amount was transferred in Pakistan Development Fund and would be utilised for the development projects.
The finance secretary also briefed the house, stating that there should not be any controversial debate on the issue as it might hurt the sentiments of the friendly country.
Budget
Dar said government employees should not have high expectations from the upcoming fiscal budget 2014-15, Express News reported.
The finance minister said there will be no increase in the pension and salary of state employees.
He also informed the lawmakers that they will be provided with developments funds in the new budget.
The budget for year 2013-14 saw an increase of 10 percent in the pension of retired government employees. The minimum monthly pension amount was also increased from Rs3000 to Rs5000.
However, for the first time in years, the salaries of government employees saw no change.
Finance Minister Senator Ishaq Dar on Wednesday said that the $1.5 billion grant – which helped Islamabad shore up its foreign exchange reserves recently – was given to Pakistan by “a friendly country” as a gift which did not have to be repaid.
The monetary assistance contributed to a sharp recovery of the Pakistani rupee, which rose to a nine-month high of 97.40 from 105.40 against the dollar between March 4 and 12, its strongest rally in 30 years.
In a policy statement on the floor of the National Assembly, Dar said the amount was given to Pakistan with no strings attached.
The finance minister added that Pakistan will never send its troops to any country against the national interests. He said the amount was transferred in Pakistan Development Fund and would be utilised for the development projects.
The finance secretary also briefed the house, stating that there should not be any controversial debate on the issue as it might hurt the sentiments of the friendly country.
Budget
Dar said government employees should not have high expectations from the upcoming fiscal budget 2014-15, Express News reported.
The finance minister said there will be no increase in the pension and salary of state employees.
He also informed the lawmakers that they will be provided with developments funds in the new budget.
The budget for year 2013-14 saw an increase of 10 percent in the pension of retired government employees. The minimum monthly pension amount was also increased from Rs3000 to Rs5000.
However, for the first time in years, the salaries of government employees saw no change.