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Pak books 1.6 billion dollars in receipts from U.S. on cost of war

Pak books 1.6 billion dollars in receipts from U.S. on cost of war

Islamabad : Pakistan has on account of reimbursements for the cost of war on terrorism booked 1.6 billion dollars or Rs. 170 billion in receipts from the United States and hopes that a new permanent arrangement would be finalised soon.

“Pakistan and the US are negotiating a new arrangement of Coalition Support Fund (CSF), but the details cannot be divulged at this stage,” the Express Tribune quoted Finance Minister Ishaq Dar as saying after addressing a post-budget news conference yesterday.

Pakistan has in its proposed budget for the new fiscal year 2016-17 estimated Rs. 959.5 billion in non-tax revenues, including Rs. 170 billion from the Coalition Support Fund.

Meanwhile, an official of the Finance Ministry said the US administration has already moved a bill seeking Congress’ approval for 900 million dollars while another amount of 550 million dollars is already in the pipeline.

The Finance Minister claimed Islamabad had poorly negotiated with Washington after 9/11.

“Up to $118.3 billion in losses that Pakistan has so far sustained due to the war on terrorism in the last 15 years is simply staggering,” he said.

Dar said that Operation Zarb-e-Azb, a joint military offensive being conducted by the Pakistan Armed Forces against various militant groups, was at its final stage and has so far helped in bringing marked improvement in security situation. (ANI)