Pakistan demands release of $1.6billion from US

Pakistan on Thursday once again demanded from the US to immediately release $1.6 billion under the Coalition Support Fund.

According to sources in the Ministry of Finance, US has to pay Pakistan money under the Coalition Support Fund and the payment of money by the US is quite sluggish but Pakistan cannot wait very long because the country’s economy is in a sensitive state.

Pakistan needs the funds to cater to its deteriorating economy and to fulfil the requirements of its defence and armed forces.

Sources say expenditures worth $100 million are being carried out every month in the war on terror and the funds provided by the US are quite slim as compared to the expenditures.

The last instalment provided by the US was released in the beginning of the prevailing year, after which Pakistan has not received any thing.

President Asif Ali Zardari during his visit to United States later this month will raise the issue with his counterpart Barack Obama and urge him to immediately provide finances under the Coalition Support Fund.—Online