Pak FM says 'country to receive $700 mln CSF payments from US'

Last Updated: Thu, Dec 27, 2012 05:40 hrs

Pakistan's Finance Minister Dr Abdul Hafeez Sheikh has said the country will receive 700 million dollars from the Coalition Support Fund (CSF) of the United States.

According to the Radio Pakistan, Sheikh also said that the country would also pay two installments to the IMF in early January.

The US was expected to release 600 million dollars in financial assistance under the CSF to Pakistan in the latest sign of improving ties between the two otherwise disenchanted allies.

According to some official sources, the breakthrough on CSF was achieved during two days of talks between senior defence officials of the two countries in Rawalpindi, the Express Tribune reports.

Furthermore, Pakistan requested the US to release the amount during the ongoing fiscal year so that it could bridge the budget deficit, the report said.

CSF is a programme designed by the US in 2001 to reimburse countries for the cost of counter-insurgency operations. (ANI)

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