News
Friday, August 03, 2012
Pakistan gets $1.1 bn CSF money from USKARACHI: Pakistan said on Thursday it had received $1.1 billion from the United States for its fight against terrorists, the first installment of its kind since December 2010. Washington released the funds after Pakistan and the US on Tuesday signed an agreement governing NATO convoys travelling through Pakistan into Afghanistan until the end of 2015. The fund, which is designed to reimburse Pakistan for the cost of counter-insurgency operations, paid $8.8 billion to Pakistan between 2002 and 2011. But Islamabad stopped claiming the money as relations collapsed in the wake of the May 2011 raid that killed Osama bin Laden. The crisis fell to a new low when US air strikes killed 24 Pakistani soldiers and Islamabad imposed a seven-month blockade on NATO traffic in protest. State Bank of Pakistan (SBP) chief spokesman Syed Wasimuddin said the amount has been received this morning. This would be reflected in the foreign exchange reserves for the next week, he added. agencies
Courtesy www.dailytimes.com.pk