News
Wednesday, July 28, 2010
‘FoDP contributes $900 million out of pledged $5 billion’
ISLAMABAD: The Public Accounts Committee of the National Assembly was informed on Tuesday that Pakistan has received over $900 million from different countries as pledged during the Friends of Democratic Pakistan (FoDP) conference held in Tokyo.
A special committee of the PAC chaired by Zahid Hamid reviewed the audit reports of Economic Affairs Division (EAD), Ministry of Foreign Affairs and Ministry of Information Technology and Telecommunication.
Giving details of aid under the Kerry-Lugar Act, Secretary Economic Affairs Division Sibtain Fazal Halim said it is a five-year plan during which the US will contribute $7.5 billion to Pakistan in five installments of $1.5 billion per year. He added that Pakistan has received $185 million as of today and $700 million by September 30.
The EAD secretary informed the committee that the donations are made in different sectors for the welfare of people. The committee has asked the secretary to clear the audit accounts which have been pending since 1990. The meeting also reviewed the audit reports of the Foreign Affairs Ministry and issued instructions to maintain its accounts. app
Courtesy www.dailytimes.com.pk