$1.5 billion aid provided to Pakistan is without condition: NA told

Islamabad: Finance Minister Ishaq Dar has categorically stated that a friendly country has given 1.5 billion dollars to Pakistan as a gift without any condition.

Making a policy statement in the National Assembly Wednesday, he clarified that amount of 1.5 billion dollars announced in the month of February has been received by Pakistan Development Fund.

The first tranche of 750 million dollars was received on 19th of February while the second tranche was transferred on the 7th of this month. This transaction took place from one Central Bank to the other.

He said no road shows or conferences were conducted for this assistance as the friendly country came forward on its own to help Pakistan’s economy. He said the friendly country is amongst 26 countries of Friends of Democratic Forum which was launched in September, 2008.

He said the friends of democratic Pakistan forum provided only 341 million dollars out of six billion dollars they announced at that time.

The Minister called for avoiding negative statements on the aid and assured the House that the assistance would be used for the welfare of people.

He said Karachi-Lahore Motorway Project is the flagship project of the Prime Minister for which 800 billion rupees are required. He said the incumbent government plans to undertake 19 mega projects in the fields of infrastructure and energy.

Expressing satisfaction over the economic performance of past eight months, Ishaq Dar said that tax collection, home remittances and exports have witnessed a growth during this period.

He said the positive economic indicators have also restored the confidence of the international financial institutions. These institutions are now declaring Pakistan as an attractive place for investment.

The Finance Minister announced that the government has decided to float Euro Bond in the international market in the first week of next month keeping in view the confidence expressed by the foreign investors.

Leave a Reply