Saturday, June 06, 2009

DTN News: Pakistan Wants US To Write Off $1.35 Billion Loan

DTN News: Pakistan Wants US To Write Off $1.35 Billion Loan
(NSI News Source Info) ISLAMABAD - June 6, 2009: Pakistan formally requested the United States on Friday to write off its debt to help it overcome the economic crisis caused by the war against terrorists, displacement of people from the Malakand region and global recession. PM Gilani, in his meeting with Richard Holbrooke, also asked for a substantial increase in aid and to put on a fast track military supplies for Pakistan’s campaign against terrorism. Prime Minister Yousuf Raza Gilani made the request during a meeting with the US envoy for Pakistan and Afghanistan Richard Holbrooke who is reported to have said that the US would look into the matter. Minister of State for Finance and Economic Affairs Hina Khar told Dawn that Pakistan owed $1.35 billion to the US. The US envoy said measures were being taken to accelerate military supplies to Pakistan. The prime minister urged the US administration to initiate action in the Congress for a substantial increase in aid and to put on a fast track military supplies for Pakistan’s campaign against terrorism. Mr Gilani acknowledged that the US had helped Pakistan in providing relief to the displaced people through an aid package of more than $300 million. He expressed the hope that major European and Muslim countries would follow the US lead and come up with timely assistance. The prime minister said the nation was united on the vital issue of army operation against Taliban and the government had taken all national institutions on board in fighting terror. He said there was national cohesion and a spirit of reconciliation on national issues among all political forces. Ambassador Holbrook praised the overall condition in the camps for displaced people. He praised the tradition of Pukhtunwali and the hospitality of the people of the country in accommodating the displaced people in their homes and catering to their needs despite their own meagre resources.

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