ISLAMABAD: Pakistan has asked the United States (US) to provide USD 2billion committed money under the Kerry-Lugar Bill (KLB) aid programme,sources privy to the development said on Thursday.
Sources told that caretaker Finance Minister Dr Shamshad Akhtar onTuesday in a meeting conveyed to US Principal Deputy Assistant Secretary ofState for South and Central Asia Alice G Wells that America should disbursethe $2 billion pending money under KLB since July 2015.
Wells assured that she will convey the message to the Americanadministration, they added.
The finance minister made the request to the US as the caretaker federalgovernment is facing a financial crisis. Akhtar asked the Americans to paythe committed money under the KLB, sources confirmed.
Pakistan foreign exchange reserves have been plunged down to USD 9.7billion as sources told that Pakistan has to pay USD 2 billion in Septemberagainst the loans.
“The country’s financial position is deteriorating with every passing daybut the incumbent minister, rather than lobbying to arrange money forPakistan, is paying all attention to revamping of institutions,” sourcesadded.
They added that the outgoing government could not revamp the FBR in lastfive years so how could she do it in two months.
It is pertinent to mention here that FM Dr Shamshad Akhtar had already saidthat caretaker will not approach to International Monetary Fund (IMF) forany bailout package.
Pakistan had received a total of Rs 100.405 billion under the KLB. Thebreakup of these amount is: Rs 305 million in 2015-16, Rs 5.2 billion in2014-15, Rs 16.2 billion in 2013-14, Rs 6.5 for 2012-13, Rs 20.3 billion in2011-12 and Rs 51.9 billion in 2010-11. There was no disbursement under theKLB in the revised budget documents for 2009-10.
On the other hand, the US claimed that over $4.681 billion was paid againstthe total obligation of $7.5 billion under the Kerry-Lugar-Berman bill fromthe US till 2016.
Officials said that every year, the government allocated an amount of $750million to $1.2 billion in the budget since 2009, and has received theamount till 2015. However, after the ties between the two countriesdeteriorated, the US government stopped disbursing any money to Pakistan,they added.
The government treats this money as tax receipt as American had committedto pay money against the war and terror.