ISLAMABAD - Pakistan is expecting to receive $352 million from United States under the head of Coalition Support Fund (CSF) by the third week of current month of January, which would help in building the depleting foreign exchange reserves to some extent.
“Pakistan will receive $352 million from United States under CSF by third week of January”, said Secretary Finance Dr Waqar Masood Khan while talking to The Nation on late Monday night. Pakistan would most likely to receive $352 million by January 21 or 22. Pakistan has already $322 million from US under CSF back in October 2013.
Finance Minister Senator Ishaq Dar had told the Cabinet and media a few days back that the government had billed $798 million for recovery under the CSF from October 2012 to March 2013. Sources informed that Pakistan is expecting to receive $352 million from the US under CSF during the current month (January) and claims for $446 million had been sent to the US Embassy. In addition to the outstanding claims, he said, another about $800 million had been spent from the budget in the current year and its claims would be filed soon.
Sources were of the view that the government would ask the US authorities to expedite the process of reimbursing the due amount of CSF, which is Pakistan’s right. They added that government wants to build its reserves.
Sources informed that Pakistan seeks for early reimbursement of outstanding CSF to build its depleting foreign exchange reserves. The reimbursement of $352 million would help in building the country’s foreign exchange reserves. The country’s reserves are under severe pressure due to repayment to IMF (International Monetary Fund) and central bank held reserves stood at only $3.66 billion, enough to cover one-month import.