Pakistan gets $256 million from US

Published August 1, 2003

KARACHI, July 31: Pakistan has received another $256 million from the United States for the logistic support it has been providing to the US against its “war against terrorism” in this region.

Chief spokesman for SBP Syed Wasimuddin said here on Thursday that the amount had been credited into the SBP account.

He said that with the inflow of $256 million Pakistan’s foreign exchange reserves have gone up to $11.09 billion. Of this the SBP holds $9.83 billion and all other banks $1.26 billion.

The $256 million tranche is part of the funding Pakistan has been receiving from the US since it decided to support the US- led war on Afghanistan. It has nothing to do with the latest $3 billion package Pakistan has been able to secure recently from the US during Gen Musharraf’s visit to Camp David.

It could not be learnt immediately how much money Pakistan has so far received from the US for providing it logistic support in its “war against terrorism.” Nor it is clear what expenses are specifically being financed through the US money.

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