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$700 million US funding likely

February 05, 2004

WASHINGTON, Feb 4: Pakistan will get a record fund allocation of $700 million from the United States for the financial year 2004-5.

The amount is part of the five-year (05 to 09) aid package that totals $3 billion - $1.5 billion in defence and $1.5 billion in economic support assistance.

The US administration has suggested "a record fund allocation of over $700 million for Pakistan for the US budgetary year 2005," deputy chief of the mission, Mohammad Sadiq told APP.

It is higher than the precious allocation for the current year, which amounted to $395 million, of which half was utilized in debt repayments.-APP