MONDAY DECEMBER 10: US committed to releasing $ 600 million: Prime Minister briefed on Coalition Support Fund (CSF)

ISLAMABAD: Finance Minister Dr Abdul Hafeez Shaikh called on Prime Minister Raja Pervez Ashraf on Sunday at the Prime Minister's House and briefed him on his recent visit to the United States. According to a press handout, the Finance Minister informed the Prime Minister that the objective of the visit was to have a dialogue with the US on the full range of economic relations, including trade enhancement, investment promotion, and assistance in energy sector and launching of investment funds.
He said that during the course of his visit, he met US representatives in the State Department, Department of Treasury, USAID, US Trade Representative, US Special Representative for Afghanistan and Pakistan, the Head of OPIC and the US Chamber of Commerce and the Carnegie Institute.
The Finance Minister told the Prime Minister that the US government reaffirmed its commitment to release $ 600 million for the Coalition Support Fund, to rehabilitate power distribution system and electricity plants at Guddu, Jamshoro and Muzaffargarh and committed to support in the completion of Diamer-Bhasha dam for which $200 million had been approved to start the work. It was also decided to launch a fund for Small and Medium Enterprises in January with an initial capital of $80 million which would be enhanced every year, he said.
The Finance Minister also briefed the Prime Minister on his meetings with the managements of the World Bank and the International Monetary Fund. The World Bank program in Pakistan showed a high level of collaboration approaching $1.8 billion in the year, covering projects in energy, infrastructure and social sectors. The Prime Minister appreciated the efforts of the team led by Dr Abdul Hafeez Shaikh and its success to win international support for Pakistan's economic program which was a testimony of confidence on the prudent economic policies of the government by the international community.-PR