The Biden administration has requested $101 million in aid for Pakistan to help the South Asian country strengthen democracy, fight terrorism, and stabilise the economy, US Assistant Secretary for South and Central Asia, Donald Lu announced on Tuesday.
Lu said this while speaking before a subcommittee of the US House Committee on Foreign Affairs.
He said Pakistan was facing “ongoing challenges and opportunities” and the requested aid would help the country deal with them.
US Congressional hearing: Donald Lu says Imran’s cypher allegation ‘complete falsehood’
“The President’s Budget requests a straight-lining of our $101 million Pakistan budget.
“That money would be used to strengthen democracy and civil society, to fight terrorism and violent extremism, and to support economic reforms and debt management to help stabilise Pakistan’s economy,” Lu said.
The development comes as Pakistan faces tough economic challenges amid lack of foreign investments, low foreign exchange reserves, and high inflation.
Earlier this month, the International Monetary Fund (IMF) and Pakistan authorities reached a staff-level agreement, 37-month loan programme aimed at cementing stability and inclusive growth.
The IMF said the new Extended Fund Facility (EFF) is subject to approval by its Executive Board and obtain “timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners”.
This would include rollovers or disbursements on loans from Pakistan’s long-time allies Saudi Arabia, the United Arab Emirates, and China.
Last month, the United States House of Representatives voted in favour of an impartial investigation into the general elections held this year in February in Pakistan.
A total of 368 US lawmakers voted in favour of the resolution which called for “full and independent investigation of claims of interference or irregularities in Pakistan’s February 2024 election.”
In response, Pakistan’s National Assembly passed a resolution condemning the US House of Representatives move, and termed it “contrary to facts” and “interference” in Pakistan’s internal affairs.
Comments
Comments are closed.