AIRLINK 197.15 Decreased By ▼ -0.82 (-0.41%)
BOP 10.02 Decreased By ▼ -0.02 (-0.2%)
CNERGY 7.25 Decreased By ▼ -0.04 (-0.55%)
FCCL 36.50 Increased By ▲ 0.50 (1.39%)
FFL 16.82 Decreased By ▼ -0.09 (-0.53%)
FLYNG 25.51 Increased By ▲ 0.47 (1.88%)
HUBC 135.60 Increased By ▲ 1.57 (1.17%)
HUMNL 14.00 Decreased By ▼ -0.14 (-0.99%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 6.93 Decreased By ▼ -0.01 (-0.14%)
MLCF 45.52 Increased By ▲ 0.54 (1.2%)
OGDC 218.00 Decreased By ▼ -0.23 (-0.11%)
PACE 6.95 Increased By ▲ 0.01 (0.14%)
PAEL 41.20 Decreased By ▼ -0.22 (-0.53%)
PIAHCLA 16.95 Increased By ▲ 0.09 (0.53%)
PIBTL 8.50 Increased By ▲ 0.04 (0.47%)
POWER 9.45 Increased By ▲ 0.06 (0.64%)
PPL 184.00 Decreased By ▼ -1.93 (-1.04%)
PRL 41.35 Increased By ▲ 0.08 (0.19%)
PTC 24.94 Increased By ▲ 0.17 (0.69%)
SEARL 103.70 Decreased By ▼ -0.95 (-0.91%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 40.79 Decreased By ▼ -0.12 (-0.29%)
SYM 17.97 Decreased By ▼ -0.08 (-0.44%)
TELE 8.96 Increased By ▲ 0.05 (0.56%)
TPLP 12.84 No Change ▼ 0.00 (0%)
TRG 66.72 Increased By ▲ 0.12 (0.18%)
WAVESAPP 11.36 Increased By ▲ 0.06 (0.53%)
WTL 1.79 Increased By ▲ 0.01 (0.56%)
YOUW 4.00 No Change ▼ 0.00 (0%)
BR100 12,118 Increased By 9.1 (0.08%)
BR30 36,634 Increased By 36.5 (0.1%)
KSE100 115,144 Increased By 101.3 (0.09%)
KSE30 36,176 Decreased By -23.2 (-0.06%)

The White House will not move forward with plans to cut billions of dollars in foreign aid, a source familiar with the decision told Reuters on Thursday, after an outcry from lawmakers about what they saw as an attempt to sidestep Congress' authority over government spending. President Donald Trump said on Tuesday he was considering scaling back an effort that could have cut billions of dollars in foreign aid and would decide on the proposal within days.
Members of Congress, including some of Trump's fellow Republicans as well as Democrats, had contacted administration officials to object to the latest in a series of Trump administration efforts to cut the amount of money Washington provides in foreign assistance. "The president has been clear that there is waste and abuse in our foreign assistance and we need to be wise about where U.S money is going, which is why he asked his administration to look into options to doing just that," a senior administration official said. "It's clear that there are many on the Hill who aren't willing to join in curbing wasteful spending," the official added.
Administration officials earlier this month briefly froze State Department and U.S. Agency for International Development spending with an eye to using a budget process known as "rescission" to slash up to $4.3 billion in spending that had already been approved by the Senate and House of Representatives.
Total foreign aid accounts for less than 2 percent of the federal budget, and the assistance being considered for cuts accounts for an even tinier amount.
Opponents of slashing foreign aid argued that funding programs that fight poverty, empower women, support education and promote global health are worthwhile investments that save on security costs in the long run.

Copyright Reuters, 2019

Comments

Comments are closed.