US approves $698m in military aid to Pakistan
WASHINGTON: The United States Congress on Friday approved financial assistance of $698 million for Pakistan in its Foreign Appropriations Bill for the next fiscal year 2006. The amount had earlier been proposed by the US administration.
It includes $300 million for military financing, and $300 million in economic support fund, as part of the $3 billion five-year assistance package announced by President Bush in Camp David in June 2003. The House Appropriation Committee initially reduced the allocation by $80 million but finally agreed with the administration and the Senate to restore the full amount. This is the second year of the $3 billion multi-year assistance package. The Congress allowed a one-year waiver from application of sanctions on Pakistan. It also restored the earlier cut of $80 millions on assistance to Pakistan, initiated at the level of House of Representatives.
The Congress approved the appropriations bill on November 4, while the House and Senate conferees committee had passed allocations earlier on November 2. President Bush is to formally sign the adopted bill. It may be mentioned that the new financial year in US starts from October 1, and therefore, the new fiscal year started from October 1, 2005. app
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| Saturday, February 28, 2004
