The news is shocking for Pakistan as it may loose USD 1.5 billion financial aid from the US as a Congressional bill. It was set to debate the 10 years package but it has lapsed. According to the Pakistani daily Dawn the Biden-Lugar Bill, which would have provided as much as USD 1.5 billion to Pakistan over a period of 10 years expired in 2008 along with the term of the US Congress which was to debate it. Dawn published the report recently. Pakistani Urdu-language daily Jang said the bill must now be reintroduced by the Senate.

On the other hand, Pakistan’s US envoy Hussain Haqqani said to private television channel Geo that the bill had not been sidelined and remained an integral component of future Pak-US relations. Additionally, he underlined that the lapsing of the bill was a technicality of the transition of power within the US and the bill would soon be reintroduced by the US Senate.

The Pak Government is upset because the aid through the Biden-Luger bill is dreadfully needed to improve Pakistan’s faltering economy. Pak economy has been roughly hit by the unrest in the Islamic nation. As soon as taking office, the Obama government has indicated that America will hold Pakistan responsible for security in the disputed border region with Afghanistan. However, Pak authority try to manage the aid get again.

Related Tags

, financial aids by america to pakistan , http://www financesteer com/financial-news/us-stop-financial-aid-for-pakistan htm , stop financial aid to pakistan

Related posts:

1. Brazil Takes Step to Protect Future Financial crisis
2. Can the UAE Maintain its Financial System?