Pakistan to receive $600 mln under CSF this month: Hafeez Shaikh


Federal Finance Minister Hafeez Shaikh has said on Tuesday that the country will receive $600 million from the United States under the Coalition Support Fund (CSF) this month.
Talking to media after a meeting of the Economic Coordination Committee (ECC) here, Shaikh said that $600 million will be received by the end of current month.
He said that the payment is being made against expenses incurred by Islamabad during June 2011 to November 2011 period.
The expected inflow is likely to bring some respite for the rupee which is fast eroding its value against the greenback.
Shaikh also claimed that the country’s overall economic situation is ‘well under control.’
The federal finance minister also informed that the ECC has approved the export of 200,000 tons of sugar this season as the country has ample stock of the commodity. He said that exports would bring in much-needed foreign exchange in the country.
Shaikh said that the government has also decided to change the pricing formula for the Qadirpur gas field as the gas prices of the field were frozen for the last ten years. SNGPL and OGDCL would soon sign an agreement into this effect, he added.