Adnan Faruqi
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UK gives Pakistan £120 million for poverty alleviation
Islamabad: The government diverted £60 million to Citizens Damage Compensation Program (CDCP) Out of total £120 million UKs grant for Poverty Reduction Budgetary Support.
This was said by Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Sheikh while talking to Deputy High Commissioner of United Kingdom Francis Campbel on Monday.
Federal Minister said that Pakistan and UK entered into a long-term development assistance relationship in 2006 by signing a 10 year Development Partnership Arrangement (DPA). He said that in line with the shared vision set forth in the DPA, UK Government published its Country Plan for Pakistan for the period 2008-2013. The Country Plan focuses on sustainable growth, faster progress towards Millennium Development Goals (MDGs), good governance and improving aid effectiveness through donor harmonization.
Finance Minister appreciated UKs efforts as a leading bilateral development partner of Pakistan and its budgetary support mainly in the areas of education, health, poverty reduction and governance.
They also discussed the Pak-UK trade relations, as UK is most important trading partner within the European Union (EU). In the same way, UK has traditionally been the second largest investor in Pakistan and Foreign Direct Investment (FDI) of UK in Pakistan stands at $ 208.1 million in 2010-11.
The meeting also deliberated on certain FBR (Federal Board of Revenue) related issues of some British companies working in oil and gas sector. Finance Minister assured the delegation that the issues will be resolved accordingly so that our development cooperation further is strengthened.
UK gives Pakistan £120 million for poverty alleviation | The News Tribe
Islamabad: The government diverted £60 million to Citizens Damage Compensation Program (CDCP) Out of total £120 million UKs grant for Poverty Reduction Budgetary Support.
This was said by Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Sheikh while talking to Deputy High Commissioner of United Kingdom Francis Campbel on Monday.
Federal Minister said that Pakistan and UK entered into a long-term development assistance relationship in 2006 by signing a 10 year Development Partnership Arrangement (DPA). He said that in line with the shared vision set forth in the DPA, UK Government published its Country Plan for Pakistan for the period 2008-2013. The Country Plan focuses on sustainable growth, faster progress towards Millennium Development Goals (MDGs), good governance and improving aid effectiveness through donor harmonization.
Finance Minister appreciated UKs efforts as a leading bilateral development partner of Pakistan and its budgetary support mainly in the areas of education, health, poverty reduction and governance.
They also discussed the Pak-UK trade relations, as UK is most important trading partner within the European Union (EU). In the same way, UK has traditionally been the second largest investor in Pakistan and Foreign Direct Investment (FDI) of UK in Pakistan stands at $ 208.1 million in 2010-11.
The meeting also deliberated on certain FBR (Federal Board of Revenue) related issues of some British companies working in oil and gas sector. Finance Minister assured the delegation that the issues will be resolved accordingly so that our development cooperation further is strengthened.
UK gives Pakistan £120 million for poverty alleviation | The News Tribe
