Pakistan to see bigger deficit due to US aid delay:Tareen

Pakistan's economy will suffer and the budget deficit will widen following a delay in getting funds from the US, said the finance minister Shaukat Tareen. Delay in getting funds through the US aid bill, or Kerry-Lugar bill, will cause a shortfall [in finances] of around $800 million to $850 million during the current fiscal year, said the finance minister. Shaukat Tareen said, If the country fails to get aid from the US, the [Pakistan] government will borrow more from the International Monetary Fund to plug its deficit and will also tighten its belt by reducing government expenses. Talking to media, he said that US has promised to give 50 crore dollars till November 15. Tareen said that Friends of Pakistan will give $ 4 billion in the next two years. He said that it is expected to get 30 crore dollars from international donors in the second quarter of this fiscal year.