US to slash Pakistan’s defence aid to $ 150 million

Agencies
August 2, 2018

Washington, Aug 2: Amidst tensions in bilateral ties, the US Congress has passed a defence spending bill capping its security-related aid to Pakistan at USD 150 million, significantly below the historic level of more than USD one billion per year.

The National Defense Authorisation Act-2019 (NDAA-19), however, removes certain conditions – like action against Haqqani Network orthe Lashkar-e-Taiba (LeT) -- as was the case in the past few years for disbursement of US aid to Pakistan.

The Senate passed the conference report on NDAA-19 by 87 to 10 votes yesterday afternoon. The House of Representatives had passed the conference report last week. It now heads to the White House for President Donald Trump's assent.

"The legislation reduces the total amount of funds provided for reimbursement to Pakistan to USD 150 million. This is a significant reduction from the USD 700 million that was authorised through Coalition Support Fund (CSF) last year," Anish Goel, who was part of Barack Obama's White House National Security Council, told PTI.

However, in doing so, the legislation gets rid of the certification requirements for Pakistan's action against the Haqqani Network and it also gets rid of the authority to reimburse Pakistan for counter-terrorism, he said.

"Hence, the Pentagon no longer has any tools to put pressure on Pakistan to undertake counter-terrorism activities or action against the Haqqani Network," Goel, who till recently was a senior staffer in the Senate Armed Services Committee, said.

During the previous Obama administration, Pakistan used to get nearly 1.2 billion aid from the US under the Enhanced Partnership with Pakistan Act of 2009 also known as the Kerry-Lugar-Berman Act.

US President Donald Trump since assuming office has been tough on Pakistan over its inaction against terror groups. Trump in August last year unveiled his new South Asia policy and asked Pakistan to do more against such groups.

The US in January suspended more than USD 1.15 billion security assistance to Pakistan, accusing it of harbouring terror groups like the Afghan Taliban and the Haqqani Network within its border and showing unwillingness to take "decisive actions" against them.

The US has also voiced its disapproval of growing Chinese involvement in Pakistan, adding to tensions in bilateral ties. US Secretary of State Mike Pompeo on Monday had cautioned the IMF against a possible fresh bailout for Pakistan's new government to pay off Chinese lenders who have invested in the strategic China-Pakistan Economic Corridor.

Joshua White, who was also a part of Obama's White House National Security Council team and worked on Pakistan, said this year's defense legislation significantly reduces the amount of security assistance that Pakistan can theoretically receive outside of traditional Foreign Military Financing.

"It makes Pakistan ineligible for Coalition Support Funds (CSF), but adds Pakistan to a list of countries that can receive a related form of assistance designed to help partner nations bolster border security," White told PTI and observed, "This legislation is a mixed blessing for Pakistan."

"On one hand, these new border security funds will be capped at USD 150 million per year, significantly below historical levels of CSF. On the other hand, the legislation does away with the onerous reporting requirements and certifications that have, in practice, made it difficult for Pakistan to receive such funds," he said.

The former White House official noted that it is important to consider this legislation in the current political context.

The Trump administration has effectively frozen security assistance to Pakistan, and this new legislation will do nothing in the short-term to change that, he said.

"It does, however, mean that if the administration decides to resume some form of modest security assistance in the future, it will be authorised by the Congress to do so without having to produce detailed reports and make difficult certifications regarding Pakistan's support vis-a-vis the Haqqani Network and other threats to the United States," White said.

"Over the longer term, that could prove to be a win for Pakistan," he said, while noting that in theory, the new funding authority does not permit counter-terrorism assistance, but only assistance related to border security.

"In practice, these terms are so malleable that I do not expect that the Pentagon would find itself very limited as to the kind of support it could provide," White said.

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News Network
July 11,2020

Geneva, Jul 11: The World Health Organization said Friday that it is still possible to bring coronavirus outbreaks under control, even though case numbers have more than doubled in the past six weeks.

WHO chief Tedros Adhanom Ghebreyesus said the examples of Italy, Spain, South Korea and India's biggest slum showed that however bad a outbreak was, the virus could still be reined in through aggressive action.

"In the last six weeks cases have more than doubled," Tedros told a virtual press conference in Geneva.

However, "there are many examples from around the world that have shown that even if the outbreak is very intense, it can still be brought back under control," said Tedros.

"And some of these examples are Italy, Spain and South Korea, and even in Dharavi -- a densely packed area in the megacity of Mumbai -- a strong focus on community engagement and the basics of testing, tracing, isolating and treating all those that are sick is key to breaking the chains of transmission and suppressing the virus."

The novel coronavirus has killed at least 555,000 people worldwide since the outbreak emerged in China last December, according to a tally from official sources compiled by AFP on Friday.

Nearly 12.3 million cases have been registered in 196 countries and territories.

"Across all walks of life, we are all being tested to the limit," Tedros said, "from countries where there is exponential growth, to places that are loosening restrictions and now starting to see cases rise.

"Only aggressive action combined with national unity and global solidarity can turn this pandemic around."

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News Network
June 2,2020

Jun 2: A new female billionaire has emerged from one of Asia's most-expensive breakups.

Du Weimin, the chairman of Shenzhen Kangtai Biological Products Co., transferred 161.3 million shares of the vaccine maker to his ex-wife, Yuan Liping, according to a May 29 filing, immediately catapulting her into the ranks of the world's richest.

The stock was worth $3.2 billion as of Monday's close.

Yuan, 49 this year, owns the shares directly, but signed an agreement delegating the voting rights to her ex-husband, the filing shows. The Canadian citizen, who resides in Shenzhen, served as a director of Kangtai between May 2011 and August 2018. She's now the vice general manager of subsidiary Beijing Minhai Biotechnology Co. Yuan holds a bachelor's degree in economics from Beijing's University of International Business and Economics.

Kangtai shares have more than doubled in the past year and have continued their ascent since February, when the company announced a plan to develop a vaccine to fight the coronavirus. They slipped for a second day Tuesday following news of the divorce terms, losing 3.1% as of 9:43 a.m. in Hong Kong and bringing the company's market value to $12.9 billion.

Du's net worth has now dropped to about $3.1 billion from $6.5 billion before the split, excluding his pledged shares.

The 56-year-old was born into a farming family in China's Jiangxi province. After studying chemistry in college, he began working in a clinic in 1987 and became a sales manager for a biotech company in 1995, according to the prospectus of Kangtai's 2017 initial public offering. In 2009, Kangtai acquired Minhai, the company Du founded in 2004, and he became the chairman of the combined entity.

China's rapidly growing economy has been an engine for the country's richest, and Du is not the only tycoon who's had to pay a steep price for a divorce. In 2012, Wu Yajun, at one point the nation's richest woman, transferred a stake worth about $2.3 billion to her ex-husband, Cai Kui, who co-founded developer Longfor Group Holdings Ltd. In 2016, tech billionaire Zhou Yahui gave $1.1 billion of shares in his online gaming company, Beijing Kunlun Tech Co., to ex-wife Li Qiong after a civil court settlement.

Sometimes, a goodbye can be time-consuming too. South Korean tycoon Chey Tae-won's wife filed a lawsuit in December asking for a 42.3% stake in SK Holdings Co. valued at $1.2 billion. That would make her the second-largest shareholder of the company should she win the case, which is still ongoing.

The most expensive divorce in history is that of Jeff and MacKenzie Bezos. The Amazon.com Inc. founder gave 4% of the online retailer to Mackenzie, who now has a $48 billion fortune and is the world's fourth-richest woman.

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News Network
May 18,2020

Washington, May 18: US President Donald Trump on Sunday called his predecessor Barak Obama a ‘grossly incompetent president’.

The Trump’s reaction came after Obama on Saturday criticised the US authorities' response to the coronavirus outbreak.

“He (Obama) was an incompetent president. That’s all I can say. Grossly incompetent,” Trump told reporters at the White House on his arrival from Camp David.

Trump was responding to a question on the virtual commencement address by Obama a day earlier.

In his address to college graduates, Obama had said that the COVID-19 pandemic has exposed the American leadership.

“More than anything, this pandemic has fully, finally torn back the curtain on the idea that so many of the folks in charge know what they’re doing,” Obama said without naming officials.

“A lot of them aren’t even pretending to be in charge,” he added.

There was no immediate response from the office of the former president on the remarks made by Trump.

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