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States, Pakistan sign $30 million agreement
ISLAMABAD, Oct 20 (NNI):
The Untied States and Pakistan Saturday signed an agreement of US Dollar
30 million to provide 600,000 tons of Soyabean oil worth $ 30 million to
The agreement was signed between US Ambassador to Pakistan Wendy
Chamberlin and Secretary of the Economic Affairs Division of the Ministry
of Finance Nawid Ahsan here Saturday.
The soybean oil is scheduled to begin arriving in Pakistan in January next
year. The soybean oil will be sold by the government of Pakistan to
private sector processors according to standard practices, said a USIS
The local currency generated from these sales will be used by the Ministry
of Finance to fund rural development and poverty alleviation programmes.
Funded activities will be in accordance with Pakistan’s long-term social
and economic development goals, including improvements in food security,
the alleviation of poverty, and the promotion of broad-based equitable and
Additionally, this commodity, for which the United States will bear the
cast of ocean transportation, will help reduce pressure on the government
of Pakistan’s limited foreign exchange resources. The provision of this
commodity is in fulfillment of the US pledge to provide additional goods
and benefits value at 30 million dollars to Pakistan after US fiscal year
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