DAILY BUSINESS NEWS AND IN BRIEF: 12.07.2011

Hussain Haqqani sees forward movement on US aid
WASHINGTON: Ambassador Husain Haqqani voiced hope Monday that a rift over suspension of military aid would not spiral downward and stressed that most US assistance to his country was still coming.
The United States has suspended $800 million in security aid as it presses for greater counter-terrorism cooperation from Pakistan.
But Ambassador Husain Haqqani said civilian aid continued to flow and that "so far all suggestions for an aid cut-off for Pakistan have been defeated" as the US Congress looks at funding for next year.
"A pause or hold in delivery of some elements of military assistance does not constitute aid suspension or cut-off and we do not expect such a decision," Haqqani said.
"We are working on continuing cooperation and several meetings are scheduled over the next few days to move forward positively," he said.
"Pakistan and the United States are two democracies committed to cooperation in eliminating terrorism and to stability and progress in South Asia. We need to build trust that has suffered over the years and I am confident we will be able to do that over time," he said.
The US cut-off amounts to a third of the $2.7 billion which the United States delivers in security assistance to Islamabad each year.
The United States has also authorized $1.5 billion a year in civilian assistance to build democratic institutions, schools and infrastructure and last year committed nearly $700 million more for relief after massive floods.


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Mohammed Saleem Mansoori