TOKYO – Pakistan looks set to secure more than the $4 billion (€3.07 billion) in aid it has sought at a donor conference in Japan after Pakistani president Asif Ali Zardari vowed to step up the fight against militants.
In return for new promises of funds, Mr Zardari assured donors, in comments that departed considerably from a prepared speech, that Pakistan would do its utmost to deliver on economic reforms and on fighting militants.
“Despite the fact that I lost the mother of my children, I have taken up this challenge . . . to lead Pakistan out of these difficult times,” said Mr Zardari, the widower of assassinated former prime minister Benazir Bhutto.
“If we lose, you lose. If we lose, the world loses,” he said.
The international community is worried an economic meltdown in Pakistan, propped up with a $7.6 billion loan from the International Monetary Fund (IMF) over two years, could fan support for al-Qaeda and other militants.
US special envoy Richard Holbrooke told reporters that final pledges were likely to exceed the minimum $4 billion sought. “I don’t know the final figure, but it looks much higher than people expected,” he said.
Pakistan is central to US president Barack Obama’s plan for south Asia, which includes trying to stabilise Afghanistan, where Taliban militants – many operating from lawless enclaves in northwest Pakistan – have thrown that effort into doubt.
Mr Zardari gave a gloomy account of that situation. “It is a terrain where no forces in the world or no armies of the world have . . . won before,” he said.
Japanese prime minister Taro Aso said he was impressed by the president’s resolve. “I am convinced that the strong commitment by Pakistan itself will strengthen the resolve of the international community to support the civilian government,” Mr Aso said.
“We cannot stabilise Afghanistan without stabilising Pakistan and the opposite is also true.”
Iranian foreign minister Manouchehr Mottaki echoed that view. “We feel and we believe that Pakistan is serious to combating [sic] against terrorism.”
Foreign investors are also eager to see Pakistan proceed with tough economic reforms seen as vital to restore growth.
“With the support of the IMF, the [World] Bank, and other development partners, Pakistan is now returning to a path that should allow for economic growth and poverty reduction,” said Isabel Guerrero, World Bank vice-president for south Asia.
“While it’s been imperative to focus on the short term, in terms of regaining macroeconomic stability, we would not also want to undermine the importance of staying focused on the longer- and medium-term priorities,” she said.
Pakistan has a list of projects worth $30 billion it wants implemented over the next 10 years, including hydroelectric dams, roads and projects.
The US announced yesterday it would provide aid worth $1 billion over two years, subject to approval from Congress, matching a pledge from Japan. – (Reuters)