Money to Blame: Pakistan May Fail to Buy US F-16 Jets Amid Financing Row
10:05 28.05.2016(updated 13:04 28.05.2016)
Islamabad may not be able to seal a deal for the purchase of eight multirole US F-16 fighter jets from Washington as it has not submitted a letter affirming its commitment to pay the full price for the jets in time, according to a diplomatic source.
MOSCOW (Sputnik) – The deadline for the submission of the Letter of Acceptance was May 24, according to the Dawn newspaper.
"Pakistan decided not to fully fund the case with national funds, so the terms of sale have now expired," the source said, as quoted by the paper.
Initially, Pakistan expected a discount from Washington, as the US Foreign Military Financing (FMF) program was supposed to partially finance the $699-million deal. However, the US Congress later ruled to disallow subsidizing the sale of the jets.
Pakistan was expecting to pay $270 million and said that the new offer was not acceptable. Despite this, according to the paper, Pakistan's Ambassador to the United States Jalil Abbas Jilani said that the talks between the sides had not yet reached a "dead-end."
© Sputnik
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