Islamabad: Pakistan on March 15 hailed the US decision to lift sanctions imposed on Islamabad after the bloodless military coup of 1999, saying such a move was long overdue.

"Though it was late, we still welcome it as we have good relations with the US," Pakistan Information Minister Sheikh Rashid Ahmed said.

The US should have lifted the sanctions soon after the completion of the general elections in Pakistan last year, he told a local TV channel.

The minister said Pakistan would continue to co-operate with the US in its fight against terrorism.

Reacting to the US announcement, a Foreign Office spokesman also said that "Pakistan welcomes the waiver of the sanction 508".

He said a detailed comment will follow after receiving official communication from the United States, after the weekend, the official APP news agency reported.

US President George W Bush issued a decree on March 14 lifting the final set of punitive measures against Pakistan, paving the way for export financing and other aid worth millions of Dollars.

The decree titled "Waiver of Coup-Related Sanctions for Pakistan", says that Bush is issuing the waiver certifying that it "would facilitate the transition to Democratic rule in Pakistan" and that the waiver is "important to US efforts to respond to, deter, or prevent acts of international terrorism".

PTI