Govt establishes Daimer-Basha and Mohmand Dam Fund

KARACHI: The government has established a fund named the “Daimer-Basha and Mohmand Dam Fund 2018” for raising funds for construction of the two dams in the country.

The fund shall receive donations and contributions from both domestic and international donors, individuals and companies, and the general public has been requested to contribute generously.

State Bank of Pakistan has advised SBP Banking Services Corporation (SBP BSC), National bank of Pakistan and all scheduled and microfinance banks, both domestic and overseas, to receive donations and contributions to facilitate the general public.

The banks have been further advised that establishment of the fund account should be given adequate publicity by displaying at conspicuous places at their branches.

The donations received shall be part of the public account of the federal government, separate from the Federal Consolidated Fund, and will be used exclusively for the expenditure incurred on the construction of the dams.

SBP has also requested the Finance Division to direct the Chief Finance and Accounts Officer at the Ministry of Foreign Affairs for repatriation of donations and contributions received in Pakistani missions abroad to the nostro account of central bank for onward credit to the fund account.

All the donations and contributions deposited at the field offices of SBP and other scheduled and microfinance banks shall be received against a receipt duly signed by the authorised officials of the respective branch.

The banks will provide the receipts to the nearest office of SBP BSC, or as the case may be to the nearest branch of the NBP in accordance with the procedure notified in this behalf. The accounting of the receipts shall be performed by the Accountant General Pakistan Revenue (AGPR) Islamabad.