Islamabad: The Economic Coordination Committee (ECC) of both the executive council on Saturday authorised emergency funds of Rs5 billion for relief and rescue operations nationwide as flash floods inundate various sections of the nation.
Additionally, the Zarai Taraqyati Bank Limited was instructed by Prime Minister Shehbaz Sharif to investigate the possibility of extending the debts that the flood-affected areas had gotten from it (ZTBL).
The ECC granted a technical supplemental grant of Rs 5 billion again for NDMA for evacuation, assistance, and compensation for deaths and injuries of flood victims, according to a statement that the Ministry of Finance.
Given that the funding is coming from the fiscal contingency pool that was approved in the budget, it’s a technical extra grant and won’t put any further strain on the budget.
The ECC meeting was remotely presided over by Finance Minister Miftah Ismail, who also urged the business community to contribute to the PM’s flood relief fund.On the instructions of the premier, the NDMA had presented the summary at the special ECC meeting for the allotment of monies for flood victims.
The National Disaster Management Fund (NDMF) has been requested to receive a block allocation of Rs. 5 billion for use in flood-affected districts as well as for compensation for the deceased and injured.