Govt opens bank account to raise funds for construction of new dams

ISLAMABAD - The Ministry of Finance has opened a bank account to collect funds for construction of two dams, a step to overcome water-related issues in the future.

The ministery took the step following the Wednesday's orders of the Supreme Court of Pakistan to the federal government, Wapda and the executive authority to take steps in light of unanimous decisions of the Council of Common Interests (CCI) for constructing the 4,500MW Bhasha dam and 700MW Mohmand dam.

A statement issued by the ministry said, "In pursuance of Supreme Court Order dated 04.07.2018 in Constitution Petition No.57 of 2016, the Finance Division, Government of Pakistan has opened account under title “DIAMER BASHA AND MOHMAND DAM FUND–2018” bearing account No.03-593-299999-001-4 and IBN No. PK06SBPP0035932999990014 for raising funds for the construction of abovementioned dams in the country”.

On Thursday, Chief Justice of Pakistan Mian Saqib Nisar deposited Rs1 million as donations in the account, making the first contribution for the noble cause.

The payments into the aforesaid fund will be received at all branches of the State Bank of Pakistan, all Treasuries and Branches of National Bank of Pakistan and all other scheduled Banks.

Contributors from foreign countries can submit the money at the Pakistan Missions and remit to the SBP which would announce the procedure for it.

The apex court on Wednesday also assured the nation that the money collected for the new dams could not be used for any other purpose under any circumstance or reason.