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PM Shehbaz approves Rs25b aid for flood victims, addressing PPP’s concerns

02:17 PM | 19 Jun, 2023
PM Shehbaz approves Rs25b aid for flood victims, addressing PPP’s concerns
Source: File photo

ISLAMABAD – Prime Minister Shehbaz Sharif has approved an allocation of Rs25 billion in aid for flood victims in response to the concerns raised by his government’s ally Pakistan Peoples Party (PPP).

During a recent meeting with PPP leaders, the premier had pledged to set aside this amount. In a statement issued by the Prime Minister's Office, it was mentioned that the PPP leadership Syed Naveed Qamar, Sherry Rehman, Syed Khurshid Shah, Qamar uz Zaman Kaira, Syed Murad Ali Shah, and Nisar Khuro expressed their appreciation for the Prime Minister's efforts towards public welfare in the budget, despite the challenging economic conditions.

However, PPP Chairman Bilawal Bhutto-Zardari criticized his coalition partners and demanded the allocation of funds for flood victims. He stated that his party would not support the government's budget, which is scheduled to be passed this month unless the amount was provided. Bilawal, who is also the Foreign Minister in Shehbaz cabinet, voiced his concerns during a rally held in Swat on Saturday, expressing his dissatisfaction with the unfulfilled promises in the budget.

From 14 June to October 2022, floods in Pakistan killed 1,739 people, and caused ₨ 3.2 trillion of damage and ₨ 3.3 trillion of economic losses. The immediate causes of the floods were heavier than usual monsoon rains and melting glaciers that followed a severe heat wave, both of which are linked to climate change.

Sindh, which is vital to Pakistan’s economy, has been disproportionately affected by the 2022 floods, which significantly damaged houses, transport, agriculture, irrigation and communication infrastructure. Millions of people remain in need of assistance.

Now the approved amount, expected to be included in the debt-driven budget, will be utilized for the rehabilitation of the flood victims, according to reports in local media.

Reports further suggest that PM Shehbaz will also chair a meeting today (Monday) to further address the concerns raised by the PPP. The meeting will be attended by the Foreign Minister, as well as ministers and financial experts from both parties.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 24 Feb 2024

Pakistani currency remains largely stable against US dollar and other currencies in the open market on February 24, 2024.

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

On Saturday, Euro stands at 302  for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 24 February 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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