SBP instructs banks to collect funds for ‘much required’ dams

  • SBP has requested the general public to contribute generously to the fund.
Business

KARACHI  – The State Bank of Pakistan (SBP) has ordered on Tuesday to all the commercial banks and microfinance banks operating in the country to open ‘Diamer Basha and Mohmand Dam Fund Account-2018’ to collect funds for construction of the two dams.

The government has established a fund ‘Daimer Basha and Mohmand Dam Fund – 2018’ with the aim to raise funds for construction of two key dams in the country.

SBP Deputy Governor Shamsul Hassan said that an account in all SBP (BSC) field offices, commercial banks and microfinance banks has been opened on the instruction of Chief Justice of Pakistan (CJP) Justice Mian Saqib Nisar.

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He further said that the officials of SBP and several commercial banks have also donated their one-day salary for the construction of dams.

The funds shall receive donations and contributions from both domestic and international donors, individuals and companies.

Donations and contributions to the funds can be made in the form of cash, cheque, prize bonds and other cash equivalents hereto, against which the bank shall issue a proper receipt.

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SBP in a statement, has further advised the scheduled and microfinance banks that established fund account may be given adequate publicity by displaying the notice “Donations/contributions to Daimer Basha and Mohmand dams fund – 2018 are accepted here” at conspicuous places at their branches.

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The banks have also been directed to make the facilities of ATM, internet banking and other Alternate Delivery Channels (ADCs) available for the customers making donations and contributions to the fund account.

Lastly, the SBP has requested the general public to contribute generously to the fund.