According to Finance Minister Miftah Ismail, a summary to deduct two days’ amount of government employees’ salary is being sent to Prime Minister (PM) Shehbaz Sharif for approval in order to assist the flood-affected families.
Additionally, he requested that the State Bank of Pakistan (SBP) should instruct banks to direct a portion of their profits and staff pay to be withheld in order to support flood victims at this crucial time.
According to Brecorder, Miftah claimed the federal government has provided Rs28 billion for the flood victims while speaking to the Jamiyat Panjabi Saudagaran Delhi Karachi members at the group’s office.
“I am ready to contribute Rs60 billion for the flood victims, and I have already requested the PM for the consideration, yesterday. This amount will be arranged from the budget, and some other sources,” Ismail said.
Govt to pay Rs25,000 to one woman from each affected family
The federal government has decided to pay Rs25,000 for one woman from each family over the next two weeks in order to help flood-affected families who are currently in desperate need of assistance in various districts across the nation.
This will help them to pay for their essential living costs and prevent them from having to spend the night sleeping on the ground on an empty stomach.
Import of essential food items
In response to comments about rising vegetable and petroleum product prices, he said that the government is importing essential products from nearby nations, particularly onions and tomatoes. It is possible to import onions from the neighbouring country of India, and two international organisations have been contacted in this regard.
Standing crops have been damaged by the monsoon floods, according to Miftah. Loss of at least $10 billion has been calculated thus far.
He estimated that it will cost about Rs500 billion to rebuild. He acknowledged that the main problem facing the average person is inflation, and he promised to lower electricity rates in two months and put inflation under control in four to five months.
Ismail said that by successful negotiations with the IMF and obtaining the required support from friendly nations, particularly Qatar, he had saved the country from a potential default.
He also blamed the ongoing conflict between Russia and Ukraine for the recent increase in fuel costs for gas, diesel, and coal in Pakistan and around the globe.
The Finance Minister said that the decision to impose ban on import of some luxury products was in larger interest of the country.
