Category: National

National news coverage from Pakistan including politics, economy, society, and major developments shaping events across the country.

Cellular mobile operators provide free calls in Pakistan

ISLAMABAD: Pakistan Telecommunication Authority (PTA) directed cellular mobile operators to provide free on-net voice calls to their subscribers in flood hit areas.

In a statement, the PTA said cellular mobile operators will provide free on-net voice calls to all their subscribers in flood affected areas with Zero / Nil balance.

According to the PTA, there will be no call setup charges applicable on call connection and customers having no balance will be able to make on-net calls.

PTA is continuously monitoring the communication channels in the affected areas, ensuring connectivity and providing updates, where necessary.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

Furthermore, the PTA has allocated a short code of 9999 to enable mobile phone subscribers to donate to Prime Minister Flood Relief Fund 2022. Users can donate Rs10 by typing ‘fund’ in SMS option and sending to 9999.

The PTA in another statement said that due to flash floods, damage to optical fiber cable and power outage, connectivity services have been impacted in Chitral, Upper Dir, Donbala, Swat, Medan, Lal Qila Samarbaghidar, Tank and Dera Ismail Khan.

In comply with the directives of PTA, Telenor has announced free calls to people in flood affected areas.

The company said that it had allowed free Telenor to Telenor calls to victims of flood hit areas. The company said that it stand with the people of such areas in these difficult times.

Another leading mobile phone operator i.e. Jazz announced to facilitate with free calls to people of flood hit areas. In this regard, the company provided free minutes to Jazz to Jazz and Jazz to PTCL to support relief activities in the areas.

The company further said that subscribers in Balochistan can make calls without having balance for one tonight. Furthermore, it announced to start this free calls services soon in Sindh and Khyber Pakhtunkhwa.

August 28, 2022
Malaysia education exhibition kicks off in Karachi

KARACHI: The Education Malaysia Global Services (EMGS) on Saturday launched the “Study in Malaysia Education Fair” in Karachi. The program offers the student and their parents an opportunity and the information about higher studies in Malaysia.

Chief Executive Officer of EMGS Mohd Radzlan bin Jalaludin and the Consul General Malaysia in Karachi Khairul Nazran Abd Rahman jointly inaugurated the Malaysian Education Fair, which is also scheduled to be held in Islamabad, Peshawar and Lahore.

Mohd Radzlan bin Jalaludin said that, “EMGS is actively preparing a variety of programs to promote the uniqueness of higher education experience in Malaysia to international students from all over the world, especially from Pakistan.”

He also added that they were happy to see a rising trend in student applications from Pakistani students who wish to study in Malaysia.

He said that following the success of the similar events in the Middle East & North Africa, South Asia, East Asia, Southeast Asia, Oceania and Europe, EMGS was thrilled to provide institutions an equal chance to be on-the-ground, to meet students and their parents and have a face-to-face interaction with the university officials.

It is pertinent to mention that the Fair is aimed at providing complete information to the students on backgrounds, programs, fee structures, career pathways.

The Discover Education Malaysia portal is also a one-stop information portal about higher education institutions in Malaysia.

Both Pakistan and Malaysia have established a long-standing exchange and cooperation in education.

Malaysia has become one of the most preferable study destinations by the Pakistani students as it is house of the world’s leading institutes including International Islamic University Malaysia (IIUM), University Kebangsaan Malaysia (UKM), Asia Pacific University of Technology and Innovation (APU), Imperium International College, Newcastle University Medicine Malaysia, UNITAR International University, UCSI University, Open University Malaysia (OUM), SEGi University and Colleges to name a few.

EMGS is a company limited by guarantee (“CLBG”) under the purview of the Ministry of Higher Education Malaysia, which is responsible for promoting Malaysia as the international education hub of choice and to position Malaysia among the Top 10 education destinations. It is also the principal body that manages the movement of international students in Malaysia including facilitating visa processing.

August 27, 2022
Suzuki Pakistan organizes exhibition for used cars

KARACHI: Suzuki Pakistan is organizing an exhibition in Karachi known as Certified Used Car Gala on August 28, 2022 at the Expo Centre.

The event offers cars certified by professional, affordable prices, no additional charges, three free services, secure transaction, transparent deal, and up to 1-year warranty.

READ MORE: Suzuki Motors extends plant shutdown in Pakistan

Suzuki Motors announced new rates of its cars in Pakistan, which are applicable from August 16, 2022.

According to Suzuki Ittehad Motors following are the new showroom prices of Suzuki cars in Pakistan.

Following are the new rates of Suzuki vehicles:

1. Suzuki Swift GLX CVT, the decreased price is Rs3,760,000.

2. Suzuki Swift GL CVT, the decreased price is Rs3,420,000.

3. Suzuki Swift GL M/T, the decreased price is Rs3,180,000.

READ MORE: Suzuki Motors warns plant shutdown in Pakistan

4. Suzuki Alto VXL, the decreased price is Rs2,223,000.

5. Suzuki Alto VXD, the decreased price is Rs1,976,000.

6. Suzuki Alto VX, the decreased price is Rs1,699,000.

7. Suzuki Wagon-R VXL, the decreased price is Rs2,564,000.

8. Suzuki Wagon-R AGS, the decreased price is Rs2.802,000.

READ MORE: Indus Motors rebuts plant shutdown reports

9. Suzuki Wagon-R VXR, the decreased price is Rs2,421,000.

10. Suzuki Bolan Van, the decreased price is Rs1,500,000.

11. Suzuki Bolan Cargo, the decreased price is Rs1,487,000.

12. Suzuki Ravi Euro II, the decreased price is Rs1,424,000.

13. Suzuki Ravi W/O Deck, the decreased price is Rs1,349,000.

READ MORE: Prices of KIA Motors raised up to 19.3% amid rupee devaluation

14. Suzuki Cultus VXL, the decreased price is Rs3,024,000.

15. Suzuki Cultus AGS, the decreased price is Rs3,234,000.

16. Suzuki Cultus VXR, the decreased price is Rs2,754,000.

17. Suzuki Jimny MT, the decreased price is Rs6,049,000.

August 27, 2022
SBP issues IBAN list for donations to PM flood relief fund

State Bank of Pakistan (SBP) has issued a list of IBAN (International Bank Account Number) of Prime Minister Flood Relief Fund 2022 maintained by commercial banks.

READ MORE: SBP opens account for Balochistan Flood Relief, Rehabilitation Fund

Following is the list of banks and IBAN:

01. Allied Bank Limited (ABL), Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58ABPA001009849790015

02. Albaraka Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK11AIIN0000150583517016

03. Askari Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK82ASCM0000020100579916

04. Bank Alfalah Limited, Title of Account # Prime Minister’s Flood Relief Fund Account-2022, IBAN PK60ALFH0005001007990397

05. Bank Al Habib Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK32BAHL1001186690500301

06. Bank Islami Pakistan Limited, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT, 2022, IBAN PK02BKIP0100339720620001

07. Bank of China, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK37BKCH0100002600005375

08. Bank of Khyber, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK66KHYB0001002008277365

09. Bank of Punjab, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK52BPUN6010000181500176

10. Citi Bank, Title of Account PRIME MINISTER’S FLOOD RELIEF FUND, IBAN PK28CITI1000000103660009

11. Dubai Islamic Bank Limited, Title of Account # PRIME MINISTER FLOOD RELIEF FUND 2022, IBAN PK22DUIB0000000807647001

12. Faysal Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK97FAYS3554Z17000001562

13. FINCA Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK25FINC0223183643011000

READ MORE: SBP issues instructions to banks for flood relief donation awareness

14. Habib Metro Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK58MPBL0101027140665909

15. Habib Bank Limited, Title of Account # PM’s Flood Relief Fund Account, 2022, IBAN PK43HABB000042792244003

16 Habib Bank Limited Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK62FMFB0021012862868015

17. ICBC, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK76ICBK0010000000239638

18. JS Bank, Title of Account # PRIME MINISTER’S FLOOD ACCOUNT 2022, IBAN PK56JSBL9001000002029796

19. Khushhali Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK85khbl0000012075443288

20 MCB, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK13MUCB0729483241037873

21. MCB Islamic Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58MCIB0351004196150001

22. Meezan Bank Limited, Title of Account Prime Minister’s Flood Relief Fund Account, IBAN PK39MEZN0001540107020124

23. National Bank of Pakistan, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK92NBPA0002004181048973

24. NRSP Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK60NRSP0000020010002760

25. Samba Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND, 2022, IBAN PK83SAMB0000002000117199

26. Silk Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK68SAUD0000012010847043

27. Sindh Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT,2022, IBAN PK21SIND0003016411713500

28. SME Bank, Title of Account # PRIME MINISTER’s RELIEF FUND, 2022, IBAN PK16SMES1001000664000001

29. Soneri Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK81SONE0000220010110875

30. Standard Chartered Bank, Title of Account Prime Minister’s Flood Relief Fund 2022, IBAN PK75SCBL0000001701259101

31. Summit Bank, Title of Account # PRIME MINISTERS FLOOD RELIEF FUND ACCOUNT -2022, IBAN PK57SUMB0201027140181164

32. U Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK26UMBL0107000093500096

33. United Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK86UNIL0109000286613095

READ MORE: Tax exemption granted to donations for PM flood relief fund

August 27, 2022
Flash floods affect internet services in Pakistan

ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Saturday announced a major breakdown of internet connectivity in the areas affected by flash floods.

READ MORE: Floods affect telecom services: PTA

The authority said that due to flash floods, damage to optical fibre cable and power outage, connectivity services have been impacted in Chitral, Upper Dir, Donbala, Swat, Medan, Lal Qila Samarbaghdir, Tank and Dera Ismail Khan.

READ MORE: Norwegian envoy calls on PTA Chairman

PTA is monitoring the situation closely. Work is underway to fully restore services.

Telecom services were affected yesterday due to multiple fiber cuts in Central and Northern Balochistan but they have been restored.

READ MORE: FBR, PTA introduce temporary registration of cell phones

August 27, 2022
Pakistan’s sensitive price inflation surges by 45%

ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) has surged by around 45 per cent by the week ended August 25, 2022, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

READ MORE: Pakistan’s sensitive price inflation surges by 37.67%

The PBS said that prices of essential items have recorded an increase of 44.58 per cent year on year for the week ended August 25, 2022.

The essential items which recorded increase in prices during the period are included: Tomatoes (178.10 per cent), Onions (155.14 per cent), Diesel (108.77 per cent), Petrol (94.53 per cent), Pulse Masoor (90.74 per cent), Cooking Oil 5 litre (70.61 per cent), Mustard Oil (67.58 per cent), Vegetable Ghee 2.5 Kg (64.71 per cent), Vegetable Ghee 1 Kg (63.93 per cent), Washing Soap (63.27 per cent), Electricity for Q1 (63.03 per cent), Chicken (55.76 per cent) and Pulse Gram (55.07 per cent), while a decrease observed in the prices of Chilies Powder (43.42 per cent), Sugar (16.90 per cent) and Gur (1.21 per cent).

READ MORE: Pakistan’s headline inflation may up 24% in July 2022

The PBS said that the SPI for the current week ended on August 25, 2022 recorded an increase of 1.83 per cent.

Increase is observed in the prices of food items, Tomatoes (43.09 per cent), Onions (41.13 per cent), Potatoes (6.32 per cent), Eggs (3.43 per cent), Garlic (2.23 per cent), Powdered Milk (1.53 per cent) and Pulse Mash (1.12 per cent), non-food items, Cigarettes (2.26 per cent) and LPG (1.95 per cent).

On the other hand, a decrease observed in the prices of Pulse Masoor (1.18 per cent), Vegetable Ghee 1Kg (1.00 per cent), Vegetable Ghee 2.5Kg (0.82 per cent), Bananas (0.61 per cent), Cooking Oil 5 litre (0.51 per cent), Sugar (0.28 per cent) and Mustard Oil (0.07 per cent).

READ MORE: Pakistan inflation crosses 33% on high petroleum prices

During the week, out of 51 items, prices of 23 (45.10 per cent) items increased, 07 (13.72 per cent) items decreased and 21 (41.18 per cent) items remained stable.

The bureau computes the SPI on a weekly basis to assess the price movements of essential commodities at a shorter interval of time so as to review the price situation in the country. SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.

READ MORE: Petroleum prices in Pakistan push inflation 13-year high

August 26, 2022
Pakistan to increase petroleum prices from September 01, 2022

ISLAMABAD: Pakistan is likely to increase prices of petroleum products from September 01, 2022 due to expected imposition of sales tax and petroleum levy.

Besides, international oil prices are also seeing upward movement, sources said on Friday.

The federal government will announce the revised prices of petroleum products on August 31, 2022 for next fortnight effective from September 01, 2022.

Previously, the federal government on August 15, 2022 and revised upward the rate of petrol effective from August 16, 2022.

READ MORE: New petroleum prices in Pakistan from August 16, 2022

According to the sources the government had kept the sales tax rate at zero per cent on petroleum products. The prevailing normal sales tax rate is 17 per cent. If the government implements the normal sales tax rate then the prices of petroleum products will witness massive rise.

The finance division issued following new prices effective from August 16, 2022:

The price of petrol was increased by Rs6.72 per liter to Rs233.91 from Rs227.19.

The rate of high speed diesel (HSD) was nominally reduced by 51 paisas to Rs244.44 from Rs244.95.

The price of kerosene oil decreased by Rs1.67 to Rs199.40 from Rs201.07.

The rate of light diesel oil (LDO) was nominally enhanced by 43 paisas to Rs191.75 from Rs191.32.

A press release issued by the finance division stated that in the wake of fluctuations in petroleum prices in the international market and exchange rate variation, the government had decided to revise the existing prices of petroleum products to pass on the impact to the consumers.

READ MORE: New petroleum prices in Pakistan from August 1, 2022

It is important to note that the government revised the prices in the wake of falling international oil prices and massive recovery in rupee value.

The sources said that the government is striving to get loans under the Extended Fund Facility (EFF) from the International Monetary Fund (IMF). Almost all the conditions have been met and the government is hoping the executive board of the IMF would release an amount of $1.17 billion through an approval at a meeting scheduled for August 29, 2022.

The sources said that the government would impose sales tax on petroleum products in order to fulfill requirements under the IMF program.

Pakistan is a net importer of petroleum products so huge foreign exchange is required for paying against foreign purchases and meeting local demand.

READ MORE: New petroleum prices in Pakistan from July 15, 2022

The country has spent a staggering amount of $23.32 billion for the import of petroleum group during fiscal year 2021/2022 as compared with $11.36 billion in preceding year, showing a growth of 105 per cent. The import of finished products recorded an increase of 134 per cent to $12.07 billion during the fiscal year 2021/2022 as compared with $5.16 billion in the preceding fiscal year.

The benchmark Brent crude is about $100 dollars. Brent crude futures were at $97.40 per barrel in New York trade on August 10, 2022.

The present government had started increasing the petroleum prices on May 26, 2022 when the benchmark Brent Oil was at $112 per barrel.

Considering the price slump of international oil, the government had reduced the prices of petroleum products from July 15 to July 31. However experts believed it was a political decision as the government had to increase petroleum levy and apply sales tax.

READ MORE: New prices of petroleum products in Pakistan from July 01, 2022

The previous government of PTI had kept both the petroleum levy and sales tax at zero in order to provide relief to the masses. The PTI government also provided a huge subsidy on prices of petroleum products in order to lower the rates and provide relief to the masses.

However, former Prime Minister Imran Khan was removed through a vote of no-confidence motion on April 10, 2022. Since then the new coalition government led by PML-N increased the prices of petroleum products sharply on three different occasions.

The present government in the budget estimated to collect Rs855 billion as petroleum levy during the fiscal year 2022/2023. As this fiscal year is starting from July 01, 2022, it is likely that the government will opt to impose the levy from this date.

August 26, 2022
SBP opens account for Balochistan Flood Relief, Rehabilitation Fund

KARACHI: The State Bank of Pakistan (SBP) on Thursday opened an account for collection of donations to Balochistan Flood Relief and Rehabilitation Fund 2022.

According to a circular issued by the central bank, the Government of Balochistan [GoB] has notified establishment of a flood relief fund, namely, Balochistan’s Flood Relief and Rehabilitation Fund, for providing relief and rehabilitation to the affected population due to torrential rains and flash floods in the Province.

The Fund shall accept donations / contributions both from domestic and international sources for aforesaid purpose. The Director General, Provincial Disaster Management Authority (PDMA) will administer the Fund while the Accountant General Balochistan will maintain accounts of the Fund.

READ MORE: Tax exemption granted to donations for PM flood relief fund

In this regard, the SBP has opened “Balochistan’s Flood Relief and Rehabilitation Fund Account 2022” for collection of donations / contributions to the Fund. All the commercial and microfinance banks shall open the account of the Fund and shall receive donations / contributions in cash, through cheques, payorder and demand drafts, at all their branches across the country.

Donors have been provided multiple options for making donation/ contribution to the Fund as described below:

A. Overseas Donors:

a. Roshan Digital Account (RDA) Holders: The Non Resident Pakistanis (NRPs) can contribute in the “Balochistan’s Flood Relief and Rehabilitation Fund” by clicking the fund icon on their bank’s Roshan Samaji Khidmat Page. The RDA banks shall create the “Balochistan’s Flood Relief and Rehabilitation Fund” button/link on their Roshan Samaji Khidmat page by 7th September 2022.

READ MORE: SBP issues instructions to banks for flood relief donation awareness

b. Wire Transfer: the overseas donors including NRPs not having RDA may donate to the Fund through wire transfer in the Fund account of any commercial bank in Pakistan. They would simply advise their respective banks to transmit the donation amount in the Fund Account by debiting their accounts.

c. Transfer through Money Service Bureaus, Money Transfer Operators and Exchange Houses: Overseas donors may also donate / contribute through Money Service Bureaus (MSBs), Money Transfer Operators (MTOs) (e.g. MoneyGram, Western Union) and Exchange Houses (EHs) in line with the arrangements in place for receiving home remittances.

B. Domestic Donors:

a) Cash Deposits at Banks’ Counters: Donors may make their donations / contributions to the fund in cash at any branch of any bank operating in Pakistan. Similarly, donations/ contributions may also be made at any of the field offices of SBP Banking Services Corporation. The banks and SBP BSC offices shall ensure availability of preprinted deposit slips at their cash counters.

b) Deposit of Crossed Cheques in the Name of the Fund in Bank’s Drop Boxes: The donors and contributors may make their donations / contributions to the Fund by dropping crossed cheques in the name of the Fund in their respective bank’s drop box. All banks shall make available drop box facility at their selected branches for donors where they may drop their crossed cheques in favor of the Fund. The banks shall, accordingly debit the customer’s account and transfer the amount of such proceeds daily on consolidated basis through RTGS to the SBP.

c) Digital Channels: The donor may also use digital channels e.g. interbank fund transfer facility (IBFT), RAAST, mobile banking, mobile wallets and ATMs etc. to donate to the Fund. The commercial and microfinance banks shall prominently display the IBAN of the Fund at their websites.

The banks receiving / collecting donations from overseas as well as domestic donors in the Fund Account shall transfer the consolidated amount through RTGS to the SBP on daily basis.

The banks shall maintain the details of individual donors i.e. name of donor the amount of his/her contribution, mode of payment etc. with them and shall be made available to SBP as and when needed.

August 26, 2022

FBR notifies statutory tax rates for salaried persons

The Federal Board of Revenue (FBR) has notified the statutory rates of income tax for salaried persons during Tax Year 2023.

In order to implement the rate of tax for salaried persons, the FBR issued Income Tax Ordinance, 2001 updated up to June 30, 2022. The following table is enacted for the taxation of salaried taxpayers for the Tax Year 2023:

Taxable Income	Rate of Tax
Up to Rs600,000	0%
Rs600,001 –1,200,000	2.5% of amount exceeding Rs600,000
Rs1,200,001 –2,400,000	Rs15,000 + 12.5% of amount exceeding Rs1,200,000
Rs2,400,001 –3,600,000	Rs165,000 + 20% of amount exceeding Rs2,400,000
Rs3,600,001 –6,000,000	Rs405,000 + 25% of amount exceeding Rs3,600,000
Rs6,000,001 –12,000,000	Rs1,005,000 + 32.5% of amount exceeding Rs6,000,000
Amount exceeding Rs12,000,000	Rs2,955,000 + 35% of amount exceeding Rs12,000,000

The rate of tax in the table above are applicable where the income of an individual chargeable under the head ‘salary’ exceeds seventy-five per cent of his/her taxable income.

It is pertinent to mention that Finance Minister Dr. Miftah Ismail on floor of the House while presenting the federal budget 2022/2023 announced massive relief for salaried persons.

According to the budget speech of the finance minister, the basic threshold of taxable salary is proposed to be enhanced to Rs1.2 million from the Rs600,000 for salaried individuals.

“This would pass tens of billions of rupees benefit to salaried people. This will generate a positive economic cycle whereby this money would get transferred to the businesses as the disposable income of salaried people increases therefore ultimately, the government will benefit through the thriving of the business, the creation of more jobs, and tax revenues in the future,” according to the budget speech.

However, the government withdrew the proposal and revived the exempt income to Rs600,000 while approving the Finance Act, 2022 from the National Assembly.

Haider Ali Patel, former president of Karachi Tax Bar Association (KTBA) in a recent presentation on the Finance Act, 2022 stated that the revised rates in respect of salaried taxpayers had been enacted with the change in maximum rate of tax from 32.5 per cent to 35 per cent.

He stated that the enacted tax rates have taken away the proposed tax relief sought to be provided to the individuals belonging to lower salaried class.

“On the other hand, the tax incidence has been increased considerably for the individuals belonging to higher salary brackets,” he added.

Patel presented the following table provides the increase / decrease in the tax incidence of salaries taxpayers from tax liability of the tax year 2022 to tax year 2023 and also the tax liability calculated as per the proposed Finance Bill, 2023:

August 24, 2022

SBP issues instructions to banks for flood relief donation awareness

KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued instructions to banks for raising awareness among the potential donors for contributing in flood relief fund.

The central bank said that with a view to raise awareness among the potential donors and facilitate them in contributing to the PM’s Flood Relief Fund 2022, banks are advised to undertake following measures on immediate priority and submit compliance by August 30, 2022:

READ MORE: Pakistan current account deficit widens by 42% in July 2022

a) Banks shall prominently display banners at all their branches bearing the description “DONATIONS TO THE PRIME MINISTER’S (PM) FLOOD RELIEF FUND ARE ACCEPTED HERE”.

b) Banks shall highlight the IBAN of the Fund at their websites and ATMs screens enabling their clients to donate to the fund digitally.

c) Banks shall also send SMS alerts to all their clients informing them about the establishment of the Prime Minister Flood Relief Fund and its IBAN.

READ MORE: Pakistan’s FY22 current account deficit widens to $17.41 bn

d) To facilitate the walk-in customers in making cash deposits in the fund “pre-printed deposit slips” shall be available at the banks’ counters.

e) The banks offering Roshan Digital Account (RDA) shall make the “PM Flood Relief Fund” available on their Roshan Samaji Khidmat page/portal enabling RDA holders to contribute to the Fund in hassle free manner. The donations received through RDA shall be transmitted to SBP along with donations received through other sources on daily-basis through RTGS as advised earlier.

READ MORE: Pakistan’s CAD balloons to $15.19 billion in 11 months

The Banks are also encouraged to advertise the PM Flood Relief Fund through their social media pages including their webpages, Facebook pages, twitter accounts etc. to create maximum awareness about the fund and the mechanism to make the donations in the fund.

The banks shall ensure that their branch staff has full awareness and understanding of establishment of the fund and the mechanism to collect the donations in the fund account.

READ MORE: Current account deficit swells to $13.78 bn in 10 months

August 24, 2022