The government allocates over Rs103 billion to provide urgent relief

The government allocates over Rs103 billion to provide urgent relief

wevnews

On Tuesday, the government approves over Rs 103 billion for immediate relief to 4.1 million people affected by the floods and approved a grant to give the State Guest status to a delegation from the Financial Action Task Force (FATF).

The Economic Coordination Committee (ECC) took the decisions to double the country’s strategic wheat reserves quota, further, allowed the additional import of 800,000 metric tons of wheat by reversing a one-month old decision.

According to the finance ministry, the ECC approved a summary and directed the BISP to disburse a total of Rs 25,000 per household for a poverty score of up to 32 in disaster-affected districts.

Prime Minister Shahbaz Sharif had directed the BISP to identify the bottom 60 percent of the population of the affected notified areas of the country with the help of data from the National Socio-Economic Registry.

Federal Minister for Industries and Production Syed Murtaza Mahmud, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Coordinator to the PM on economy Mr. Bilal Azhar Kayani, federal secretaries and other senior officers attended the meeting.

The ECC reversed its month-old decision to reduce the country's strategic wheat reserves and reduce import requirements. The Ministry of National Food, Conservation and Research presented a summary of the reset of the national strategic wheat reserve at the level of 2 million metric tons.

“In the wake of recent rainfall and flood damages ensuing financial issues of farmers for the next wheat sowing season, rising local wheat prices and hoarding and smuggling issues, the 1 million metric tons current quantity is insufficient”, according to the food ministry.

The committee was that informed that the FATF team, consisting of 15 members, was visiting Pakistan from August 29 to September 2 to verify Pakistan's position as stated in the cyclical reports. A summary of TSG allocation of Rs.7 million was presented in this regard. The ECC approved this summary.

The visit has been described as "crucial" for Pakistan to get out of the gray list. Pakistan was added to the list in February 2018, which came into effect in June of the same year, and has been under international scrutiny ever since.