*KARACHI: The government has established a fund named the “Daimer-Basha andMohmand Dam Fund 2018” for raising funds for construction of the two damsin the country.*

The fund shall receive donations and contributions from both domestic andinternational donors, individuals and companies, and the general public hasbeen requested to contribute generously.

State Bank of Pakistan has advised SBP Banking Services Corporation (SBPBSC), National bank of Pakistan and all scheduled and microfinance banks,both domestic and overseas, to receive donations and contributions tofacilitate the general public.

The banks have been further advised that establishment of the fund accountshould be given adequate publicity by displaying at conspicuous places attheir branches.

The donations received shall be part of the public account of the federalgovernment, separate from the Federal Consolidated Fund, and will be usedexclusively for the expenditure incurred on the construction of the dams.

SBP has also requested the Finance Division to direct the Chief Finance andAccounts Officer at the Ministry of Foreign Affairs for repatriation ofdonations and contributions received in Pakistani missions abroad to thenostro account of central bank for onward credit to the fund account.

All the donations and contributions deposited at the field offices of SBPand other scheduled and microfinance banks shall be received against areceipt duly signed by the authorised officials of the respective branch.

The banks will provide the receipts to the nearest office of SBP BSC, or asthe case may be to the nearest branch of the NBP in accordance with theprocedure notified in this behalf. The accounting of the receipts shall beperformed by the Accountant General Pakistan Revenue (AGPR) Islamabad.