KARACHI: Finance Minister Miftah Ismail on Thursday said in order to support the flood-hit citizens, a summary to deduct two-day salaries of government employees is being sent to the Prime Minister Shehbaz Sharif for approval.

Also, he asked SBP to direct banks to contribute a certain share of their profits and deduct salaries of employees to contribute flood victims, in this need of hour.

Addressing the members of Jamiyat Panjabi Saudagaran Delhi Karachi on his visit to the organization’s office, Miftah said the federal government has contributed Rs 28 billion for the flood victims.

“I am ready to contribute Rs 60 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,” he said.

Around 4 million flood-hit families are currently in dire need of help across different districts of the country, and the federal government has decided to pay Rs 25,000 for one women from each family in the next two week, so that they meet their day to day domestic expenditures, and may not spend nights under open sky, with empty stomach.

Commenting on the rising prices of vegetables and petroleum products, he said the government is importing vegetables, particularly onion and tomatoes from neighbouring countries. The option is open to import Onions from neighbouring India and discussions have been made with two international agencies, in this regard.

Miftah said that standing crops have been destroyed by the monsoon floods. Minimum $10 billion rupee loss has been estimated so far. Rebuilding will require around Rs 500 billion, he said. He acknowledged that inflation is the major issue of common man, and he vowed to bring down electricity prices within two months, and control inflation in four to five months.

He said he has rescued the country from the possible default by successful negotiations with the IMF, and winning the necessary sport from the friendly countries, including the Qatar.

He held the ongoing Russia-Ukraine war responsible for the current hike in the prices of fuel – Gas, Petrol, and Coal in Pakistan and world over.

“We have to learn to live in our own means,” he said and added that his decision to impose ban on import of some luxury products was in larger interest of the country.

Copyright Business Recorder, 2022