State Bank of Pakistan (SBP) has directed all the scheduled and microfinance banks to open a special account in the name of Diamer Basha and Mohmand Dam Fund – 2018” to receive the donations and contributions in their branches, both domestic and overseas.
It is pertinent to mention here that the government of Pakistan has established a fund, namely, the “Diamer Basha and Mohmand Dam Fund – 2018”, for raising funds for construction of these two dams in the country.
The funds shall receive donations/contributions from both domestic and international donors, individuals and companies. Donations and contribution to the funds can be made in the form of cash, cheque, prize bonds and other cash equivalents hereto against which the bank shall issue a proper receipt.
The foresaid account shall also be opened at the branches of domestic banks operating abroad to facilitate receipt of donations/contributions from overseas Pakistanis and/or any international donors/contributors.
Further, the banks shall also allow their respective customers to make donations/contributions through Automated Teller Machines (ATM), internet banking and/or other Alternate Delivery Channels (ADCs), for intra-bank donations/contributions to the fund account.
All the transactions made through PRISM to the subject fund account shall be exempt from PRISM charges.
Banks are further advised that opening of account of the fund, its IBAN, availability of facility of donations/contributions through ATM, Internet banking and/or other ADC’s should be given adequate publicity on their websites and in premises of their branches.
The scheduled and microfinance banks have been further advised that establishment of the Fund account, may be given adequate publicity by displaying at conspicuous places at their branches, “DONATIONS / CONTRIBUTIONS TO DIAMER BASHA AND MOHMAND DAM FUND – 2018 ARE ACCEPTED HERE”.
The donations received shall be part of the Public Account of the Federal Government, separate from the Federal Consolidated Fund, and will be used exclusively to defray the expenditure to be incurred on the construction of the aforementioned dams.
SBP has requested the Finance Division, Government of Pakistan for necessary directive to Chief Finance and Accounts Officer, Ministry of Foreign Affairs, Islamabad for repatriation of donations/contributions received in Pakistan Missions abroad, to the Nostro Account of State Bank of Pakistan for onward credit to the aforesaid fund account.
All the donations/contributions deposited at the field offices of SBP Banking Services Corporation (SBP BSC), branches of National Bank of Pakistan and all the branches of scheduled & microfinance banks shall be received against a receipt duly signed by the authorized officials of the respective branch, and the banks shall surrender the receipts to the nearest office of SBP Banking Services Corporation (SBP BSC), or to the nearest branch of the National Bank of Pakistan.
The accounting of the receipts shall be performed by the Accountant General Pakistan Revenue (AGPR) Islamabad.
General public has been requested to contribute generously to the fund.
