July 10, 2018 / BY AKD

Banks to Receive Payments for the Construction of Diamer Basha and Mohmand Dams

Considering the recent movement for building of water dams in Pakistan, State Bank of Pakistan (SBP) has ordered all the local banks to receive payments and donations for the construction of Diamer Basha and Mohmand dams. All scheduled and microfinance banks are directed to open special accounts titled “Diamer Basha and Mohmand Dam Fund – 2018” in their domestic and overseas branches.

The government of Pakistan has apparently urged the nation to contribute in this cause as the country is on a verge of a potential water scarcity. Many areas in urban cities like Karachi, Lahore and Multan are facing water shortage. According to many recent reports, Pakistan could face mass droughts by 2025 if immediate steps are not taken. In light of the current situation, it is a huge positive development as the whole nation is now united to get these dams built as soon as possible.

Donors, individuals and companies from Pakistan and abroad can make their contributions in the form of cash, cheque, prize bonds and other cash equivalents. The banks shall provide a complete receipt against your donation transfer. The banks are also directed to allow the contributors to make their funds transfers through Automated Teller Machines (ATM), internet banking and other Alternate Delivery Channels (ADCs) in order to facilitate all the payment hurdles.

The banks will publicize all the required details about the specific bank account at all their branches and on their websites. All the donations received under these bank accounts will be transferred to Public Account of the Government of Pakistan and will be used exclusively for the construction of Diamer Basha and Mohmand dams.

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