DOMESTIC FUNDING FOR EARTHQUAKE RELIEF CROSSES RS.6.6 BILLION Hafeez Shaikh

Islamabad, October 22, 2005

The Cabinet Committee on Fund Raising from Business Community for Earthquake Relief has so far received Rs.6.6 billion from 221 Business groups for earthquake relief while more than 700 business groups contacted by the Committee are in the process to respond in this regard. Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment who is also Chairman of the Cabinet Committee on FRFBCFER, constituted by the Prime Minister, said in a statement issued here today.

He said urged upon the companies, which were in the process of responding to the appeal for donation to take swift action for making the donations as every passing moment was increasing the miseries of the affected people. All those who were determined to contribute in the form of cash or kind should not make any further delay and transmit their contributions immediately, he said.

Giving the breakup of the funding as on October 22, 2005, Dr. Abdul Hafeez Shaikh informed that Rs.4, 837. 96 million has been raised for the President's Fund, Rs. 125. 20 million to other relief funds and the increase in contributions in kind were worth Rs. 1,602. 13 million. The Minister again requested the donors to indicate the worth of goods at the time of their handing over, as most of the people did not indicate the value of the goods, which was essential to compare the remaining requirements.

Dr. Hafeez Shaikh appealed to the remaining business groups to respond swiftly to the appeal for contributions towards the President's Relief Fund to extend timely help to the victims. The enthusiastic response from the people of Pakistan was being highly acknowledged by the world at large, which has made us proud to be part of this nation, he stated.

The Ministry of Privatisation & Investment is working as unofficial secretariat of the Committee while Mr. M. Tahsin Khan Iqbal Secretary M/o P & I is the coordinating Secretary for this national task. The other members of the Committee includes Mr. Humayun Akhtar Khan Minister for Commerce, Mr. Owais Ahmad Khan Laghari Minister for Telecom & I.T, Mr. Mushtaq Ali Cheema Minister for Textile, Mr. Jehangir Khan Tareen Minister for Industries, Dr. Salman Shah Advisor for Finance, Mr. Umar Ahmad Ghumman MOS for Privatisation & Investment, Mr. Hamid Yar Hiraj MOS Commerce and Mr. Umar Ayub MOS Finance.