222 BUSINESS GROUPS DONATE RS.7.1 BILLION IN DOMESTIC FUNDING FOR EARTHQUAKE VICTIMS- Hafeez Shaikh

Islamabad, October 24, 2005

The Cabinet Committee on Fund Raising from Business Community for Earthquake Relief has realized Rs.7.1 billion from 222 Business groups for earthquake relief while the remaining 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.

Dr. Abdul Hafeez Shaikh informed that as on October 24, 2005 Rs.5,271. 27 million has been raised for the President's Fund, Rs. 136. 20 million to other relief funds and the increase in contributions in kind were worth Rs. 1,671. 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 not to make unnecessary delay in their contributions in cash and kind as the advent of winter was a big threat for the victims, particularly for the innocent children and the old age persons. Timely response towards the President's Relief Fund and other funds would help to speed up the rescue and rehabilitation efforts, he said.

He further stated that most of the companies, which have earlier made contributions on the appeal of the Cabinet Committee have further increased the value of their donations, which included National Bank of Pakistan Rs.100 M for President Relief Fund (PRF) & Rs.65 M in kind for Helicopters, 100 trucks, one day salary of employees and reconstruction of houses of effected employees, Pakistan Telecommunication Company Limited Rs.40 M for PRF & Rs.20 M in kind, Sui Southern Gas Company Rs.25 M for PRF, Sui  Northern Gas Company Limited Rs.25 M for PRF and TOTAL Rs.7.8 M for PRF.

The donations made by new individuals and the companies include Prince Walid Bin Talal Rs.320 M, Jahangir  Siddiqui & Co Ltd Rs.15 M, Air Blue Rs.10 M, NIT Rs.5.24 M, Bosicor Pakistan Limited Rs.3.3 M and Rs. one Million each by Synthetic Products Enterprises (pvt) Ltd, CNG Station Owners Association of Pakistan and Petrosin Energy (Pvt) Ltd while Interstate Gas System (Pvt) Ltd
and A & N Trimmings Ltd, HIC in UK have respectively contributed Rs. 0.6 million and Rs. 0.1 million.

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.