Foreign Minister Demands for IMF to Provide Subsidies to Flood Victims - Capital TV

June 4, 2023


Foreign Minister Demands for IMF to Provide Subsidies to Flood Victims

Anum Razzaque

KARACHI: The Foreign Minister, Bilawal Bhutto Zardari demanded IMF and the federal government provide targeted subsidies in areas that have been affected by the devastation caused by floods.

Addressing the Conference on Resilient Sindh: From pledges to reconstruction, the Foreign Minister stated that while the need for the IMF is important, it is also crucial to assisting the flood victims.

This responsibility lies not only with the federal government but also with international organizations, including the IMF, to improve the country’s economy, Bilawal said.

He said Reforms should be implemented, but relief should also be given to those affected by the floods.

The Foreign Minister stated during the time of the COVID-19 pandemic, both federal and provincial governments were relieved from spending in the healthcare sector.

Meanwhile, he hoped that the IMF would consider exemptions from conditions for relief and reconstruction costs in the current negotiations.

Houses of Flood Victims

Hence, he said that the goal is to not only build houses for the flood victims but to also give them ownership rights.

However, Bilawal Bhutto Zardari stated that the initiative to construct homes for flood victims is a test case, and if successful, it will become a hallmark of our generation’s land reforms.

Bilawal Bhutto Zardari stated that the key aspect of the housing construction project is not just the physical building of houses, but also granting the beneficiaries ownership rights.

He said, “The rebuilding process is expected to take 2 to 3 years, and the government promises to help those whose homes were damaged both financially and through granting ownership rights.”

Meanwhile, The foreign minister reported that the World Bank has given $2 billion for flood relief, with 500 million specifically designated for the People’s Housing Program.

“To reconstruct all destroyed houses in Sindh, 1.5 billion dollars are required, with 500 million to be used directly for construction from the World Bank funds,” said Bilawal.

He said, “Pakistan expresses gratitude to UN Secretary-General Antonio Guterres for securing more funding for the country than what was requested following the flood disaster.”

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