Banks asked to provide relief package for Malakand - Zameen News

Banks asked to provide relief package for Malakand

January 12, 2019 • news

Islamabad: Financial institutions have been asked to provide relief packages for Malakand division – a news source reported.

Officials of the finance division and Zarai Taraqiati Bank Limited said that the State Bank issued the directives. They were briefing the Standing Committee on SAFRON.

Relief packages will be issued for the districts of Malakand, Swat, Buner, Chitral, Lower and Upper Dir, and Shangla. Financial institutions, including development banks, will provide funds for the project.

Meanwhile, the government has allocated funds worth PKR 166 million for 18 development projects in the erstwhile FATA region. The schemes include projects for mineral exploration, technical education, as well as construction of small dams.

FATA Secretary Sikandar Qayyum said work is being carried out on 114 schemes. He added that a sum of PKR 3,434 million has been allocated for the development projects.

Khyber-Pakhtunkhwa had last year granted a bridge loan of PKR 100 million to FATA. The government released the amount as compensation for the Agency Development Fund.

AFD was abolished when the FATA merger bill came into effect last year.