ECC orders disbursement of PKR 25,000 per household in flood affected districts

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed BISP to disburse PKR 25,000 per household in calamity affected districts.

The meeting of the ECC was held under the chair of Finance minister Miftah Ismail on Tuesday.

According to the details, the Ministry of Poverty alleviation and social safety submitted a summary for emergency cash assistance for affectees of the ongoing flash floods. It called attention to the fact that the unprecedented rains and flash floods across the country have resulted in a great loss of lives and properties. 

In view of the above, the ECC approved the summary and directed BISP to disburse a total of PKR 25,000 per household in calamity affected districts with a poverty score of up to 32. In this regard, the Finance Division will consult BISP to discuss the financial implications and required modalities. 

Furthermore, the federal government will ask the provinces to provide a share in the relief for the affectees.

Meanwhile, the Ministry of Economic Affairs presented a summary on G-20 Debt Service Suspension Initiative (DSSI). This debt relief, termed as DSSI-I, for IDA eligible countries to mitigate the socio-economic impact of Covid-19 was announced in April 2020. At present, six more debt rescheduling agreements have been negotiated and finalised for DSSI-III with Italy, Japan and Spain. In this regard, a summary was presented before the committee by the secretary EAD on behalf of the government.   

After discussion, the ECC agreed to rescheduling the agreement proposed by EAD on account of deferred payments due to Covid-19.