ISLAMABAD: The Ministry of Finance on Thursday opened an account under the title of “DIAMER-BHASHA AND MOHMAND DAM FUND –2018”.

The account was opened in pursuance of Wednesday’s order of the Supreme Court to the federal government, Wapda and the executive authority to take effective measures in light of unanimous decisions of the Council of Common Interests (CCI) to develop the 4,500MW Bhasha dam and 700MW Mohmand dam, says a short order, the detailed reasons of which will be given later.

The account will bear Account No.03-593-299999-001-4 and IBN No.PK06SBPP0035932999990014 for raising funds for the construction of the two dams.

On Thursday, Chief Justice of Pakistan Mian Saqib Nisar formally deposited Rs1 million as a donation in the account from his personal account.

An SC announcement says that payments in the fund will be received at all branches of the State Bank of Pakistan, all treasuries and branches of the National Bank of Pakistan and all other scheduled banks.

Chief Justice deposits Rs1 million in the account

The fund may receive donations from both domestic and international donors and contributions from abroad which will be received at all branches of these banks where such branches exist.

In other foreign countries contributions will be received at the Pakistan Missions and remitted to the State Bank of Pakistan which would prescribe necessary accounting procedure.

On Wednesday, the Supreme Court, while making an appeal to people for generous contribution to the fund, had assured the nation that the money so generated could be used only for construction and establishment of dams and for the time being the fund will be operated under the orders of the Supreme Court on the recommendations of an implementation committee which was constituted on Wednesday.

The order also made it clear that the funds in this account would not, under any circumstance or for any reason, be diverted or utilised for any other purpose than the construction of the dams.

And for avoidance of doubt the court directed that no questions would be asked by any authority or department, including tax authorities, relating to the source of funds contributed to the account, but the utilisation of the funds would be subject to audit as per directions of the apex court.

Published in Dawn, July 06th, 2018