ISLAMABAD, Pakistan: The President of the Asian Development Bank (ADB) Takehiko Nakao has said that recent floods have affected Pakistan’s economy and assured complete cooperation of the bank for the rehabilitation of the affectees.
In a news conference along with the federal finance minister Ishaq Dar in Islamabad on Wednesday, the ADB president said that Pakistan has improved its macroeconomic performance in the past year by reducing the fiscal deficit, keeping inflation to a manageable level and rebuilding foreign exchange reserves.
The finance minister said that the government would carry out relief work for both the internally displaced persons (IDPs) of North Waziristan and flood affected people through its own resources.
The minister said that the government would seek assistance of donors and friendly countries for the rehabilitation of the flood affected people and the IDPs.
Ishaq Dar said that the federal and provincial governments are paying the cost of relief for flood affected people but the rehabilitation phase would require huge funds. He said that there are already encouraging signals from countries like Japan, Saudi Arabia and Turkey.
In addition, he said that the government has decided to construct both Diamer Bhasha and Dassu Dams as the country cannot afford to further delay them.