Pakistan seeks ADB help for setting up natural disaster fund for risk reduction, mitigation

There is a need for establishing a natural disaster fund for disaster risk reduction, mitigation and rehabilitation, said Pakistan's Federal Minister for Planning, Development and Special Initiatives Asad Umar during discussions with newly appointed Asian Development Bank (ADB) Country Director for Pakistan Yong Ye.

He sought cooperation in setting up a risk management unit for public-private partnership (PPP) ventures with the help of ADB, the Express Tribune reported.

Meanwhile, ADB is set to provide USD 6 billion over a three-year period to the country in view of testing time for Pakistan's economy.

Last month, Pakistan Muslim League-Nawaz (PML-N) President and Leader of Opposition Shehbaz Sharif had slammed the Pakistan Tehreek-e-Insaf (PTI) government saying that the ruling party has drowned the country's economy under debts.

He also lashed out at the Imran Khan government over the "unprecedented level" of inflation in the country and added that during its three-year tenure, it did not build a "single penny" project, The Express Tribune reported.

"Five million people have been rendered unemployed by the incumbent government, it has become impossible for the poor to afford two square meals a day," Shehbaz Sharif had said while addressing a National Assembly session in Islamabad.

( With inputs from ANI )

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