ISLAMABAD: The Finance Division has established a non-lapsable ‘Ehsaas Donation Fund’ to collect public donations to support Ehsaas initiatives.

The Fund has been established under the Public Account of the Federation, according to a Finance Division letter written to the auditor general of Pakistan as well as controller general of accounts and accountant general of Pakistan, a non-lapsable fund – Ehsaas donation Fund 2021 – is established.

The Fund is established in pursuance of Poverty Alleviation and Social Safety Division letter.

Public donations will be collected in the Fund to support Ehsaas initiatives.

All proceeds on account of “Fund” will be received over the counter (OTC) at any branch of all the commercial banks operating in Pakistan and through digital banking channels i.e. branchless agents, ADCs, credit and debit cards etc from both international and domestic donors for which necessary instructions shall be issued by the State Bank of Pakistan (SBP).

The cash balance of the Fund will be kept separate and independent of the cash balance of the Central Account No 1 and reported to the federal government accordingly.

Public money forming part of the Federal Consolidated Fund will not be deposited/transferred to the Fund without approval of the federal government in terms of Section 32 of the Public Finance Management Act, 2019 (Amended).

Copyright Business Recorder, 2021