Representational image. PHOTO: REUTERS
Secretary MoCC Naheed Shah Durrani had written a letter on the directives of the Prime Minister mentioning that the NDRMF was a not-for-profit company incorporated with the Securities and Exchange Commission of Pakistan, under Section 42 of Companies Act 2017, working under the administrative control of
Ministry of Climate Change.
“It is a government-owned, non-banking financial intermediary with a corporate structure which works for reducing the socioeconomic and fiscal vulnerability of the country and its population to natural hazards and climate change, through financing investments in disaster risk reduction and preparedness that have high economic impacts", the letter said.
The letter stated that Prime Minister Imran Khan had directed for conducting a special performance audit of all the funds granted to NDRMF since December 2016
To date, within two months, to improve the efficiency and transparency of the Fund, a ministry official told APP.
It may be mentioned here that NDRMF was the first government organisation to respond to National Disaster Management Authority and provided over eight billion rupees to the authority to contain Covid-19 risk in the country.
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