Prime Minister Syed Yousaf Raza Gilani and PML N Chief Nawaz Sharif agreed to form an independent body to raise funds and assess damages caused by the floods, on Saturday.
This was announced by two leaders while addressing a joint press conference after a meeting in Islamabad.
Some of names who might be a part of the commission include Rana Bhagwandas, Fakhruddin G Ibrahim and Nasir Zahid.
The prime minister said that the federal government is still assessing the damage caused by the floods and Nawaz Sharif said that a formal announcement will be made about the commission in two or three days.
He said that the method of fund collection must be carried out in a transparent manner.
President Zardari in Nowshera
President Asif Ali Zardari has said rehabilitation of flood victims will have priority over development projects. He made the statement while visiting the flood hit area of Nowshera in Khyber Pakhtunkhwa.