Bank Alfalah, the biggest corporate donor for the flood-affected communities, has partnered with Karachi Relief Trust (KRT) to fund the construction of low-cost sustainable housing for PKR 50 million. Bank Alfalah came to the forefront with a strategic plan for redeveloping communities in a viable, equitable and financially inclusive way.
The collaboration with KRT is focused on providing cost-effective housing solutions in the regions affected by floods. Through this association with Bank Alfalah, KRT intends to reconstruct two clusters of villages that were ravaged by the floods. The two clusters will consist of 70 homes each, with an estimated cost of PKR 350,000 per house.
The signing of the agreement took place at Bank Alfalah’s Karachi Head Office, with the presence of its top leadership and senior management, including Atif Bajwa- President and CEO, Faisal Farooq Khan- Chief Human Resource Officer, Adnan Asdar-Founder and Trustee and Khayam Husain from KRT, among other notables. The donated amount to KRT will facilitate the rebuilding of infrastructure in the medium to long term, aiding the affected areas in returning to normalcy. Bank Alfalah recognizes the importance of sustainable redevelopment following a disaster of this magnitude, not just for rehabilitation and reconstruction purposes but also to prevent and mitigate any future impact of such floods.
Atif Bajwa, President and CEO of Bank Alfalah, spoke on occasion and expressed his commitment to supporting this initiative.
“Bank Alfalah is leading from the front by collaborating with esteemed charities such as the KRT to rebuild the lives of flood-impacted communities for a successful way forward. In the event of an unparalleled disaster, it is imperative that all individuals and organizations unite to offer continuous support to those affected. Through our collective efforts to contribute towards sustainable housing, numerous impacted communities will return to normalcy, resume their journey, and realize their potential for a brighter future.”
“The partnership enables us to sow the seeds of change through our program ‘Reimagine: Build Back Better.’ Together with Bank Alfalah, we can have a significant impact on the lives of flood affected families. We are proud to have Bank Alfalah as our partner in this effort.” said Khayam Husain, Trustee of KRT.
Bank Alfalah collaboration has been part of the two-pronged approach, which includes 1) Rescue and Relief and 2) Rebuilding and Rehabilitation. In 2022, during the first phase, KRT and the Bank joined hands to provide relief worth PKR 25 million, including ration distribution, winter jackets and tents in flood-affected districts of Sindh and Balochistan.