The United Nations is working on a policy memo proposing debt relief for Pakistan by its creditors.

According to Daily “Financial Times” the UN Development Program will share the memo with Pakistan government.

The daily claims that the memo will urge Pakistan’s creditors to consider debt relief so that policymakers can prioritize financing its disaster response over loan repayment.

It may be recalled that devastating climate-induced floods affected some thirty-three million people and caused an estimated loss of thirty billion dollars.

In his address to the UN General Assembly, the UN secretary General, who visited flood-devastated areas, has made a fervent call to the world community to help Pakistan overcome this colossal tragedy.

The US President also told the General Assembly that Pakistan needs help.

Source: Radio Pakistan