ISLAMABAD - Federal Minister for Finance and Economic Affairs, Abdul Hafiz Shaikh on Thursday said that Pakistan Development Forum (PDF) is not aid pledging forum, as it would only cover protection of the poor and vision and strategies about the post-flood economic and social development. PDF is misunderstood as a pledging forum for donors, however, it is actually an opportunity for the government to chart out its future economic and social strategy and have dialogue with the donors, finance minister said while addressing the Curtain Raising Ceremony of PDF here on Thursday. As a result of this dialogue, donors often realign their strategies plan and deliver future economic assistance to Pakistan, he added. Flanked with Federal Minister for Information and Broadcasting Qamar Zaman Kaira and State Minister for Finance and Economic Affairs, Hina Rabbani Khar, Shaikh further said that PDF is a forum for comprehensive development dialogue between the government and its partners. It was held on annual basis before 2007, however PDF two-day meeting would hold on 14th and 15th of this month here Islamabad, he added. PDF will cover flood damages, need assessment and reconstruction, state of the economy-challenges and response, growth and sectoral reform and aid effectiveness, Shaikh further added. We would try to find the ways to produce employment and investment opportunities in the PDF meeting. On a question regarding corruption in aid distribution, he said, It is the big challenge for the government so there can be some problems regarding corruption and mismanagement in it. He was of the view that some countries do not want to give us aid by making corruption as an excuse, however, there was no reality in it, as we make the whole process so transparent, he added. Talking about Damage Need Assessment (DNA) report, the minister said that it revealed that country faced $ 10 billion losses due to the floods. We need Rs 160 billion for the rehabilitation and reconstruction of flood-hit areas, he said and added that government is imposing new taxes and reallocating its budgetary allocations for it. Due to additional taxation measures, we would generate Rs 45 billion. International Monetary Fund (IMF) will soon disburse the 6th tranche under Standby Loan Agreement, he replied to a query. He was of the view that loans could not be waived off. He further said that delegates from 30 countries and five organizations are expected to attend the PDF 2010, meanwhile 264 representatives from overseas or their local missions have confirmed participation. Qamar Zaman Kaira said that we would have to generate our own resources instead of taking loans. He was of the view that there was no shortage of sugar in the country, as prices went up on temporary basis.