ISLAMABAD: Pakistan has received $10.9 billion from international development partners out of the $30 billion total estimated loss for post-flood reconstruction work, leaving a $19.1 billion shortfall that has halted the rehabilitation of flood-affected communities in three provinces. The updates were shared with the Policy and Strategy Committee (PSC) and the Oversight Board on Post-Flood Reconstruction Activities chaired by Federal Planning Minister Ahsan Iqbal on Monday. Country directors of the World Bank and Asian Development Bank, the UN Resident Coordinator, the UNDP Resident Representative and the Deputy Head of Mission of the EU also attended it. The estimated loss of the 2022 floods…
Author: Hasnain Abid Khanzada
GENEVA: A new World Trade Organisation (WTO) report has stated that global commerce has played a critical role in reducing extreme poverty from 40pc to 11pc. Global trade has created “shared prosperity” since the WTO was created in 1995, the report said, while calling for supportive policies to “mainstream more economies” and people across the globe. The World Trade Report 2024, released on Monday, said the world had witnessed a period of unprecedented income growth. “Between 1995 and 2023, global per capita income, adjusted for inflation, increased by approximately 65 per cent, while the per capita income of low-and middle-income economies…
KARACHI: Overseas Pakistanis sent 44 per cent more remittances in the first two months (July and August) of the current fiscal year (FY25), compared to the same period of the previous fiscal year. In July, remittances went up by 48 per cent year-on-year, setting a trend of higher inflows. The receipts for July were $2.994 billion, but it dipped to $2.942bn in August. According to data issued by the State Bank on Monday, the inflows during July-Aug FY25 rose to $5.936bn, while inflows in the same period of previous fiscal year FY24 was $4.123bn — an increase of $1.813bn, or…
ISLAMABAD: Punjab’s unplanned power subsidies have emerged as the second most significant impediment to Pakistan’s much-anticipated $7 billion bailout from the Intentional Monetary Fund (IMF). In July, Pakistan reached a Staff-Level Agreement (SLA) for a new 37-month $7bn Extended Fund Facility. However, the agreement will take effect following the IMF Executive Board meeting, which has yet to be placed on its schedule despite having held two meetings. At the sidelines of the weekly seminar, the executive director of the Sustainable Development Policy Institute (SDPI), Dr Abid Suleri, said that the government should take the IMF into confidence over power subsidies announced at the…
Chinese tech giant Huawei on Tuesday unveiled its new smartphone, billed as the world’s first trifold phone, hours after US competitor Apple lifted the curtain on its new iPhone built for AI. The Mate XT was officially launched in a keynote presentation by Huawei executive Richard Yu at the firm’s headquarters in the southern city of Shenzhen. Originally designed as a premium phone for a niche audience, over three million people registered interest in buying the Mate XT ahead of its launch. The gadget officially goes on sale on September 20, with prices beginning at an eye-watering $2,800 — over…
ISLAMABAD: The number of out-of-school children in Pakistan remains above 26 million, according to the Ministry of Federal Education and Professional Training. This figure persists despite several government efforts and commitments to address the issue. In a written response to the National Assembly, Education Minister Khalid Maqbool Siddiqui revealed that the data from the 2021-22 period shows there are 26.20 million out-of-school children in the country. The breakdown includes approximately 10.77 million children aged 5-9, 4.94 million aged 10-12, and 4.5 million aged 13-14. Additionally, about 5.95 million students aged 13-16 are missing higher secondary education. In response to questions…
BAJAUR/MOHMAND/KOHAT: Tribesmen in Bajaur, Mohmand, and Kohat districts have announced boycotts of the ongoing anti-polio campaign due to delays in local road construction projects. In Bajaur, residents of Enzari in Khar tehsil halted the anti-polio drive, citing the delay in completing the Lowi Sam-Anbar road. The construction, which began three years ago, has been stalled for the past two years. Protesters blocked the road and claimed that despite notifying officials and lawmakers, no progress had been made. Local health officials confirmed that some Enzari residents refused to let polio teams vaccinate their children. Efforts are ongoing to address the issue…
ISLAMABAD / LAHORE: Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur’s recent remarks about media, women, and the Punjab Chief Minister faced widespread condemnation on Monday, prompting PTI Chairman Barrister Gohar Ali Khan to issue an unconditional apology for the language used by Gandapur at a public meeting the previous day. Following a walkout by reporters at the National Assembly, Barrister Gohar apologized on the floor of the house after meeting with the protesting journalists. He emphasized that despite the usual good relations between PTI and journalists, the language used by Gandapur was inappropriate, and the party extends its apologies. Gandapur…
KARACHI: A judicial magistrate has rejected the post-arrest bail application of Natasha Danish, a suspect involved in a traffic accident and drug case. The decision was made by Judicial Magistrate (East) Muhammad Raza Ansari, who dismissed Danish’s bail plea on Monday. Danish, who had previously been granted bail in the main case by a sessions court, remained in custody due to a separate drug-related charge. According to police, Danish was allegedly under the influence of methamphetamine (crystal meth/ice) when she was driving an SUV on August 19, leading to a fatal accident. In his detailed order, Magistrate Ansari expressed disapproval…
ISLAMABAD: Pakistan remains high on the global risk scale, ranking among the countries with the highest exposure to conflict and disaster risk, according to the World Risk Index 2024 report released on Monday. This year, Pakistan has moved up to replace China among the top three countries for conflict exposure, following last year’s shift when Russia edged out Pakistan from the top 10. The index also highlights changes in disaster risk rankings, with Mexico and Colombia swapping positions. Afghanistan has rejoined the list of the top 10 most vulnerable countries, which was previously composed solely of African nations. The report…
