In Pakistan, old hopefuls jostle to turn around struggling economy
10 months, 2 weeks ago

In Pakistan, old hopefuls jostle to turn around struggling economy

Al Jazeera  

Pakistani voters head to the polls on Thursday amid a deep-seated economic crisis. Inflation, which reached nearly 30 percent in December, has been climbing since the start of last year after Pakistan’s central bank agreed to liberalise its exchange rate as part of a pre-existing IMF programme. “This will lower Pakistan’s current account deficit as goods from abroad will become more expensive, compressing import levels.” According to the State Bank of Pakistan, the country posted a balance of payments surplus of $397m last December. Krustins told Al Jazeera, “Pakistan’s goods imports fell by 27 percent in the last calendar year. ‘Structural issues’ Separately, Pakistan has long suffered from “structural issues”, says Tariq Banuri, professor of economics at the University of Utah.

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History of this topic

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes
2 months ago

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes

Live Mint  

Pakistan's finance minister expresses optimism over China's response to its request to lengthen maturities for debt involved in the Belt and Road Initiative. The country is seeking breathing room to lower electricity prices, which have been significantly higher in recent years. Pakistan has seen a period of stability after securing a new $7 billion loan program from the IMF, and …

Imran Khan warns of 'Parochialism' as pakistan faces economic collapse & terrorism
3 months, 3 weeks ago

Imran Khan warns of 'Parochialism' as pakistan faces economic collapse & terrorism

Firstpost  

Imran Khan has warned that Pakistan’s fragile economy, exacerbated by political instability and terrorism, risks falling into parochialism, hampering investment and national unity. Former prime minister Imran Khan has said that Pakistan is at risk of parochialism as political instability and terrorism have brought the economy to the verge of collapse. The 71-year-old Pakistan-Tehreek-e-Insaf: founder on Friday said the fragile …

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
4 months, 3 weeks ago

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms

Live Mint  

Pakistan has sought Chinese help to “reprofile” its debts with rollovers and maturity extensions to create more breathing room for economic reforms it’s seeking to enact under a new International Monetary Fund’s $7 billion loan program. Discussed with central bank officials during a recent visit to Beijing was a proposal to extend the maturity of debt for nine power plants …

Is Pakistan’s crisis-ridden economy finally recovering?
6 months, 1 week ago

Is Pakistan’s crisis-ridden economy finally recovering?

Al Jazeera  

Ahead of the country’s budget on Wednesday, inflation is down, forex reserves are up. Islamabad, Pakistan – The Pakistani government will present its annual budget on Wednesday, seeking to balance domestic commitments to the country’s 240 million people and demands of fiscal prudence from the International Monetary Fund – a key source of loans. Sharif recently travelled to Saudi Arabia, …

Pakistan: Business leaders suggest PM Shehbaz Sharif to forge trade ties with India
7 months, 4 weeks ago

Pakistan: Business leaders suggest PM Shehbaz Sharif to forge trade ties with India

Op India  

In a bid to navigate Pakistan’s economic challenges, Prime Minister Shehbaz Sharif convened with the business community, aiming to rejuvenate the economy through robust exports. Acknowledging the government’s efforts, Arif Habib, Chief of Arif Habib Group, commended recent developments, stating, “You have made a few handshakes after taking the charge that has produced good results and progress on the IMF …

Cash-Strapped Pakistan Turns to India for Help Amid Economic Crisis
8 months, 3 weeks ago

Cash-Strapped Pakistan Turns to India for Help Amid Economic Crisis

News 18  

Battered Economically and Isolated Globally, Pakistan Hopes for Trade Revival with India Trade between India and Pakistan has been at a near-complete standstill since 2019. Consequently, India stripped Pakistan of its “most favoured nation” status, effectively placing a 200 per cent duty on Pakistani imports. Five years later, a cash-strapped Pakistan has realised it punched way above its weight and …

Pakistan is out of friends and out of money
10 months ago

Pakistan is out of friends and out of money

Hindustan Times  

PAKISTAN’S ELECTION on February 8th featured state-of-the-art avatars and TikTok videos, but the question it poses evokes an old theme. Pakistan’s most popular politician, Imran Khan, a celebrity ex-cricketer turned rabble-rouser, was imprisoned on bogus charges at the army’s behest before the poll, even though he had at one time worked with the generals. China remains Pakistan’s “eternal friend” but …

Pakistan votes today amidst polarization, violence, and economic crisis
10 months, 2 weeks ago

Pakistan votes today amidst polarization, violence, and economic crisis

Live Mint  

Pakistan is set to vote for the their 12th general elections today. Meanwhile, cricketer-turned-politician Imran Khan, founder of Pakistan Tehreek-e-Insaaf and considered one of the most popular leaders in the country, is incarcerated in Adiala jail on multiple charges. Meanwhile, amid escalating political tensions and Pakistan's ongoing economic crisis, Nawaz Sharif aims to articulate his vision for addressing the multifaceted …

Pakistan’s election: Can the next government bring economic stability?
10 months, 2 weeks ago

Pakistan’s election: Can the next government bring economic stability?

Al Jazeera  

There will be no honeymoon period for winners of this week’s pivotal 2024 polls as economic challenges loom large. As the country found itself at a precarious juncture, then-Prime Minister Shehbaz Sharif managed to secure a crucial bailout package from the International Monetary Fund – its 23rd fund programme since 1958 – just weeks before the government’s term expired. ‘Anti-populist’ …

Pakistan's economic development model has failed, it benefits only the elites: World Bank
11 months, 3 weeks ago

Pakistan's economic development model has failed, it benefits only the elites: World Bank

Op India  

In the wake of the economic crisis in Pakistan, World Bank Country Director for Pakistan, Najy Benhassine said that Pakistan’s economic development is limited to the elite which resulted in the country lagging behind its fellow countries, Pak Vernacular media reported. The country director of the World Bank said that the focus of energy reform should be financial stability, better …

Pakistan's economic model is not working and benefits elite only, says World Bank.
11 months, 3 weeks ago

Pakistan's economic model is not working and benefits elite only, says World Bank.

Firstpost  

Cash-strapped Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet. Pakistan’s existing economic model is not working, a top World Bank official has said, adding that emphasising the …

Pakistan’s current economic model is not working: World Bank
11 months, 3 weeks ago

Pakistan’s current economic model is not working: World Bank

Hindustan Times  

Pakistan’s current economic model is not working, a top World Bank official has said, underlining that the cash-strapped nation must change policies that have plagued development and benefitted only a few. Pakistan’s current economic model is not working since it has fallen behind its peers, significant progress in poverty reduction has now started to reverse. Pakistan’s current economic model is …

75 years after independence, 40% Pakistanis live below poverty line
1 year, 3 months ago

75 years after independence, 40% Pakistanis live below poverty line

Live Mint  

As Pakistan grapples with an ongoing economic crisis, the World Bank has issued a stark warning: the country's current economic model is no longer effective in reducing poverty. Najy Banhassine, the World Bank’s Country Director for Pakistan, pointed out that the nation's policy decisions are heavily swayed by a coalition of strong vested interests. “It is also facing a ‘silent’ …

‘Pakistan’s economic model…’: World Bank warns as 95 mn fall below poverty line
1 year, 3 months ago

‘Pakistan’s economic model…’: World Bank warns as 95 mn fall below poverty line

Live Mint  

Pakistan's financial woes prompted an urgent warning from the World Bank on Friday as millions more fell below the poverty line. “Pakistan’s economic model is no longer reducing poverty, and the living standards have fallen behind peer countries,” said Tobias Haque – the World Bank’s lead country economist for Pakistan. According to the latest draft policy notes unveiled by the …

Pakistan army steps in to repair tattered economy, experts say it's likely to fail
1 year, 3 months ago

Pakistan army steps in to repair tattered economy, experts say it's likely to fail

India Today  

In a desperate attempt, Pakistan's military leadership has stepped in to tackle the economic crisis, which is fuelling protests across the Islamic nation. Pakistan's army chief General Asim Munir on Saturday held a series of meetings with 50 prominent businessmen after protests by traders over soaring prices. Asad Sayeed said Pakistan should stop chasing “magic bullets” to fix its economy. …

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 4 months ago

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China

The Hindu  

Published : Aug 10, 2023 11:00 IST - 6 MINS READ On July 14, the shaky government of a debt-stressed Pakistan won itself a surprising reprieve from the IMF. Pakistan’s government has also succeeded in getting fund flows from “friendly” nations—$3.7 billion from bilateral partners such as Saudi Arabia and the UAE—and a roll-over of around $4 billion in loan …

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 4 months ago

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years

Associated Press  

ISLAMABAD — Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. The latest extension in loan maturities by Beijing was a boost to Pakistan’s fragile foreign exchange reserves, which are still only enough …

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF
1 year, 5 months ago

Pakistan facing "exceptionally high" economic risks, external debt to mount: IMF

India Today  

An assessment from the International Monetary Fund has said that Pakistan's economic challenges were complex and multifaceted and risks were exceptionally high, The Dawn reported. “Resolving Pakistan's structural challenges, including long-term BOP pressures, will require continued adjustment and creditor support beyond the current programme period,” the Fund said in a report. “A possible successor arrangement could help anchor the policy …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 5 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

Pakistan’s economy to grow by 2% in the next fiscal year, says World Bank
1 year, 6 months ago

Pakistan’s economy to grow by 2% in the next fiscal year, says World Bank

The Hindu  

The World Bank has projected Pakistan’s economy to grow by 2% in the next fiscal year, much lower than the 3.5% target set by the National Economic Council, the country's top economic body, saying the lasting effects of the August 2022 floods, along with policy uncertainty and limited foreign exchange resources have depressed activity in the country. “In Pakistan, the …

Number theory: Why Pakistan's current account surplus may spell bad news for the economy
1 year, 6 months ago

Number theory: Why Pakistan's current account surplus may spell bad news for the economy

Hindustan Times  

Pakistan recorded a surplus in its current account for the second consecutive month in April, as per the data released by the State Bank of Pakistan on May 17, shrinking the ongoing fiscal year’s current account deficit by a massive 76% to $3.3 billion in July-April compared to the same period last year. See Chart 1: Revisions in IMF projections …

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy
1 year, 6 months ago

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy

Op India  

On Friday, May 26, Shehbaz Sharif, Pakistan’s prime minister, stated that an agreement with the International Monetary Fund has not been reached, but that China’s backing will be critical in keeping the country from default. PM Sharif stated in his address to industrialists and businesses in Karachi that Pakistan has ‘successfully fulfilled all of the rigorous conditions imposed by the …

China's 'mysterious' debt rules pushing world's poorest countries including Pakistan to brink of collapse
1 year, 7 months ago

China's 'mysterious' debt rules pushing world's poorest countries including Pakistan to brink of collapse

India TV News  

Chinese debt trap: Sri Lanka, Pakistan, Kenya, Zambia and a dozen poor countries are facing economic instability and even collapse as they had once taken loans from China. Pakistan is on the verge of becoming Sri Lanka Countries in AP’s analysis had as much as 50% of their foreign loans from China and most were devoting more than a third …

Pakistanis reeling under skyrocketing inflation as cash-strapped government struggles to stabilise economy
1 year, 8 months ago

Pakistanis reeling under skyrocketing inflation as cash-strapped government struggles to stabilise economy

The Hindu  

Nazim Malik pulled out his children from a private English-medium school and enrolled them in a government-run Urdu school because he can no longer afford their fees amid the spiralling inflation that has made life miserable for most Pakistanis who are now worried about two meals a day for their families. Cash-strapped Pakistan's economy has been in a free fall …

From the India Today archives (2023) | Pakistan's fast emptying coffers
1 year, 8 months ago

From the India Today archives (2023) | Pakistan's fast emptying coffers

India Today  

We have never defaulted in the past and we won't default now," asserted Pakistan's federal minister for finance Ishaq Dar on March 3, looking irritated at the persistent questions journalists were lobbing at him at a press conference. His irritation stemmed from ongoing speculation about the country's crisis-wracked economy; the latest blow dealt by credit ratings agency Moody's, which had …

Pakistan is Irrelevant to India’s Rise - News18
1 year, 8 months ago

Pakistan is Irrelevant to India’s Rise - News18

News 18  

The Pakistan economy is caught in a death spiral, coming out of which is no longer possible with the traditional tools of living on the dole from ‘friendly’ countries like China, Saudi Arabia and the United Arab Emirates. The good news for Pakistan is that some Pakistanis – a few sensible ones – have increasingly been talking of the need …

Crisis after Crisis: Political Instability, Failing Economy, Terrorism Haunt Pak Since Regime Change
1 year, 8 months ago

Crisis after Crisis: Political Instability, Failing Economy, Terrorism Haunt Pak Since Regime Change

News 18  

Following Imran Khan’s exit in 2022 via a no-confidence vote, Pakistan has been mired in several crises under the Shehbaz Sharif-led Pakistan Democratic Movement’s coalition government. Here are the main six crises that are haunting Pakistan: Political Crisis: When the PDM combine submitted the no-confidence motion against former Pakistan prime minister Imran Khan, it triggered a political crisis. The protest …

Pakistan’s perfect storm: An economic crisis meets a political one
1 year, 9 months ago

Pakistan’s perfect storm: An economic crisis meets a political one

Hindustan Times  

Pakistan’s news cycle has shifted from bailout negotiations with the IMF to pitched battles between former prime minister Imran Khan’s supporters and security forces. See Chart 2: Monthly inflation in Pakistan Imran Khan outside power is far more popular than Imran Khan in power Data from Gallup Pakistan, an affiliate of a global survey research agency, shows that Imran Khan …

US encourages crisis-hit Pakistan to continue working with IMF - here’s why
1 year, 9 months ago

US encourages crisis-hit Pakistan to continue working with IMF - here’s why

Live Mint  

The United States on Thursday urges crisis-hit Pakistan to improve its business environment which would make the South Asian country more attractive and competitive around the world. As per the latest report, the country's external debt rose sharply by 38% to PKR 20.69 trillion by the end of January 2023 as compared to the year-ago period. The pkrevenue report mentioned …

Pak’s economy in ’shambles’; China is lending a hand
1 year, 9 months ago

Pak’s economy in ’shambles’; China is lending a hand

Live Mint  

Pakistan's external foreign debt amounts to $126 billion, out of which $30 billion is held by China, according to the International Monetary Fund data. This amount is three times larger than Pakistan's IMF debt of $7.8 billion and exceeds its borrowings from the World Bank and Asian Development Bank altogether. According to a 2019 study by the Jang Group and …

The fall and fall of Pakistan
1 year, 9 months ago

The fall and fall of Pakistan

New Indian Express  

How it all came tumbling down 1958-68: General Ayub’s non-liberal policies of the capitalist model increases income inequality 1970s: During Zulfiqar Ali Bhutto’s reign, there was a recession in exports, the partition of East Pakistan, the floods of 1974 and locust attacks. His nationalisation policies became the major reason for the loss of industrial units and private investment 1998: Pakistan …

Will crisis-hit Pakistan be able to prevent looming recession?
1 year, 9 months ago

Will crisis-hit Pakistan be able to prevent looming recession?

Live Mint  

The current economic situation of Pakistan has raised the question of whether the cash-strapped country can control mass protests as the cost of living is becoming intolerable for its citizens due to rising inflation, reported Asian Lite International. The current account deficit of the crisis-hit country shrank 90.2% to USD 0.24 billion in January from USD 2.47 billion in the …

Explained: How Pakistan is following Sri Lanka's footsteps in China's debt trap
1 year, 10 months ago

Explained: How Pakistan is following Sri Lanka's footsteps in China's debt trap

Firstpost  

China, which is Pakistan’s single-largest creditor — owning 30 per cent of its total external debt — is set to grant a $700 million loan through its China Development Bank. The loan, which Beijing will grant through its China Development Bank is set to boost Pakistan’s forex reserves by 20 per cent. Let’s take a closer look at how this …

High taxes, cost-cutting formula: How Pakistan is dealing with economic crisis?
1 year, 10 months ago

High taxes, cost-cutting formula: How Pakistan is dealing with economic crisis?

Live Mint  

Pakistan has been spiraling into a deep economic crisis as the country's rupee is falling down, fuel prices shooting up, and taxes on luxury goods rising. Pakistan's cost-cutting formula Pakistan Prime Minister Shehbaz Sharif has asked his ministers and advisers to fly economy class, forgo luxury cars and their salaries as part of an austerity drive that will save the …

ECONOMIC PERSPECTIVES | Pakistan likely to go the Sri Lanka way, default on external debt payments
1 year, 10 months ago

ECONOMIC PERSPECTIVES | Pakistan likely to go the Sri Lanka way, default on external debt payments

The Hindu  

Published : Feb 23, 2023 10:40 IST Across the world, many lower- and middle-income countries are struggling with balance of payments difficulties that are undermining their ability to service their external debt. “The policies the IMF prescribes when it is approached for balance of payments support in situations of stress contribute to worsening the situation in “assisted” countries. That release, …

Pakistan taxing its citizens for IMF deal: 7% surge in tax, luxury goods costly
1 year, 10 months ago

Pakistan taxing its citizens for IMF deal: 7% surge in tax, luxury goods costly

Live Mint  

Pakistan is facing an imminent economic meltdown with the country modifying its policies according to the conditions laid down by the International Monetary Fund, in an effort to unlock the tranche of a $6.5 billion loan facility to overcome the financial crisis. Kristalina Georgieva, IMF Managing Director has also emphasized two things that can help Pakistan get away from economic …

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows
1 year, 10 months ago

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows

India TV News  

Pakistan's economic crisis: China which holds Islamabad’s largest debt on Monday said it backed measures taken by its "all-weather friend" Pakistan to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan at the verge of default Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion in January from USD 2.47 billion …

Pakistan's current account deficit decreases as imports grind to near standstill
1 year, 10 months ago

Pakistan's current account deficit decreases as imports grind to near standstill

Firstpost  

Karachi: Pakistan’s current account deficit dropped to $0.2 billion in January 2023, down 90% from last year as the rupee’s depreciation slowed down imports, the central bank said on Monday. In less than a month, cash-strapped Pakistan’s currency has lost more than a quarter of its value against the US dollar after the removal of artificial caps, and fuel prices …

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls
1 year, 10 months ago

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls

Live Mint  

Pakistan economic crisis: Several biggest companies in the crisis-hit country have halted operations as they ran out of raw materials or foreign exchange which has compounded the troubles of an economy that's trying to avert a debt default, as per Bloomberg reports. Ghandhara Tyre & Rubber Company, which manufactures tires and tubes for automobiles, shut its plant on February 13, …

Pakistan economic crisis: Tax hikes may surge inflation, check food prices here
1 year, 10 months ago

Pakistan economic crisis: Tax hikes may surge inflation, check food prices here

Live Mint  

Pakistan has been struggling with a huge economic crisis after its forex reserve has fallen down. This comes after the International Monetary Fund delayed the release of a crucial $1.1 billion portion of a 2019 deal worth $6 billion, on hold since December over Pakistan's failure to meet the terms. Ehtisham-ul-Haq, a veteran economist said, “The imposition of more taxes …

Data | Why is Pakistan’s economy collapsing? Explained in charts
1 year, 10 months ago

Data | Why is Pakistan’s economy collapsing? Explained in charts

The Hindu  

Pakistan’s economy is on the brink of collapse. Foreign exchange reserves with the State Bank of Pakistan dipped to $3.08 billion in the week ending January 27, 2023. Chart 3 shows the week-wise foreign exchange reserves held by Pakistan’s central bank. Chart 6 shows financial year-wise Pakistan’s total debt and liabilities in billion PKR. Source: State Bank of Pakistan, Economic …

Pakistan inflation rises to 48-year high as IMF visits
1 year, 10 months ago

Pakistan inflation rises to 48-year high as IMF visits

The Hindu  

Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the country's statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55%, the highest since May 1975, with thousands of containers of imports held up at Karachi port. On Tuesday, an IMF …

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt
1 year, 10 months ago

Pakistan economic crisis: Military, political leadership cut sorry figures as Islamabad drowns in debt

Firstpost  

There is a very real possibility that Pakistan could fall, and fall badly. A mountain of debt – the figures Pakistan’s tumultuous history has seen it hovering on the brink of crisis several times, but this is the first time it’s slipping into possible default. Pakistan is already allotted Rs3.5-Rs3.9 trillion – i.e 4.5 per cent-5.0 per cent of GDP …

Cash-strapped Pakistan's rupee plunges amid talks with IMF
1 year, 10 months ago

Cash-strapped Pakistan's rupee plunges amid talks with IMF

The Hindu  

Cash-strapped Pakistan’s currency plunged Thursday against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund for the next tranche of its bailout package. Pakistan is seeking a crucial installment of $1.1 billion from the fund — part of its $6 billion bailout package — to avoid default. The rupee's …

Pakistan staring at loan default, economic collapse
1 year, 10 months ago

Pakistan staring at loan default, economic collapse

Hindustan Times  

Pakistan’s media has taken external affairs minister Subrahmanyam Jaishankar’s invite to his counterpart Bilawal Zardari for the Shanghai Cooperation Organization foreign ministers meeting in May as a sign of thaw with India post PM Shehbaz Sharif’s offer of dialogue with India, facts on ground are to the contrary. Even though the votaries of India-Pak dialogue and the conflict resolution industry …

Bankrupt Pakistan on verge of starvation as IMF delays loan
1 year, 11 months ago

Bankrupt Pakistan on verge of starvation as IMF delays loan

Firstpost  

The IMF had termed Pakistan as the weakest economy in South Asia. According to the World Bank’s Global Economic Prospects report, Pakistan’s economic growth rate this year will be only 1.7% Islamabad: The current economic situation of Pakistan is getting worse with each passing day. According to a report by Al Arabiya Post, if the International Monetary Fund program is …

World Bank cuts Pakistan’s GDP growth projection to 2 percent
1 year, 11 months ago

World Bank cuts Pakistan’s GDP growth projection to 2 percent

Al Jazeera  

Islamabad, Pakistan – Predicting a difficult year ahead for Pakistan, the World Bank has revised the country’s growth projections from 4 percent in June last year to 2 percent for the current fiscal year, citing “precarious economic situation, low foreign exchange reserves and large fiscal and current account deficits” among the primary reasons. The bank, in its Global Economic Prospects …

Pakistan has been 'doubly victimised' by…: What UN chief said
1 year, 11 months ago

Pakistan has been 'doubly victimised' by…: What UN chief said

Hindustan Times  

United Nations secretary general Antonio Guterres called for support for Pakistan in its rebuilding efforts following devastating floods in the country last year. UN Chief On Pakistan: United Nations Secretary General Antonio Guterres and Pakistan's Prime Minister Shehbaz Sharif attend a summit. The UN chief also said that Pakistan has been "doubly victimised" by climate chaos and a global financial …

Pakistani finance minister estimates 'close to three years' for recovery from devastating floods
2 years, 2 months ago

Pakistani finance minister estimates 'close to three years' for recovery from devastating floods

Firstpost  

Ishaq Dar said that losses from the floods were estimated to surpass $32 billion and that the cost of rebuilding damaged infrastructure will exceed $16 billion Washington: Pakistan’s new finance minister estimated that it could take “close to three years’’ for the south Asian country to recover from devastating floods that killed more than 1,700 people and displaced another 7.9 …

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