Pakistan says smog to persist in Punjab’s plain areas throughout November and December

Pakistan says smog to persist in Punjab’s plain areas throughout November and December
Women and children wait to cross a road engulfed in smog in Lahore on November 12, 2024. (AFP)
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Updated 12 November 2024
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Pakistan says smog to persist in Punjab’s plain areas throughout November and December

Pakistan says smog to persist in Punjab’s plain areas throughout November and December
  • Toxic smog has shrouded Pakistan’s cultural capital Lahore and 17 other districts in Punjab since last month
  • Punjab has closed schools, banned entry of heavy transport vehicles on specific days in Lahore amid smog crisis

ISLAMABAD: The National Disaster Management Authority (NDMA) on Tuesday said smog conditions in Pakistan’s eastern Punjab province are expected to persist throughout November and December, advising citizens to take precautions to protect themselves from air pollution. 
Toxic smog has shrouded Pakistan’s cultural capital of Lahore and 17 other districts in Punjab since last month. Health officials say more than 40,000 people have been treated for respiratory ailments forcing Punjab to close schools until Nov. 17 to protect children’s health. The UN children’s agency has warned that the health of 11 million children in Punjab is in danger due to air pollution. 
South Asia, particularly India and Pakistan, is shrouded in intense pollution every winter as cold air traps emissions, dust, and smoke from farm fires. Pollution could cut more than five years from people’s life expectancy in the region, a study found last year.
In its latest advisory, the NDMA said it has been monitoring the smog situation in Pakistan and its surrounding areas via state-of-the-art ground-based and space-based monitoring tools.
“It is anticipated that smog conditions will persist throughout November and December in the plains of Punjab,” the NDMA said. “Urban centers such as Lahore, Faisalabad, Multan, Bahawalpur, Peshawar, Mardan, and Nowshera are expected to experience smog during these months.”
The disaster management agency said it used its monitoring tools to analyze and project emissions from the industry, transportation and agriculture sectors. 
“This includes emissions from stubble burning, volatile organic compounds, and nitrogen oxides, as well as surface-level ozone and particulate matter like PM10 and PM2.5,” the NDMA added. “Using information on aerosol optical depth, our team is identifying hotspots significantly affected by smog.”
Seasonal crop burn-off by farmers on the outskirts of Lahore also contributed to toxic air, which the World Health Organization says can cause strokes, heart disease, lung cancer and respiratory diseases.
The NDMA urged people to avoid stepping outdoors during smog peak hours in the morning, wear masks during outdoor activities, stay hydrated and use dehumidifiers. 
Last month, Punjab identified four hotspots in the city where it imposed restrictions. These included banning auto rickshaws with polluting two-stroke engines, along with restaurants that operate barbecues without filters.
Last Friday, Pakistani authorities ordered the closure of all parks and museums for 10 days, urging people to avoid unnecessary travel.


IMF delegation in Pakistan, discusses ‘key benchmarks’ of $7 billion loan program — official 

IMF delegation in Pakistan, discusses ‘key benchmarks’ of $7 billion loan program — official 
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IMF delegation in Pakistan, discusses ‘key benchmarks’ of $7 billion loan program — official 

IMF delegation in Pakistan, discusses ‘key benchmarks’ of $7 billion loan program — official 
  • IMF has said Porter’s visit is not part of the first review of loan program
  • First review not scheduled to take place before the first quarter of 2025

ISLAMABAD: An International Monetary Fund (IMF) delegation is in Islamabad this week and will hold discussions with top Pakistani officials on the “key benchmarks” of a $7 billion loan program approved in September, a finance ministry official said on Tuesday.

The IMF delegation led by Pakistan mission chief Nathan Porter arrived in Islamabad on Monday on an unplanned visit. The team is expected to hold meetings until Friday with top officials from ministries such as finance and energy and the Federal Board of Revenue, the main tax collection agency, to collect data on “loan program performance to date,” a finance ministry official told Arab News, seeking anonymity. 

The IMF has said Porter’s visit is not part of the first review of the loan program, which is not scheduled to take place before the first quarter of 2025. 

“Some key benchmarks of the loan program will come under discussion during the meetings, as Islamabad faces some revenue shortfall and a recent botched attempt to privatize the Pakistan International Airlines,” the finance ministry official said. 

“Matters like external financing gap and reforms in the energy sector are also expected to be discussed with the IMF delegation.”

The IMF reached a staff-level agreement with Pakistan in July for a 37-month $7 billion bailout package, which the Fund’s Executive Board approved in September. This was the 25th loan program that Pakistan has obtained since 1958.

In a statement released on Tuesday, the ministry of finance said a delegation led by Porter had an “initial meeting” with finance minister Muhammad Aurangzeb.

Minister of State for Finance Ali Pervez Malik, Governor State Bank Jameel Ahmed, Federal Board of Revenue Chairman Rashid Mahmood Langrial and senior finance ministry officials were also present in the meeting, the ministry said.

Islamabad secured the bailout loan, critical to keeping its $350 billion fragile economy afloat, after taking painful measures such as hiking fuel and food prices and implementing reforms to broaden the country’s tax base and privatize state-owned entities.

“INTERIM CHECKS”

Pakistan’s macroeconomic conditions and investor sentiment have improved in recent months, which analysts say has led to a bullish trend in the country’s stock market.

Syed Atif Zafar, the chief economist at Topline Securities, said the IMF delegation’s meetings with Pakistani officials were part of “interim checks” to ensure a successful review of the loan facility next year. 

“The government failed to achieve the tax revenue target in the first quarter that has perhaps necessitated this IMF visit, but still the authorities have multiple options and time to overcome this gap,” he told Arab News. 

“The good thing at this point is that all structural and quantitative benchmarks of the loan program are on track.”

Tahir Abbas, a senior economist and head of research at Arif Habib Limited, said Pakistan last month requested the IMF for a $1 billion climate financing facility to mitigate climate risk, which would be discussed during the ongoing IMF visit.

“Pakistan’s revenue shortfall of around Rs200 billion ($720 million) in the first quarter has mainly necessitated this IMF visit,” he told Arab News. 

“The finance ministry will now inform the IMF delegation about the possible revenue measures to overcome the shortfall and cut the expenditures.”


After primary schools, Pakistan’s Punjab closes high schools as smog crisis deepens

After primary schools, Pakistan’s Punjab closes high schools as smog crisis deepens
Updated 12 November 2024
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After primary schools, Pakistan’s Punjab closes high schools as smog crisis deepens

After primary schools, Pakistan’s Punjab closes high schools as smog crisis deepens
  • Record air pollution has triggered hundreds of hospitalizations, school closures, lockdowns in Punjab this month 
  • On Tuesday, provincial capital Lahore, home to 13 million people, had worst air quality globally, according to IQAir

ISLAMABAD: The government of Punjab has closed all educational institutions in the province up to the higher secondary level from tomorrow, Wednesday, until the end of the week because of record-breaking smog that has already prompted the closure of primary schools and government offices and has sickened tens of thousands of people.

Record-high air pollution levels have triggered hundreds of hospitalizations, junior school closures and stay-at-home orders in several districts of Punjab, including the provincial capital of Lahore, which has been enveloped in a thick, toxic smog since last month.

On Tuesday, Lahore, home to 13 million people, had the worst air quality of any city in the world, according to live readings by IQAir, a Swiss air quality monitoring company.

“All the educational institutions […] up to higher secondary level shall remain closed and will shift to online mode with effect from Nov 13 within […] DG Khan, Bahawalpur, Sahiwal, Sargodha and Rawalpindi divisions […] till Nov 17,” the province’s Environmental Protection Agency (EPA) said in a notification issued on Tuesday, ordering schools to shift to “online mode.” 

In Pakistan, the higher secondary level refers to upper secondary education, which includes grades 11 and 12. It is also known as intermediate education.

Speaking to reporters, Punjab Education Minister Rana Sikandar Hayat said the decision to close higher secondary institutes was taken “in light of the complaints received from the district.”

“This drastic decision had to be taken to protect children from the deadly effects,” he said. “There is a sense of educational loss, but the decision to close educational institutions is being taken out of compulsion.

Primary schools and government offices had already been closed until Nov. 17 in many districts of Punjab earlier this month, with school closures likely to affect the education of more than 20 million students, according to associations representing private and government schools.

Authorities in 18 districts of Punjab also closed all public parks, zoos and museums, historical places, and playgrounds for ten days last week. 

On Friday, a court in Lahore ordered the government to shut all markets after 8pm. Authorities have already banned barbecuing food without filters and ordered wedding halls to close by 10pm.

On Monday, the UN children’s agency said the health of 11 million children in Punjab province was in danger because of air pollution

“Prior to these record-breaking levels of air pollution, about 12 percent of deaths in children under 5 in Pakistan were due to air pollution,” UNICEF’s representative in Pakistan, Abdullah Fadil, said. 

“The impact of this year’s extraordinary smog will take time to assess, but we know that doubling and tripling the amount of pollution in the air will have devastating effects, particularly on children and pregnant women.”


Bus carrying wedding guests falls into river in northern Pakistan, killing 18

Bus carrying wedding guests falls into river in northern Pakistan, killing 18
Updated 12 November 2024
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Bus carrying wedding guests falls into river in northern Pakistan, killing 18

Bus carrying wedding guests falls into river in northern Pakistan, killing 18
  • Accident took place on Gilgit Baltistan region as bus was heading to Chakwal in Punjab 
  • So far only one woman had been found alive and was being treated at hospital, officials say 

MANSEHRA, Pakistan: A bus carrying about two dozen wedding guests fell into the Indus River in northern Pakistan on Tuesday, killing at least 18 people, officials said.
It happened in the Gilgit Baltistan region as the bus was heading to Chakwal, a city in Punjab province, government spokesman Faizullah Farqan said.
He said a search for bodies continued, and so far only one woman had been found alive and was being treated at a hospital.
Police said it was unclear what caused the crash, and officers were yet to record the lone survivor’s statement.
Pakistani President Asif Ali Zardari offered condolences and asked rescuers to expedite efforts to find missing passengers.
Road accidents are common in Pakistan due to poor infrastructure and disregard for traffic laws and safety standards. In August, 36 people were killed and dozens of others were injured in two separate bus crashes.


Pakistan says developing nations need $6.8 trillion by 2030 to meet climate pledges

Pakistan says developing nations need $6.8 trillion by 2030 to meet climate pledges
Updated 12 November 2024
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Pakistan says developing nations need $6.8 trillion by 2030 to meet climate pledges

Pakistan says developing nations need $6.8 trillion by 2030 to meet climate pledges
  • PM Sharif calls on donor countries to give 0.7 percent of gross national income as development assistance, use existing climate funds
  • Premier says debt cannot become “acceptable new normal” in climate financing, calls for focus on non-debt financing solutions

ISLAMABAD: Prime Minister Shehbaz Sharif said on Tuesday developing countries would need an estimated $6.8 trillion by 2030 to implement less than half of their current nationally determined contributions (NDCs), or national action plans for reducing emissions and adapting to climate impacts defined by the Paris Agreement.

Nearly 200 nations have gathered in Baku, Azerbaijan, for COP29 climate talks this week to thrash out the details of a deal known as the New Collective Quantified Goal, designed to deliver billions of dollars of climate finance to the regions that need it the most. But the United States, Europe and others say they will only commit to the fund if the list of countries contributing to it is widened to include the likes of China, South Korea and Singapore, and the resulting deadlock could block progress during the talks.

Meanwhile, COP29 follows a year of weather disasters that have emboldened developing countries in their demands for climate cash. 

Pakistan is ranked the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, devastating floods killed over 1,700 people and affected over 33 million, with economic losses exceeding $30 billion. International donors pledged over $9 billion last January to aid Pakistan’s flood recovery but officials say little of the promised funds have been received so far.

“Developing countries will need an estimated $6.8 trillion by 2030 to implement less than half their current NDCs,” Sharif said in an address on the sidelines of the World Leaders’ Climate Action Summit.

“Donor countries should fulfill their commitment to provide 0.7 percent of their gross national income [as development assistance] and capitalize existing climate funds.”

One such commitment, the $100 billion Annual Climate Finance pledge established over a decade ago at COP15, is now reported by the Organization for Economic Co-operation and Development to have reached only $160 billion, Sharif said. 

“Despite this number remaining a tiny proportion of the defined need, a significant part of this financing is dispersed in the form of loans, further enhancing the debt burden on developing nations and potentially pushing them toward mounting debt traps, I call them death traps,” Sharif added.

“Pakistan alongside many other developing countries calls for stronger, more equitable climate finance mechanisms. Debt cannot become the acceptable new normal in climate financing which is why we must resume focus on non-debt financing solutions, enabling countries to fund climate initiatives.”

Sharif also called on the United Nations Framework Convention on Climate Change to set up a committee to review NDCs “periodically.”

“We need to double adaptation financing from present level and loss and damage funds must be enhanced and directed toward resilient infrastructure and other pressing needs,” Sharif added.

Governments last year pledged $800 million toward a new ‘loss and damage’ fund to help poorer nations being hit by climate-fueled disasters. The fund, which has a director and a host nation, will now be deciding how the funds should be dispersed and calling for more contributions at COP29.

On Tuesday, the world’s top multilateral banks, including the World Bank, European Investment Bank and Asian Development Bank, pledged to ramp up climate finance to low and middle income countries to $120 billion a year by 2030 as part of efforts at COP29 to agree to an ambitious annual target.

Reaffirming a goal of capping global warming at 1.5 degrees Celsius above the pre-industrial average by 2050, the new figure is a more than 60 percent increase on what the group of 10 multilateral development banks (MDBs) had funneled to poorer nations last year, according to a statement released during the UN climate summit.

The new figure includes $42 billion to help adapt to the impacts of extreme weather, a 70 percent increase over the 2023 number.


Emerging fintech operator in Middle East, Pakistan to acquire FINCA Microfinance Bank

Emerging fintech operator in Middle East, Pakistan to acquire FINCA Microfinance Bank
Updated 12 November 2024
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Emerging fintech operator in Middle East, Pakistan to acquire FINCA Microfinance Bank

Emerging fintech operator in Middle East, Pakistan to acquire FINCA Microfinance Bank
  • FINCA operates in 108 cities in Pakistan, providing state-of-the-art deposit and payment solutions 
  • ABHI established global headquarters in Abu Dhabi in Jan. 2024, has expended to Dubai and Saudi Arabia 

KARACHI: Abhi Private Limited, an emerging fintech operator in the Middle East and Pakistan, and leading tech conglomerate TPL Corp. Limited, are all set to jointly acquire FINCA Microfinance Bank Limited, a statement from Abhi said on Tuesday. 

FINCA Pakistan, part of a global FINCA network, operates in 108 cities across Pakistan, providing state-of-the-art deposit and payment solutions, including micro-credit facilities aimed at improving livelihoods. 

ABHI established its global headquarters in Abu Dhabi in January 2024 and has also expanded its business through partnerships in Dubai and Saudi Arabia.

“The strategic alliance between Abhi and TPL Corp. aims to reshape financial inclusion efforts across Pakistan by combining FINCA’s extensive microfinance network and expertise with Abhi’s innovative digital solutions and TPL Corp’s presence in retail, insurance and technology sectors,” Abhi said in a statement. 

“By bringing together these complementary strengths, the partnership is set to diversify and expand access to financial products and services that cater to underserved communities, including rural populations, small businesses, and lower-income individuals.”

The acquisition will combine TPL’s diverse business portfolio and FINCA Pakistan’s established presence and deep knowledge of the market, with the combined entity being “well-positioned to introduce customer-focused solutions that can make a tangible difference in underserved regions.”

“At Abhi, we’ve always believed in creating accessible financial solutions for everyone,” said Omair Ansari, CEO & Co-founder of Abhi. 

“By joining forces with TPL, we’re making a stride toward expanding our reach and delivering impactful financial products to millions of Pakistanis who have previously lacked access to essential services.”

Looking ahead, Abhi, TPL and FINCA plan to focus on delivering a new range of financial products “tailored to underserved communities, driving financial inclusion and contributing to the nation’s economic growth.”

“FINCA Pakistan delivered on its promise to develop a nationwide microfinance network that is creating economic opportunity throughout Pakistan, especially for women,” said Jeff Smith, chair of the FINCA Pakistan Board of Directors. 

“Abhi and TPL share FINCA’s commitment to expanding access to financial services for small entrepreneurs. The infusion of new capital and more comprehensive digital services have the potential to significantly accelerate financial inclusion in Pakistan.”