Pakistan hopes to achieve 6 percent GDP growth this fiscal year — finance ministry

People buy grocery items at a store in Peshawar, Pakistan, on April 5, 2021. (AFP/File)
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Updated 21 February 2022
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Pakistan hopes to achieve 6 percent GDP growth this fiscal year — finance ministry

  • Says increase in industrial, agricultural and exports growth show “robust economic growth”
  • Economists say given economic challenges even a 5 percent GDP growth rate would be a success

ISLAMABAD: The Pakistani government hopes to achieve six percent gross domestic product (GDP) growth this fiscal year owing to increased expansion in industrial and agricultural sectors, the finance ministry said on Sunday. 

Pakistan’s finance ministry set a 4.8 percent GDP growth rate as its target for the fiscal year 2021-22 in the annual budget in May last year. The International Monetary Fund (IMF) said earlier this month Pakistan’s economy is set to keep on recovering in this fiscal year, with real GDP growth projected at 4 percent. 

“Looking at all the recent economic indicators including industrial and agricultural growth, we are sure to achieve a six percent GDP growth rate this fiscal year,” Muzzammil Aslam, a spokesperson for the Ministry of Finance, told Arab News. 

He said electricity generation and consumption had registered an increase of 9 percent which reflected increased industrialization, manufacturing and employment in the country. 

Citing the numbers, he said Pakistan had witnessed 7.4 percent industrial growth while the South Asian country’s exports were growing at a pace of 25 percent this fiscal year along with a rise in electricity consumption. 

“These all are data proofs to show robust economic growth due to the government’s business and industry-friendly policies,” he said. 

“Cotton and sugarcane crops have registered a significant production increase this year, and this all is contributing to industrial growth and jobs creation [in the country],” he said. 

In January, Pakistan revised its economic growth rate for 2020-21 to 5.37 percent from 3.9 percent after the country's statistics bureau shifted its economy's baseline. 

With the new 2015-16 baseline, the country’s total GDP has reached $346.76 billion with a per capita income of $1,666. 

Economists say the government should focus on “sustainable growth” while keeping all challenges in the mind. 

“We have increased our interest rate and cut imports after December as part of a deal with the IMF, so this economic contraction will hold back our GDP growth to around 5 percent,” AA H. Soomro, a Karachi-based senior economist, told Arab News. 

He said the government will also spend less through the annual Public Sector Development Program (PSDP) to fulfill IMF conditions while wheat production was also expected to get a hit due to a shortage of fertilizers. 

The Russia-Ukraine conflict is also causing oil prices to surge in the international market and if this continues for the next three to four weeks, it will significantly increase Pakistan’s current account deficit, Soomro warned. 

“Keep in mind all these challenges, it will be a success even if Pakistan achieves a five percent GDP growth rate in this fiscal year,” the economist added.


Residents struggle to cope as heatwave grips southern Pakistan

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Residents struggle to cope as heatwave grips southern Pakistan

  • Temperature in southern port city of Karachi surged to 41 degrees Celsius this week 
  • Pakistan Meteorological Department says mercury will start to decline from Thursday 

KARACHI: Karachi residents continued to suffer the sweltering heat on Wednesday, with doctors and emergency responders advising citizens to exercise caution by staying hydrated and avoid venturing out unnecessarily. 
An intense heatwave gripped Pakistan’s southern Sindh province this week, particularly its commercial capital of Karachi. The temperature in Karachi soared to 41 degrees Celsius on Monday while it declined to 39 degrees Celsius on Tuesday and 38.6 degrees Celsius on Wednesday. 
Pakistan ranks among the top ten nations most vulnerable to climate change, grappling with increasingly frequent extreme weather events— from deadly heatwaves to devastating floods. The 2015 heatwave claimed over 2,000 lives in Karachi alone, and the 2022 floods left more than 1,700 dead and over 33 million displaced nationwide.
“I’ve already drunk water from three or four places, but still the heat is so overwhelming that it’s hard to make sense of things,” Ejaz Ahmed, a rickshaw driver, told Arab News while stopping at a roadside stall offering water. 
“In Karachi, the pollution is very high— there’s smoke, there’s pollution.”
Traffic constable Nadir Ali has to perform his duties while the harsh rays of the sun beat down on Karachi. Ali said the unbearable heat makes it difficult for him to perform his job. 
“We are standing here at Kharadar Chowk on the road and the heat is intense,” Ali told Arab News. “The heat is very strong and we are covering our heads while carrying out our duties.”
However, according to Meteorologist Anjum Zaigham, there is some relief in sight for Karachi residents as the temperature is expected to decline slightly starting Thursday.
“Starting tomorrow, we expect a slight decrease— temperatures should hover between 36 and 38 degrees,” he told Arab News. 
“Sea breezes will continue which will lead to higher humidity levels by evening. As a result, the perceived heat will feel two to three degrees higher than the actual temperature,” Zaigham added. 
Experts say rising temperatures are linked to climate change, putting vulnerable populations at risk. Muhammad Amin, who oversees operations at a heatwave camp set up by the Edhi Foundation, said the organization has instructed its drivers to carry cold drinking water and keep damp cloth with them to cover their heads with. 
“It’s extremely hot in Karachi. In response, this small setup has been arranged: if people troubled by the heat come here, water is poured over their heads, and they are advised to keep a cloth on their heads afterward,” Amin said.
“So far, there have been no reports of deaths caused by the heat,” Amin said, crediting growing public awareness for it.
“Awareness has increased significantly— people now have more information about how to deal with the heat.”
Doctors, meanwhile, urge citizens to exercise caution amid the heatwave. 
“Do not go outside unnecessarily, especially between 10 am to 12 or 1 pm,” Dr. Akash Kumar, a doctor at the Jinnah Postgraduate Medical Center (JPMC), which is Sindh’s largest health facility, said. 
“If your work involves being out in the heat, try to wear a cap. If you cannot wear a cap, then at least try to stay out of direct sunlight,” he added. 
He urged people to drink plenty of water and wear light and loose clothing.
“Please try to avoid going outside unnecessarily during these days when the risk of heat stroke is high,” he said. 


‘Build bridges with Pakistan and beyond’: British Council unveils evolution of 100 English phrases

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‘Build bridges with Pakistan and beyond’: British Council unveils evolution of 100 English phrases

  • To mark World English Day, British Council has unveiled Phrase-ology, new research project exploring the journey of English expressions
  • From long-established idioms like “breaking the ice” to new-gen slang such as “ate and left no crumbs,” project shows how English has evolved

ISLAMABAD: To mark World English Day, the British Council has unveiled Phrase-ology, a major new research project exploring the fascinating journey of English expressions, from ancient origins to modern slang shaped by global cultures and digital life, hoping the project will “build bridges within Pakistan and around the world.”

Led by Dr. Barbara McGillivray, an expert in computational linguistics and NLP specialist Iacopo Ghinassi, the study analyzed millions of online texts to track the emergence, evolution, and popularity of phrases. From long-established idioms like “breaking the ice” to new-gen slang such as “ate and left no crumbs,” meaning to do something flawlessly, the research shows how English continues to evolve and adapt.

“As we trace the journey of English through time and culture, we’re also recognizing its power to open doors and build bridges within Pakistan and around the world,” James Hampson, Country Director, British Council Pakistan, said in a statement. 

Mark Walker, Director of English & Exams at the British Council, said the new research project not just looked at the past but also the future of English:

“Whether for work, study, travel, relationships, or lifelong learning, as the global lingua franca, English is one of the key ways that people connect and engage across cultures.” 

From Ancient Greece to Gen Z: A Language in Motion

Phrase-ology reveals that while time-honored phrases like “kill two birds with one stone” are still common, others have been reinvented or emerged in recent decades. For example, “spill the beans” dates to the early 1900s, but its modern cousin “spill the tea,” popularized within African American and other communities, surged on social media from 2017 onwards.

Even expressions like “bucket list,” now widely known, barely existed in popular usage before the 2007 film of the same name. 

Meanwhile, phrases like “let them cook” and “main character energy” highlight how social media continues to generate and amplify new linguistic trends.

Language Across Generations

The study also highlights generational differences and overlaps.

While older phrases like “better late than never” remain widely used, Gen Z has embraced terms such as “glow up”, “no cap”, and “vibe check.” Yet, some expressions like “keep it real,” first heard in the 1960s, remain relevant across all age groups.

A Global Language with Global Roots

English expressions often have unexpected international origins. 

“Long time no see” may derive from Chinese Pidgin English or early 20th-century American Westerns. “Moment of truth” comes from the Spanish bullfighting term “hora de la verdad,” while “chin chin” – now a toast – stems from the Chinese word “qǐng,” meaning “please.” 

The study even draws linguistic parallels, such as Nigeria’s “to yarn dust” – similar in meaning to “talking rubbish.”

A Living Language, Categorized

The British Council has compiled a list of 100 phrases that reflect the richness of English, organized into eight thematic categories:

Global English – borrowed from other languages (e.g. let the genie out of the bottle)
Classic Evergreen – longstanding idioms (e.g. raining cats and dogs)
Generational – tied to specific eras (e.g. instant karma)
Pop Culture – driven by media and entertainment (e.g. let them cook)
Sports – with athletic origins (e.g. straight off the bat)
Gen Z – contemporary slang (e.g. no cap)
Language of Belief – rooted in religion (e.g. turn the other cheek)
Shakespeare – phrases from or inspired by his works (e.g. wearing one’s heart on one’s sleeve)


Pakistan ‘concerned’ over deadly attack in Indian-administered Kashmir, Delhi vows ‘loud and clear’ response

Updated 54 min 43 sec ago
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Pakistan ‘concerned’ over deadly attack in Indian-administered Kashmir, Delhi vows ‘loud and clear’ response

  • Twenty-six people were killed and 17 were injured when suspected militants opened fire at tourists in Jammu and Kashmir territory
  • Such attacks have historically strained ties between India and Pakistan, two nuclear-armed rivals with a long-standing dispute over Kashmir

ISLAMABAD: Pakistan said on Wednesday it was “concerned” after 26 people were gunned down at a tourist site in Indian-administered Kashmir in the region’s deadliest attack on non-combatants in decades, with New Delhi vowing a “loud and clear” response. 

The shooting occurred Tuesday afternoon in Pahalgam, a popular resort town in the Anantnag district, where armed men emerged from forest cover and opened fire on crowds of mostly domestic tourists. A little-known militant group, the “Kashmir Resistance,” claimed responsibility for the attack in a social media message, saying more than 85,000 “outsiders” had been settled in the region after arriving as tourists, vowing violence against such settlers. 

Kashmir is divided between India and Pakistan since 1947, which they both claim fully but rule in part, and has been plagued by years of insurgent violence that New Delhi says is supported by Islamabad. Pakistan denies the accusations, saying it only provides diplomatic support to Kashmiris in their struggle for self-determination. 

Such attacks have historically strained ties between India and Pakistan. In 2019, a suicide bombing in Pulwama killed 40 Indian paramilitary personnel and triggered cross-border air strikes, pushing the neighbors to the brink of war.

“We are concerned at the loss of tourists’ lives in an attack in Anantnag district,” the Pakistani foreign office said in a statement. “We extend our condolences to the near ones of the deceased and wish the injured a speedy recovery.”

Indian Prime Minister Narendra Modi, who cut short a state visit to Saudi Arabia after the attack, called it an “heinous act” and pledged justice against the perpetrators.

“Those responsible and behind such an act will very soon hear our response, loud and clear,” Indian Defense Minister Rajnath Singh said in a speech in New Delhi on Wednesday.

“We won’t just reach those people who carried out the attack. We will also reach out to those who planned this from behind the scenes on our land,” he said in what was widely seen as a veiled reference to Pakistan. 

“India’s government will take every step that may be necessary and appropriate,” he added.

On Wednesday, India’s army also reported killing two gunmen in a separate incident near the Line of Control, the de facto border separating the Pakistani and Indian sides of Kashmir, in Baramulla district, describing it as a foiled infiltration attempt.

A violent separatist insurgency has simmered in the Indian-administered part of Kashmir since the late 1980s, although militant violence had declined in recent years.

PARTITION AND ACCESSION
After partition of the subcontinent in 1947, Kashmir was expected to go to Pakistan, as other Muslim majority regions did. Its Hindu ruler wanted to stay independent but, faced with an invasion by Muslim tribesmen from Pakistan, acceded to India in October 1947 in return for help against the invaders.

GEOGRAPHY AND DEMOGRAPHICS
Kashmir ended up divided among Hindu-majority India, which governs the Kashmir Valley, Jammu, and Ladakh; Muslim-majority Pakistan, which controls Azad Kashmir (“Free Kashmir“) and the Northern Areas, and China, which holds Aksai Chin.

Indian-administered Kashmir has a population of around 7 million, of whom nearly 70 percent are Muslim.

ARTICLE 370
This provision of the Indian constitution which provided for partial autonomy for Jammu & Kashmir was drafted in 1947 by the then prime minister of the state, Sheikh Abdullah, and accepted by India’s first prime minister Jawaharlal Nehru. Although intended as temporary, it was included in India’s Constitution in 1949 by the constituent assembly.

REVOKING OF SPECIAL STATUS
In August 2019, Prime Minister Narendra Modi’s government revoked Kashmir’s semi-autonomous status in a move it said would better integrate the region with the rest of the country. The state was reorganized into two federally administered union territories- Jammu and Kashmir, and Ladakh. Pakistan strongly objected, downgrading diplomatic ties with India and cutting off trade. 

WARS AND MILITARY STANDOFFS
India and Pakistan have fought three wars since independence, two of them over Kashmir, in 1947 and 1965. A third in 1971 led to the creation of Bangladesh. In 1999, the they clashed again in the Kargil region in what was described as an undeclared war. A UN-brokered ceasefire line, the Line of Control, now divides the region.

THE INSURGENCY
Many Muslims in Indian Kashmir have long resented what they see as heavy-handed rule by India. In 1989, an insurgency by Muslim separatists began. India poured troops into the region and tens of thousands of people have been killed.
India accuses Pakistan of arming and training militants, which Islamabad denies, saying it offers only moral and diplomatic support.

RECENT YEARS
Modi says his 2019 decision brought normalcy to Kashmir after decades of bloodshed. Violence has tapered off in recent years, according to Indian officials, with fewer large-scale attacks and rising tourist arrivals. Targeted killings of civilians and security forces, however, continued to be reported.

2024 ELECTIONS
In 2024, Jammu and Kashmir held its first local elections since the 2019 revocation of autonomy. Several newly elected lawmakers urged a partial restoration of Article 370. Key regional parties had boycotted or criticized the polls, saying the winners would not get any real political power.

With inputs from Reuters
 


GAVI, Unicef supply refrigerated trucks to strengthen Pakistani children’s access to vaccines 

Updated 51 min 2 sec ago
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GAVI, Unicef supply refrigerated trucks to strengthen Pakistani children’s access to vaccines 

  • Five trucks to be allocated to each Pakistani province, says Health Minister Syed Mustafa Kamal
  • Harsh weather, difficult terrains and limited health care facilities complicate delivery of vaccines

ISLAMABAD: The United Nations International Children’s Emergency Fund (UNICEF) and global vaccine alliance Gavi have donated 31 refrigerated trucks to Pakistan, the country’s health ministry confirmed on Wednesday, in their bid to improve vaccine access for children in remote areas.

Children in Pakistan’s remote areas face considerable challenges in accessing vaccines. Many parts of the country, such as mountainous terrains in the north, desert areas in the south and conflict-affected zones lack proper road infrastructure and reliable transportation for vaccines. 

Refrigerated trucks, also known as cold chain vehicles, store vaccines in specific cold temperatures to ensure they do not lose their effectiveness. These trucks were provided through a collaborative effort between the Pakistani government, UNICEF and Gavi, the health ministry said. 

“UNICEF officially handed over 31 refrigerated trucks to the Federal Directorate of Immunization (FDI) in Islamabad today,” the Ministry of National Health Services Regulations and Coordination said. 

Health Minister Syed Mustafa Kamal and UNICEF’s representative in Pakistan, Abdullah Fadil, took part in a ceremony during which the trucks were handed over to Pakistan. 

The ministry quoted Kamal as saying that five refrigerated trucks would be allocated to each province of the country.

“These new refrigerated vehicles will significantly strengthen access to life-saving vaccines for children across Pakistan, including the remote regions of Gilgit-Baltistan and other hard-to-reach areas,” he said. 

Kamal also spoke about Pakistan’s ongoing national anti-polio drive, which began on Apr. 21 and will run for seven days. Over 450,000 frontline workers are taking part in the drive. 

The health minister expressed concern over parents’ growing refusals for polio drops and directed authorities to file a police report against vaccine refusers.

“Every child has the right to be protected from preventable diseases,” UNICEF’s Fadil was quoted as saying. “By safeguarding vaccine potency through a strengthened cold chain, we are making strides toward a healthier Pakistan where every child is fully immunized.”

The health ministry said UNICEF, with support from Gavi, was also providing technical assistance to improve vaccine micro plans, cold chain system strengthening and real-time monitoring.

This latest initiative builds upon ongoing support for vaccine access in Pakistan, which included the delivery of 23 refrigerated vehicles in 2021 and seven pick-up trucks earlier this year. 


Pakistan central bank to launch ‘green taxonomy’ guidelines by June — finance minister

Updated 23 April 2025
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Pakistan central bank to launch ‘green taxonomy’ guidelines by June — finance minister

  • Guidelines will pave the way for launching instruments like green bonds, green sukuk, country’s first panda bond
  • Pakistan is making efforts to mobilize private sector capital for environmentally sustainable development

KARACHI: The State Bank of Pakistan is finalizing a green taxonomy framework set for launch in June, the finance minister said this week, paving the way for innovative instruments such as green bonds, green sukuks, and the country’s inaugural panda bond.

In May 2021, Pakistan issued its first $500 million green bond to fund a hydroelectric project. Last month, the country launched its first-ever rupee-denominated green bond as part of efforts to mobilize private sector capital for environmentally sustainable development.

Pakistan’s Nationally Determined Contributions 2021 (NDCs) set a cumulative and ambitious conditional target of an overall 50 percent reduction in its projected emissions by 2030, with 15 percent from the country’s own resources, and 35 percent subject to provision of international finance amounting to $101 billion just for energy transition. To reach the target, Pakistan aims to shift to 60 percent renewable energy (RE), and 30 percent EVs by 2030 and completely ban imported coal, while expanding nature-based solutions. A green finance scheme in the country can significantly support the achievement of these targets.

“Now the State Bank is in the process of finalizing the green taxonomy guidelines,” Finance Minister Muhammad Aurangzeb said during a talk at The Atlantic Council. “In the June timeframe, they will come out with the green taxonomy framework.”

Recalling Pakistan’s first green bond by the Water and Power Development Authority in 2021, he said a second step under the green taxonomy framework would be launch green sukuk, a Shariah-compliant Islamic bond where the proceeds are used to finance or refinance green projects that contribute to environmental sustainability, such as renewable energy, infrastructure development, and biodiversity preservation.

“The second is some of the green sukuks that we have issued locally now through the ministry of finance and the State Bank,” he said. “

“And the last thing I just want to mention here is we are quite hopeful that during this calendar year, we can print the first, inaugural panda bond that is going to also be green in nature, because the proceeds of those bonds are going to be linked with the SDG [UN’s Sustainable Development Goals] projects. So a lot is happening in that space.”

A panda bond is a Chinese Yuan (RMB)-denominated bond issued by a non-Chinese entity within China’s domestic bond market. This type of bond allows foreign entities, including governments and corporations, to access Chinese capital markets and tap into the liquidity of the Chinese financial system. Essentially, it is a way for non-Chinese issuers to raise funds in China without having to go through the standard international bond issuance process. 

Pakistan is highly vulnerable to climate change, experiencing significant impacts like rising temperatures, changing precipitation patterns, and increased extreme weather events. These changes threaten water, food, and energy security, impacting agriculture, coastal areas, and ecosystems, according to a report from the Ministry of Climate Change and Environmental Coordination. The country is also grappling with sea-level rise, glacial melting, and increased droughts.