Sindh Govt declares 20 districts as Calamity Affected Areas

Sindh government has declared twenty districts of the province as "Calamity Affected Areas".

According to the notification issued by Relief Commissioner Sindh, the heavy rainfall during Monsoon caused losses to human lives and property in various districts of the province.

The Deputy Commissioners of the affected districts will immediately conduct survey to assess losses for compensation.

According to the notification, Karachi south, west, east, central, Korangi, Malir, Hyderabad, Badin, Thatta, Sajawal, Jamshoro, Tando Mohammad Khan, Tando Allahyar, Matiari, Dadu, Mirpurkhas, Umerkot, Tharparker, Shaheed Benazirabad and Sanghar have been declared calamity hit.

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Ashura Day is being celebrated with respect across the country

Youm-e-Ashur, the tenth of Muharram, is being observed today with solemnity and sanctity to pay homage to Hazrat Imam Hussain (A.S) and his companions who laid down their lives in Karbala.

Processions will be taken out in different cities to mourn the martyrdom of Hazrat Imam Hussain (A.S), the grandson of Prophet Muhammad (Peace Be Upon Him).

Majalis will be held across the country where ulema will highlighting the philosophy of Karbala and pay tributes to the martyrs.

Strict security arrangements have been put in place to thwart off any unwanted incident, while Standard Operating Procedures (SOPs) have been issued for the mourning processions after consultations with the religious scholars to stem the spread of coronavirus.

The day will start with special prayers at mosques and imambargahs while all markets and business centres will remain closed on the occasion of Ashura.

Sacrifice of Imam Hussain (A.S), his companions guiding principle for Muslims: President Alvi, PM Imran

In their message on the occasion of Yaum-e-Ashur, President Arif Alvi and Prime Minister Imran Khan said the sacrifice of Hazrat Imam Hussain (A.S) and his companions is, in fact, a guiding principle for the Muslims which taught them to sacrifice everything during the struggle for truth.

President Alvi said the martyrdom of Hazrat Imam Hussain (A.S) was, in fact, the victory of truth, and symbol of steadfastness against oppression and a glorious example of sacrifice.

The president urged the countrymen to pledge to take every step for the victory of truth, promotion of justice, adherence to Islamic values, and for national progress and prosperity.

PM Imran in his message said the battle of Karbala fought between truth and falsehood has made it clear that the real success and steadfastness is the passion to sacrifice everything for revival and promotion of Islamic values.

Paying tribute to the sacrifice of Kashmiri people, he said they have kept the teachings of Hazrat Imam Hussain (A.S) alive and just like Karbala, they also made Kashmir an example of the battle between truth and falsehood.

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Sacrifice of Imam Hussain (RA), his companions guiding principle for Muslims: President, PM

In their separate messages, on the occasion of Youm-e-Ashur, President Dr Arif Alvi and the Prime Minister Imran Khan have said sacrifice of Hazrat Imam Hussain (RA) and his companions is in fact a guiding principle for the Muslims which taught them to sacrifice everything during the struggle for truth.

The President Dr Arif Alvi, in his message, said the martyrdom of Hazrat Imam Hussain (R.A) was in fact the victory of truth, and symbol of steadfastness against oppression and a glorious example of sacrifice.

He said that the sacrifice of Imam Hussain gave Muslims a lesson that one should not evade even sacrificing his life while fighting against the evil forces.

The President urged the countrymen to make a pledge to take every step for victory of truth, promotion of justice, adherence to Islamic values, and for national progress and prosperity.

The Prime Minister Imran Khan, in his message, said the historic battler of Karbala fought between truth and falsehood has made it clear that the real success and steadfastness is the passion to sacrifice everything for revival and promotion of Islamic values.

Paying tribute to the sacrifice of Kashmiri people, he said they have kept the teachings of Hazrat Imam Hussain (RA) alive and just like Karbala, they also made Kashmir an example of battle between truth and falsehood.

The Prime Minister also appealed the countrymen to adhere to the SOPs of Covid-19 during Muharram rituals.

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Sacrifice of Imam Hussain (RA), his companions guiding principle for Muslims: President, PM

In their separate messages, on the occasion of Youm-e-Ashur, President Dr Arif Alvi and the Prime Minister Imran Khan have said sacrifice of Hazrat Imam Hussain (RA) and his companions is in fact a guiding principle for the Muslims which taught them to sacrifice everything during the struggle for truth.

The President Dr Arif Alvi, in his message, said the martyrdom of Hazrat Imam Hussain (R.A) was in fact the victory of truth, and symbol of steadfastness against oppression and a glorious example of sacrifice.

He said that the sacrifice of Imam Hussain gave Muslims a lesson that one should not evade even sacrificing his life while fighting against the evil forces.

The President urged the countrymen to make a pledge to take every step for victory of truth, promotion of justice, adherence to Islamic values, and for national progress and prosperity.

The Prime Minister Imran Khan, in his message, said the historic battler of Karbala fought between truth and falsehood has made it clear that the real success and steadfastness is the passion to sacrifice everything for revival and promotion of Islamic values.

Paying tribute to the sacrifice of Kashmiri people, he said they have kept the teachings of Hazrat Imam Hussain (RA) alive and just like Karbala, they also made Kashmir an example of battle between truth and falsehood.

The Prime Minister also appealed the countrymen to adhere to the SOPs of Covid-19 during Muharram rituals.

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Pakistan to bounce back with 'modest' growth in FY2019-20: IIF

Pakistan is expected to bounce back with modest growth during the current fiscal year but a widening deficit and growing debt still pose risks to its economic outlook.

“We expect Pakistan to experience modest growth in FY2020/21 following a small contraction in FY2019/20,” the Institute of International Finance has said in its latest report.

“However, risks to the economic outlook are tilted to the downside. Recurrent outbreaks of Covid-19, a large fiscal deficit and high public indebtedness remain major challenges.”

The Washington-based global association of financial institutions said the economy could grow by 1.8% in FY2020/21, driven by some recovery in private consumption.

The country’s exchange rate is market-determined and has depreciated by 22% in real effective terms since 2017.

“The effects of currency depreciation and weaker domestic demand are visible, as imports dropped by 18% in nominal dollar terms, more than offsetting the decline in exports of 7% in FY2020,” the institute said in the report, “Pakistan: Commitment to Reform Faces a Test”.

The pandemic led to a contraction in output of 0.7% in FY2020.

Domestic demand declined 2%, while exports of goods and services increased 1.6% as compared with a decline of 7.3% in imports of goods and services.

Adjusted for population, fewer cases and deaths of Covid-19 have been recorded in Pakistan than in other developing and emerging economies. These results are subject to a large degree of uncertainty, as data quality, testing capacity, and transparency vary.

The IIF said lockdown restrictions have been lifted across the country. The response measures have been adequate, supported by the IMF’s emergency financing thourgh an amount of $1.4 billion, provided in April.

Expansion of social programs has rightly focused on tackling the health emergency and supporting the most vulnerable while stimulating economic activity, the report argued.

The State Bank of Pakistan’s proactive liquidity initiatives and lower policy rates are propping up economic activity and safeguarding financial stability, according to the IIF.

The policy rate has been lowered five times since February, a cumulative reduction of 625 basis points.

The authorities have also introduced a fiscal stimulus package in the amount of $5.1 billion, which included direct transfers to wage workers and poor families, financial support to SMEs and the agricultural sector, higher subsidies for basic goods, and various tax incentives.

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PDMA forecast another moonsoon rain bearing system

Pakistan Meteorological Department forecast another monsoon spell bringing rain and wind-thundershowers to Karachi and other parts of Sindh province with “heavy to very heavy showers” from Saturday evening.

The monsoon season in Karachi is expected to receive yet another episode of hammering showers starting from August 30 to August 31 in Sindh and Balochistan provinces, PMD said in its forecast.

The new system is expected to bring heavy rains in Karachi, Hyderabad, Thatta, Badin, Shaheed Benazirabad, Dadu, Tharparker, Nagarparker, Mirpurkhas, Islam Kot, Umar Kot, Sanghar, Sukkur and Larkana.

In Balochistan, rain and thundershowers with isolated heavy falls are also expected in Lasbella, Khuzdar, Awaran, Barkhan, Zhob, Musa Khel, Loralai, Kohlu and Sibbi during the period.

Rain and thundershower are also expected in Bahawalpur, Rahim Yar Khan, Khanpur, Rajanpur, Dera Ghazi Khan, Multan, Khanewal and Sahiwal during the period.

The Met Office issued a warning of urban flooding in Karachi, however, the chief meteorologist said that the system to effect Karachi is relatively “weak” which may mean isolated light to heavy rains across the city.

The city of lights was devastated after receiving unprecedented rains since Thursday as many areas are still flooded with rainwater.

Almost all the major roads of the city including II Chundrigar Road, University Road, Shahrae Faisal were inundated with no sign of them being cleared anytime soon.

The death toll from the devastation caused by yesterday’s record-breaking monsoon rain in the port city has jumped to 21, according to police and rescue sources.

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Pakistan to bounce back with 'modest' growth in FY2019-20: IIF

Pakistan is expected to bounce back with modest growth during the current fiscal year but a widening deficit and growing debt still pose risks to its economic outlook.

“We expect Pakistan to experience modest growth in FY2020/21 following a small contraction in FY2019/20,” the Institute of International Finance has said in its latest report.

“However, risks to the economic outlook are tilted to the downside. Recurrent outbreaks of Covid-19, a large fiscal deficit and high public indebtedness remain major challenges.”

The Washington-based global association of financial institutions said the economy could grow by 1.8% in FY2020/21, driven by some recovery in private consumption.

The country’s exchange rate is market-determined and has depreciated by 22% in real effective terms since 2017.

“The effects of currency depreciation and weaker domestic demand are visible, as imports dropped by 18% in nominal dollar terms, more than offsetting the decline in exports of 7% in FY2020,” the institute said in the report, “Pakistan: Commitment to Reform Faces a Test”.

The pandemic led to a contraction in output of 0.7% in FY2020.

Domestic demand declined 2%, while exports of goods and services increased 1.6% as compared with a decline of 7.3% in imports of goods and services.

Adjusted for population, fewer cases and deaths of Covid-19 have been recorded in Pakistan than in other developing and emerging economies. These results are subject to a large degree of uncertainty, as data quality, testing capacity, and transparency vary.

The IIF said lockdown restrictions have been lifted across the country. The response measures have been adequate, supported by the IMF’s emergency financing thourgh an amount of $1.4 billion, provided in April.

Expansion of social programs has rightly focused on tackling the health emergency and supporting the most vulnerable while stimulating economic activity, the report argued.

The State Bank of Pakistan’s proactive liquidity initiatives and lower policy rates are propping up economic activity and safeguarding financial stability, according to the IIF.

The policy rate has been lowered five times since February, a cumulative reduction of 625 basis points.

The authorities have also introduced a fiscal stimulus package in the amount of $5.1 billion, which included direct transfers to wage workers and poor families, financial support to SMEs and the agricultural sector, higher subsidies for basic goods, and various tax incentives.

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