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IMF sees no major flood impact on Pakistan’s economy

Islamabad: The International Monetary Fund (IMF) does not foresee any major setback to Pakistan’s economic growth or revenue collection this fiscal year due to the recent floods. Except for Punjab, provinces have also not reported significant economic losses, minimizing the chances of a downward revision in targets.

According to government sources, Pakistani authorities have assessed flood-related losses in three rivers, but the evaluation of destroyed or damaged infrastructure in Punjab is still ongoing.

Government sources said that an IMF delegation shared its views about the economic impacts of the floods during a kick-off meeting with Finance Minister Muhammad Aurangzeb. The governments of Balochistan, Sindh and Khyber-Pakhtunkhwa (K-P) shared their initial assessments of the flood losses with the IMF team during separate meetings.

The sources said that during the kick-off meeting, the IMF team observed that based on initial input there were no significant economic losses. However, the IMF said that it would wait for the damage assessment report, the sources added.

The global lender also saw no impact of the floods on the tax revenues. It underscored that the Federal Board of Revenue (FBR) should share the visible outcome of the transformation plan. Prime Minister Shehbaz Sharif had approved the transformation plan last year to revitalise the tax machinery and also gave over Rs55 billion for various initiatives under the plan.

The IMF’s observations about the impact of the floods came on the heel of the prime minister’s request to the IMF managing director to factor in the impacts of the floods during the review meetings. The IMF was apprised that the government could meet the flood-related spending from the contingency pool and it might not need additional resources, said the sources.

Pakistan-IMF review talks began on September 25, which are scheduled to continue until October 8. The successful culmination of these talks would pave the way for the release of two tranches, totalling over $1.2 billion under two different loan programmes.

Also, the sources said, Pakistan’s internal assessment was that there would not be any major impact of the floods on the economic growth. The government has set a 4.2% growth target and it still expects to achieve from 3.7% to 4%, the sources added.

The total economic losses are estimated by the Planning Commission at around Rs360 billion or 0.3% of the size of the economy. The commission’s assessment was that the GDP growth may still remain around 4%.

One of the reasons for not estimating major losses to the crops was that the sowing of rice and sugarcane took place more than the area initially estimated. This would offset the impact of loss of the crops, they added.

The current account deficit would also not increase beyond the estimated figure, as no additional need for imports is projected because of floods, the sources added. The Pakistani authorities also do not see any major increase in imports. However, the IMF has not yet shared its projection of the economic growth, imports and current account deficit.

The sources said that the IMF delegation raised the issue of the delay in publication of the Governance and Corruption Diagnosis Assessment report. The authorities assured the global lender that the government would release the report within this week.

The report points out numerous shortcomings in Pakistan’s judicial, administrative and corporate structure, which contributed to poor governance in every important sphere of life. The IMF has also given over a dozen recommendations to ensure rule of law and the integrity of the judiciary.

During its meetings with three provinces, the IMF pointed out low spending on health and education in the last fiscal year. The K-P government said that low spending on health was because of the fact that many posts of doctors could not be filled due to the slow hiring process.

The IMF inquired whether the provinces would be able to meet the additional spending on the flood-related rehabilitation. The sources said that the provincial governments did not indicate the need for any additional resources due to limited impact.

However, the position of the Punjab government will be important in this regard, which plans to provide a comprehensive rehabilitation package to the affected people. The province is the worst-affected by the floods and its meeting with the IMF will take place this week.

The governments of K-P and Sindh shared their initial assessments. According to the authorities, Sindh estimated that the economic losses may remain in the range of Rs40 billion to Rs50 billion. The k-p government told the IMF that losses might be in the range of Rs30 billion.

The FBR remains the weakest link in the chain. The tax authorities are struggling to achieve this quarter’s Rs3.083 trillion target. They needed over Rs500 billion on September 30 (today) – the end of the first quarter of the current fiscal year – to achieve the target.

The filing of the income tax return also stands around 3.2 million as against the total 7.7 million returns filed for the tax year 2024. The FBR has also extended the date for import duty and tax-free sugar by two months to November. Earlier, it had notified that the sugar can be imported tax-free till the September 30.

The FBR also granted a further two-month extension to traders in real-time electronic transmission of sales tax receipts to the computers of the FBR. It was the second extension, which is tantamount to accepting the impracticality of the earlier deadlines.

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OPF Chairman Stresses Sufi Teachings at Awards Ceremony Recognizing National Icons

Sham e Qalandar Organized dy Daily Sada-e-Sach in collaboration with National Press Club

Islamabad: Chairman Overseas Pakistanis Foundation (OPF) Syed Qamar Raza Naqvi said that Hazrat Lal Shahbaz Qalandar taught humanity the values of love, tolerance, and service to mankind. He added that if the teachings of saints are adopted in practical life, half of society’s problems would automatically be resolved.

He expressed these views while addressing the concluding ceremony of “Sham-e-Qalandar”, jointly organized by the National Press Club and Daily Sada-e-Sach at the Mehdi Hassan Auditorium, Radio Pakistan, Islamabad where awards and honors were distributed among outstanding individuals from various fields across the country.

The evening began with soulful qawwali performances by Jawad Ali Malang and Bakht Ali Dhudial, which were taken to spiritual heights by renowned Pakistani qawwal Arif Feroz Khan. His distinctive style filled the gathering with deep spiritual emotion, leaving many in the audience moved to tears.

Addressing the ceremony, the OPF Chairman said that personalities like Arif Feroz Khan are a national pride who have spread the true message of Islam and introduced many non-Muslims to its teachings. He emphasized that the awards presented to high-achieving individuals from diverse fields are not merely honors but beacons of guidance for the entire nation, reminding everyone that true success lies in service and dedication.

Chief Editor Daily Sada-e-Sach, Syed Tabassum Abbas Shah, and President National Press Club, Azhar Jatoi, welcomed all participants. Prominent personalities and experts from various walks of life attended the ceremony. Chairman OPF Syed Qamar Raza Naqvi was the Chief Guest and Prime Minister’s Focal Person for the Youth Programme Syed Zeeshan Ali Naqvi attended as Special Guest.

During the awards ceremony, honors were conferred upon distinguished individuals for their exceptional services. Arif Feroz Khan (Qawwal) was awarded the title “Safeer-e-Mawaddat” for conveying the true message of Islam to non-Muslims. Renowned geologist Dr. Rafiq-ul-Hasan Baqri, author of over 100 books and discoverer of several oil and gas reserves, was also honored.

Dr. Hussain Ahmed, a PhD scholar who did PhD on Hazrat Ameer Kabeer Syed Ali Hamdan (Shah Hamdan) from NUML University, and Dr. Shahid Abbas, recognized globally for research in allergy, vaccines, and modern medicines, received awards for bringing international recognition to Pakistan.

Former Director General Federal Directorate of Education Dr. Ali Ahmed Kharal was honored for improving educational standards in the federal capital. Environmental writer Chaudhry Muhammad Arshad was recognized for raising awareness about climate change in Pakistan and abroad.

Raja Haroon Hafeez received an award for his valuable services in sports nationally and internationally, while businessman Chaudhry Farrukh Raza was honored for organizing Pakistan’s largest celebration on the birth of the grandson of the Holy Prophet (PBUH).

Dr. Abbas Shah was awarded the title “Health Ambassador” for successfully treating thousands of patients and encouraging medical tourism to Pakistan. For promoting the message and remembrance of Imam Hussain (AS) among youth, Syed Joun Ali Kazmi (Salar Karwan-e-Shah-e-Chiragh) was awarded “Salar-e-Pakistan.”

Prime Minister’s Focal Person Syed Zeeshan Ali Naqvi received the title “Youth Ambassador” for his continuous efforts toward youth development beyond political affiliations. Chairman OPF Syed Qamar Raza Naqvi was conferred “Overseas Ambassador” for his services to overseas Pakistanis and for improving Pakistan’s global image.

Jawad Ali Malang and Bakht Ali Dhudial received “Young Singer Awards.” Principal Information Officer Press Information Department Mubashir Hassan was honored as “Best PR Professional” for strengthening government-media relations, while Ali Nawaz Malik received the “Best Press Minister” award for effectively highlighting Pakistan’s stance abroad and countering negative propaganda.

Awards were also announced for Provincial Secretary Information & Culture Syed Tahir Raza Hamdani, Director General Radio Pakistan Saeed Ahmed Sheikh, DG PID Lahore Shafqat Abbas, and Director Minister Office Ministry of Information & Broadcasting Amir Raza Malik for their services. Additionally, President PFUJ Afzal Butt was honored for his notable services for press freedom, Dr. Syed Nasir Ali Shah was honored for services in cardiac care, Dr. Tafazal Malik for rehabilitation of disabled patients in Pakistan and USA and Director Federal Government Employees Housing Authority Syed Kazim Abbas for his outstanding public service.

The event was gracefully hosted by Tassawar Zaman Babar who was also awarded Best Compere in recognition of his professional and dignified conduct.

The gathering not only highlighted spiritual devotion but also celebrated individuals who have made significant contributions to human welfare and societal development, a purpose highly appreciated by the participants.

Articles

Pakistan vs Sri Lanka: A Thrilling Contest Showcases Competitive Cricket

By Shahmeer Shahnawaz

The much-anticipated clash between Pakistan and Sri Lanka once again delivered an exciting display of competitive cricket, keeping fans on the edge of their seats. Both teams entered the match with strong line-ups and a clear determination to dominate, making the encounter a treat for cricket lovers.

Pakistan showcased disciplined bowling and aggressive batting intent, applying pressure at crucial moments of the game. The bowlers maintained tight lines and lengths, while the batters played with confidence, rotating the strike effectively and capitalizing on scoring opportunities.

Sri Lanka, known for their resilience, responded with fighting spirit. Their players showed composure under pressure, combining solid defense with timely attacking shots. The team’s fielding effort and tactical awareness added intensity to the contest, reflecting their growing strength in international cricket.

The match highlighted the depth of talent on both sides and reinforced the historic rivalry between Pakistan and Sri Lanka. Moments of brilliance, strategic battles, and passionate performances made the game a memorable one for fans across the globe.

As both teams continue their international campaigns, this encounter served as an important benchmark, offering valuable insights and momentum for upcoming fixtures. Cricket enthusiasts now eagerly look forward to the next chapter in this exciting rivalry.

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Sindh Auqaf’s Delays Ignite Statewide Unrest Over the Masooma-e-Sindh Shrine Construction

Press Conference on Bibi Masooma Sindh Shrine construction delay

HYDERABAD: After consistently countering the prolonged mischief and various schemes of extremist groups, the construction of the sacred mausoleum of Masooma-e-Sindh, Bibi Maham Khadija (SA) bint Imam Musa Kazim (AS), finally began under the clear directives of the Sindh High Court Circuit Bench Hyderabad.

However, due to the delaying tactics and obstructive methods employed by certain officials within the Auqaf Department Sindh itself, the construction of the holy shrine has been completely halted for several months without any valid reason.

Despite widespread and prolonged public protests, the construction remains entirely suspended—reflecting that these intense and persistent demonstrations have had no impact on the concerned officials of the Auqaf Department, who appear determined to continue their conspiratorial delay tactics.

Their apathy has created deep anxiety and unrest among thousands of pilgrims who visit from across the country and continue to suffer various hardships due to the halt in construction. This growing frustration is pushing them toward public protest against the conduct of the Auqaf officials. Yet, the construction of the Mausoleum of Masooma-e-Sindh remains at a complete standstill.

These views were expressed by Sindh’s renowned and senior Noha Khwans—Mir Imdad Ali Peeral Talpur, Agha Syed Mehr Ali Shah, and others, while addressing an important meeting of Noha Khwans from various cities of Sindh, held at Abbasi Library, Qasimabad.

They stated that if certain officials within the Auqaf Department do not cease these obstructive tactics, the Noha Khwans of Sindh will begin a series of visits across the province to mobilize Azadars for province-wide protests.

Following this, a major press conference will be held at the Karachi Press Club in January, during which a phase-wise protest movement will be announced against the regrettable conduct of the Auqaf Department.