Home Blog Page 305

Pakistan records 7th wettest year in 2024, with extreme monthly swings

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):Pakistan experienced its seventh wettest year since 1961 in 2024, with national rainfall surging 31% above the long-term average, according to the Economic Survey 2024-25 report.
The country received 390.0 mm of rain—well above the 297.6 mm average—but the yearly total masked dramatic monthly fluctuations, from record-breaking downpours to severe droughts.
The year began with an alarming 72% rainfall deficit in January, followed by a sharp recovery in February and March.
April shattered records as the wettest in over six decades, with 164% more rain than usual. However, May saw a drastic reversal, becoming the second-driest May on record.
The monsoon season brought mixed results: August was the second-wettest in 64 years, with rainfall 147% above average, while September saw a 30% drop. The year ended with an exceptionally dry December, ranking as the 10th driest since 1961.
Experts highlight increasing climate volatility, noting that the all-time annual rainfall record of 526.9 mm—set just two years earlier in 2022—remains unchallenged.
The report underscores Pakistan’s vulnerability to extreme weather patterns, urging better water management and disaster preparedness.

Fiscal deficit financing met through domestic markets: Economic Survey

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):The government on Monday said that fiscal deficit financing was fully met through domestic markets, primarily via long-term domestic debt securities and the government retired Rs 2.4 trillion in Treasury Bills, reducing short-term maturities.
According to the Economic Survey of Pakistan 2024-25 launched here Monday, to diversify the investor base, a 2-year zero-coupon Pakistan Investment Bond (PIB) was also introduced.
Meanwhile, the total public debt stood at Rs 76,007 billion by end-March 2025, with domestic debt at Rs 51,518 billion and external debt at Rs 24,489 billion (US$ 87 billion), it added.
During July–March FY2025, interest expense on public debt totalled Rs6,439 billion, comprising Rs 5,783 billion on domestic debt and Rs 656 billion on external debt.
Alongside existing 3-year and 5-year Ijara Sukuk, a 10-year Sukuk instrument was launched with variable and fixed rates to expand Shariah-compliant options.
Under strategic Liability Management Operations, the government repurchased around Rs 1 trillion in government debt
securities through a Buyback and Exchange Programme. A 1-month Treasury Bill was introduced to address the short-term liquidity needs of specific investors.Shariah-compliant Sukuk issuances reached approximately Rs 1.6 trillion.
External budgetary inflows totaled US$ 5.1 billion: US$ 2.8 billion from multilateral sources, US$ 0.3 billion from bilateral partners, US$ 1.5 billion from Naya Pakistan Certificates, and US$ 0.56 billion from commercial banks. The government received US$ 1.03 billion under the IMF Extended Fund Facility.

MWL chief receives Pakistan’s chief justice, discusses Islamic justice principles

By
Zaka Ullah Ch
-
0
By Rehan Khan
MAKKAH, June 09 (APP):Secretary-General of the Muslim World League (MWL) and Chairman of the Organization of Muslim Scholars, Sheikh Dr. Mohammed Alissa received Chief Justice of Pakistan, Yahya Afridi in the Blessed Sanctuary the other day.
During the meeting, the two dignitaries held in-depth discussions on the foundational principles of Islamic justice, emphasizing their timeless relevance in upholding fairness, integrity, and the rule of law.
The dialogue also addressed growing global concerns over the erosion of fundamental justice values and underscored the need for renewed commitment to equitable judicial practices rooted in Islamic teachings.
The engagement highlighted the shared vision of strengthening international cooperation to promote justice, tolerance, and peace in line with the objectives of Islamic jurisprudence and human dignity.

Manufacturing sectors grew by 1.3pc in FY 2025

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):The manufacturing sector recorded a moderate growth of 1.3 percent in fiscal year 2025, according to the Pakistan Economic Survey 2024-25 launched by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here Monday.
Dspite overall macroeconomic stabilization, Large Scale Manufacturing (LSM) contracted by 1.5 percent during July–March FY2025. However, on a YoY basis, LSM grew by 1.8 percent in March 2025, slightly surpassing the 1.7 percent growth recorded in March 2024.
According to the Survey, persistent structural bottlenecks, elevated input costs and contractions in key sectors, including food, chemicals, iron and steel, and electrical equipment, continue to hinder a broad-based recovery in LSM.
According to the Survey, despite overall sluggishness, several high-weight sectors demonstrated notable resilience, including textiles (2.2 percent), wearing apparel (7.6 percent), coke and petroleum products (4.5 percent), pharmaceuticals (2.3 percent), and automobiles (40 percent).
The mining and quarrying sector contracted 3.4 percent in FY2025, slightly improving from the contraction of 4.0 percent recorded in the previous year.
During July–March FY2025, significant growth was recorded in the extraction of sulphur (341.9 percent), dolomite (43.3 percent), limestone (34.1 percent), marble (20.2 percent), and ocher (70.3 percent).
Some minerals experienced a decline, including crude oil (-14.8 percent), natural gas (-6.8 percent), coal (-5.7 percent), and iron ore (-20.2 percent).

Govt expands Prime Minister’s Youth initiatives to boost economic growth

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):During the last fiscal year, the government expanded the Prime Minister’s Youth Business and Agriculture Loan Scheme, introducing Tier-4 to finance laptop purchases and to support prospective overseas workers.                                                    As per Pakistan Economic Survey 2024-25 presented by Federal  Minister for Finance Senator Muhammad Aurangzeb on Monday, the government has expanded the Prime Minister’s Youth Business and Agriculture Loan Scheme and tier-4 has been added to provide financing for laptops.
The purpose of this scheme was to facilitate the youth in purchasing devices essential for academic and entrepreneurial pursuits.
Eligible applicants include students of Higher Education Commission-recognised institutions, freelancers, and entrepreneurs aged 18 to 30 years.
A Digital Youth Hub has been launched to provide information, and a National Youth & Adolescent Policy is being drafted in consultation with young people to address their concerns.
PM’s Youth Business and Agriculture Loan Scheme (PMYB&ALS) promoted entrepreneurship among youth by providing business loans on simple terms and with less markup through 15 Commercial, Islamic, and SME banks.                                                                          The initiative aims to equip young Pakistanis with the necessary skills, resources, and opportunities to become self-reliant and contribute meaningfully to the nation’s development.
The Prime Minister’s Youth Programme (PMYP) is a comprehensive initiative focusing on youth development through the 4Es Framework: Education, Employment, Engagement, and Environment. Under this umbrella, several key initiatives have been launched or expanded.
For the Overseas Workers scheme, a loan of upto Rs 1 million would be provided to cover skill training, travel and visa costs, and initial settlement expenses.
Eligible applicants include workers aged 21 to 45 with a valid job letter or recruitment through the licensed Overseas Employment Promoters.
The loan tenor will be up to five years, with repayment in equal monthly installments. Furthermore, Pakistan Education Endowment in which 861 scholarships were awarded across Pakistan by the Pakistan Education Endowment Fund (PEEF), with a total of 250 million rupees disbursed.
This marked the disbursement of scholarships to students nationwide, providing them with the opportunity to pursue their educational aspirations.
Notably Prime Minister’s Digital Youth Hub (DYH) marked a significant step toward connecting Pakistan’s youth to all opportunities under the four core areas of PMYP.
A Digital Youth Hub was being developed via PMYP’s with support from UNICEF – Generation Unlimited, which is Pakistan’s first national platform designed to connect youth with these opportunities.                                                               This programme will further empower youth by providing AI-driven recommendations and personalized access to resources, supporting growth and development.  Pakistan is actively developing a National? Adolescent and Youth Policy.                                                                        The Prime Minister’s Youth Programme is leading the effort in collaboration with UNICEF through Generation Unlimited.
This policy aims to directly address the needs and aspirations of adolescents and youth in the country.
The government is also working on a National Adolescent and Youth Policy in collaboration with UNICEF, aimed at addressing the specific needs and aspirations of the country’s youth.
These initiatives underscore the government’s commitment to leveraging the potential of Pakistan’s young population for sustainable economic growth and development.
By investing in its youth, Pakistan is positioning itself for a brighter future, with potential for large-scale job creation and economic growth driven by green and digital transitions.

HEC launches major reforms and development projects to strengthen higher education in Pakistan

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):The Higher Education Commission (HEC) has continued its pivotal role in shaping the future of higher education in Pakistan through strategic reforms and targeted investments in the sector. Since its inception in 2002, the HEC has aimed to expand access, improve quality and align higher education with the country’s developmental needs.
According to the Economic Survey 2024-25 released on Monday, despite progress in increasing enrollment, Pakistan still trails behind global standards, prompting renewed efforts during FY 2025 to bridge the gap.
Between July and March of FY 2025, the HEC spearheaded a wide range of initiatives under the Public Sector Development Programme (PSDP) 2024–25, backed by a federal allocation of Rs 61.12 billion. This funding supports 159 development projects, including 138 ongoing and 21 new initiatives across public sector universities. Notably, Rs 12 billion has been dedicated to Phase-IV of the Prime Minister’s Youth Laptop Scheme, while Rs 9 billion has been retained specifically for this program.
Key projects include the establishment of five National Centers in cutting-edge fields such as Nanotechnology, Quantum Computing, Advanced Manufacturing, Brand Development, and a Growth Center. Other major efforts comprise the launch of the PM’s National Volunteer Corps, the creation of the National Institute of Intelligence and Security Studies (NIISS), and the National Cyber Security Academy (NCSA).
Aligned with the national vision “URAAN Pakistan,” the HEC is focusing on accelerating the development of human capital and modernizing IT infrastructure within the higher education system.
This includes provisioning of 100,000 laptops to students, and deploying high-tech solutions like Centralized Data Centers, High Performance Computing (HPC), Enterprise Resource Planning (ERP) for universities, Learning Management Systems (LMS), and Smart Campuses and Classrooms.
Moreover, under the “Equity and Empowerment” theme, HEC has prioritized expanding access and improving quality in underserved regions such as Balochistan, Southern Punjab, Interior Sindh, Merged Areas of Khyber Pakhtunkhwa, AJK, and Gilgit Baltistan. As of April 2025, Rs 32.6 billion has already been disbursed for university development projects, with 26 projects scheduled for completion this fiscal year and 18 already fully funded.

Pakistan plans to boost local coal, gas production to meet energy demand

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):Pakistan is working to increase its domestic coal and natural gas production in the coming years to meet the country’s growing energy needs through local and sustainable sources.
According to the Pakistan Economic Survey 2024-25, presented by Finance Minister Muhammad Aurangzeb, coal output is expected to rise as mining begins at Thar Coalfield Block-I and operations expand at Block-II.
Coal continues to be an important energy source in Pakistan, mainly for electricity generation. From July to March FY 2025, the power sector used 69.7% of the country’s coal, about 11.28 million tonnes. The cement and other industries consumed 16.1% (2.6 million tonnes), while brick kilns used 14.2% (2.29 million tonnes). Power plants at Thar Coalfield mostly rely on local coal, but imported coal is still used by other sectors.
At the same time, the government is encouraging greater use of natural gas, which is known for being clean, safe, and efficient. In FY 2024, local natural gas made up 29.3% of the country’s total primary energy supply.
Pakistan has a vast gas pipeline network stretching over 218,000 kilometres, serving more than 10.7 million customers across the country. To meet demand, Regasified Liquefied Natural Gas (RLNG) is also being imported. The country currently has a re-gasification capacity of 1,200 million cubic feet per day (MMCFD) through two Floating Storage Regasification Units (FSRUs).
From July to March FY 2025, Pakistan’s average daily gas use was 3,143 MMCFD, including 798 MMCFD from RLNG. The largest consumers were the power sector (973 MMCFD), households (777 MMCFD), and the fertiliser industry (764 MMCFD).
During this period, 13,591 new gas connections were provided—11,755 for homes, 1,786 for businesses, and 50 for industries. Gas companies SNGPL and SSGCL also laid 1,221 kilometres of main pipelines and 65 kilometres of service lines, extending supply to 84 new villages and towns.
These steps reflect the government’s focus on increasing local energy production to strengthen energy security and reduce dependence on imports.

Agriculture sector grew by 0.56% in FY 2024-25:Economic Survey

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):The agriculture sector in the country grew by 0.56 per cent during the fiscal year 2024-25 as compared to the same period of the last year, according to the Economic Survey of Pakistan 2024-25 launched here on Monday.
During the period under review livestock sector observed a 4.72 per cent growth, forestry by 3.30 per cent, and the fisheries sector grew by 1.42 per cent, the survey revealed.
According the survey, the fertilizer off-take during the period under review was recorded at 3.4 million tons, whereas the availability reached to 714.6 million tons.
The sector’s share in GDP declined slightly to 23.54 per cent in fiscal year 2025, as it went down from 24.03 per cent as compared to the same period of the last year, it added.
The Important crops during the period under review declined by 13.49 per cent due to reduced cultivation area and adverse weather conditions, significantly affecting cotton (-30.7%), wheat (-8.9%), sugarcane (-3.9%), maize (-15.4%),
and rice (-1.4%).
The cotton production was recorded at 7.08 million bales, sugarcane 84.24 million tonnes, wheat 28.98 million
tonnes, and rice at 9.72 million tonnes respectively during the period under review.
The other crops grew by 4.78 per cent, driven by robust performances in potato (11.5%), onion (15.9%), and
mash (4.7%).
Cotton ginning lost momentum, declining by 19.03 per cent compared to a growth of 47.23 per cent in the previous year, whereas the livestock sector, contributing 63.60 per cent to agriculture and 14.97 per cent to national GDP, grew by 4.72 per cent in fiscal year 2025, up from 4.38 per cent the previous year, the survey revealed.
The forestry sector recorded a growth of 3.03 per cent, maintaining a steady contribution of 2.31 per cent to agriculture and 0.54 per cent to GDP. The fisheries sector grew by 1.42 per cent, improving from 0.81 per cent last year, with a sectoral share of 1.31 per cent in agriculture and 0.31 per cent in GDP.

NDA increased by Rs 441.4b, consumer financing showed recovery: Economic Survey

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):Net Domestic Assets (NDA) of the banking sector increased by Rs 441.4 billion, compared to a rise of Rs 1,567.8 billion last year, whereas the private sector borrowed Rs 767.6 billion, significantly higher than Rs 265.2 billion recorded during the same period last year.
According to the Economic Survey of Pakistan 2024-25 launched here Monday, the consumer financing showed a robust recovery, with a net increase of Rs 71.4 billion compared to a net retirement of Rs 52.6 billion during the same period last year.
In the first 9 months of the current financial year, Broad Money (M2) grew by 4.5 per cent (Rs 1,604.1 billion), compared to 7.2 percent growth (Rs 2,219 billion) last year. Net Foreign Assets (NFA) rose by Rs 1,162.7 billion during the period, compared to an increase of Rs 651.2 billion last year, it added.
During July–March FY2025, currency in circulation increased by Rs 1,108 billion, compared to a decline of Rs 498 billion in the previous year, whereas the bank deposit mobilization amounted to Rs 490 billion, significantly lower than Rs 2,706 billion recorded in the previous year, the survey revealed.
On May 5, 2025, the Monetary Policy Committee decided to reduce the policy rate to 11 percent, reflecting a substantial
cumulative reduction from the previous peak of 22 percent last fiscal year, it said, adding that the monetary easing reflects sustained inflation moderation, primarily driven by declining domestic food prices due to improved agricultural supply.
Additionally, easing global energy prices and their pass-through to domestic fuel and electricity costs have contributed to the overall disinflationary trend.

Govt allocates 92.1 billions to boost education in PSDP 2025

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 9 (APP):Despite fiscal constraints, the federal and provincial governments have reaffirmed their commitment to education and skills development through significant investments outlined in the Public Sector Development Programme (PSDP) for FY 2025.
According to the Economic Survey 2024-25, released on Monday, a total of Rs 92.1 billion has been earmarked for the education sector nationwide, with Rs 20.75 billion allocated by the Ministry of Federal Education and Professional Training for 22 projects, including two new Daanish Schools in Islamabad Capital Territory, Azad Jammu & Kashmir, Gilgit-Baltistan, and Balochistan.
Similarly, provincial governments have introduced expansive initiatives to enhance infrastructure, improve access, and raise the quality of education. Punjab leads with a Rs 65.5 billion allocation for 142 development projects, including Rs 42.5 billion for school education and Rs 17 billion for higher education. Major components involve public-private partnerships under the Punjab Education Foundation and international collaborations such as the GRADES project.
However, Sindh has allocated Rs 48.03 billion for 713 education sector schemes, emphasizing foundational education, construction of shelter-less schools, and the rehabilitation of existing facilities. Priorities include teacher training, literacy, and inclusive learning environments.
Khyber Pakhtunkhwa (KP) has allocated Rs 15.26 billion for 156 education projects, with a focus on marginalized communities, including girls, special children, and residents of the Newly Merged Districts. Emphasis is placed on infrastructure upgrades and continuity in education.
Balochistan, facing persistent educational challenges, has outlined Rs 48.47 billion for education, with Rs 20.42 billion for higher education and Rs 28.04 billion for secondary education across 557 projects. The province is focused on translating investments into long-term socio-economic gains.
Azad Jammu and Kashmir (AJK) has dedicated Rs 3 billion to 22 schemes, including 11 new initiatives targeting improvements across all levels of school education. Gilgit-Baltistan has allocated Rs 197.48 million for projects that improve learning facilities, transport, early childhood education, and the digital transformation of schools.
1...304305306...27,703Page 305 of 27,703

ABOUT US

Serving the nation since 1947 by providing an accurate, objective, uninterrupted flow of news to the people, the national news service is pursuing a comprehensive strategy to transform the existing news operations into a forward-looking service – APP Digital for its diverse subscriber-base and the public.

Contact us: news@app.com.pk

FOLLOW US

Copyright © Associated Press of Pakistan