Pakistan announces $50 million assistance for climate startups

Pakistan announces $50 million assistance for climate startups
A man walks atop boats moored on the banks of river Ravi engulfed in smog in Lahore on November 13, 2024. (AFP)
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Updated 13 November 2024
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Pakistan announces $50 million assistance for climate startups

Pakistan announces $50 million assistance for climate startups
  • Project seeks to attract private investment in climate-tech ventures
  • Initiative is backed by $25 million commitment from Green Climate Fund

ISLAMABAD: The Pakistan government has launched Climaventures, an initiative led by the National Rural Support Programme (NRSP) under which it will provide $50 million in assistance to climate-tech startups, Radio Pakistan reported on Wednesday. 

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.

“Under this project, an investment of fifty million dollars will be made … aimed at providing technical guidance, grants and equity to climate startups," said Radio Pakistan, reporting on the Climaventures initiative. 

“This project will increase private sector investment to deal with climate related challenges in Pakistan.”

In a video posted on X last week by NRSP, Georges Sander, a climate investment specialist, said Climaventures was exciting as it supported “local entrepreneurs […] develop local solutions for local climate problems”.

The $50 million project is designed to attract private investment in climate ventures, NRSP said.

With a core $25m funding commitment from the Green Climate Fund (GCF), Climaventures says it aims to address Pakistan’s funding gaps for sustainable solutions by offering technical guidance, grants and equity for climate-focused startups.

It is the first initiative of its kind in Pakistan and brings together key stakeholders, including government officials, international organizations like the World Bank and ADB, and climate entrepreneurs.


Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters

Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters
Updated 36 sec ago
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Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters

Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters
  • Simulation exercise involved scenarios such as severe blizzard, smog and earthquakes
  • Law enforcement agencies, disaster management authorities partake in two-day exercise

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) concluded a two-day “Winter Freeze” simulation exercise (SimEx) on Wednesday to strengthen the country’s disaster preparedness and response mechanism against winter-related disasters such as cold weather, smog and earthquakes. 

Simulation exercises are used to test and improve a community’s preparedness for disasters and help it prepare contingency plans. 

Pakistan is ranked as the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, devastating floods affected over 33 million people and caused economic losses exceeding $30 billion, highlighting the country’s high susceptibility to extreme weather events.

“The National Disaster Management Authority (NDMA) conducted a National Simulation Exercise (SimEx), titled ‘Winter Freeze’ from 3rd to 4th December 2024 at NDMA HQs,” the NDMA said. 

It said the simulation included a series of challenging scenarios such as a severe blizzard hitting Pakistan’s northern areas that triggered snowstorms, road blockages and power outages and caused tourists to be stranded in different parts of the country.

“The exercise also simulated a major earthquake in northern Balochistan and southern Khyber Pakhtunkhwa, testing the effectiveness of rescue operations, medical response and mobilization of humanitarian response in remote areas,” the authority said. 

Heavy smog covered parts of Pakistan’s Punjab province in October and November while the country has suffered from devastating earthquakes, floods and other disasters in the past. 

The simulation also addressed severe smog conditions in Punjab, particularly in Lahore, focusing on the health impacts, emergency medical responses and measures to prevent the dangers of air pollution, the NDMA added. 

The provincial disaster management authorities, the Gilgit-Baltistan Disaster Management Authority (GBDMA), law enforcement bodies and representatives of humanitarian organizations participated in the exercise. 

“Participants acknowledged the platform provided by NDMA for preparedness and timely measures to deal with disasters and also gave their feedback and suggestions so that possible future disasters can be avoided,” the NDMA said.


China tops list of Pakistan’s bilateral lenders followed by Saudi Arabia— World Bank

China tops list of Pakistan’s bilateral lenders followed by Saudi Arabia— World Bank
Updated 04 December 2024
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China tops list of Pakistan’s bilateral lenders followed by Saudi Arabia— World Bank

China tops list of Pakistan’s bilateral lenders followed by Saudi Arabia— World Bank
  • China’s share of Pakistan’s total external liabilities stands at 22 percent, Saudi Arabia’s at 7 percent
  • Islamabad has eyed trade, investment with Riyadh and Beijing to ward off economic crisis

ISLAMABAD: China remains Pakistan’s biggest lender with its debt comprising 22 percent of Islamabad’s total external liabilities, followed by Saudi Arabia with its share of debt comprising seven percent, the World Bank said in its latest report this week. 
According to the annual International Debt Report 2024 released by the World Bank on Tuesday, Pakistan’s total debt in the report showed that Islamabad’s total external debt stood at $130.847 billion at the end of 2023. China remains Pakistan’s top bilateral creditor with its debt comprising 22 percent of Pakistan’s total external liabilities or $28.786 billion.

Saudi Arabia comes in second place with its debt comprising 7 percent of Pakistan’s total external liabilities or $9.16 billion. 

The South Asian region saw the biggest yearly increase in interest payments in 2023, the report said. 
“The increase was most noticeable in Bangladesh and India, whose interest payments increased by more than 90 percent in 2023,” the World Bank’s report said. “Pakistan made the second-largest interest payments in the region.”

The World Bank’s share of debt comprises 18 percent of Pakistan’s total external liabilities, the Asian Development Bank’s comprises 15 percent while other multilateral creditors’ debt comprises 13 percent of Islamabad’s external debts. 

Other bilateral lenders’ share comprises 8 percent of Islamabad’s total external liabilities while bondholders comprise 8 percent as well. 

Pakistan considers China and Saudi Arabia close regional allies that have invested in the South Asian country for trade and investment purposes. Beijing has invested billions in Pakistan for an infrastructure project that Islamabad hopes will modernize its economy and improve its infrastructure considerably. 

Pakistan and Saudi Arabia also enjoy close economic ties. The Kingdom and Islamabad in October signed agreements, including investments in agriculture, semiconductor manufacturing, and energy, worth $2.8 billion.

Pakistan has increasingly eyed closer cooperation with the two countries, with a keen focus on enhanced trade and investment, as it attempts to break free of a macroeconomic crisis that has drained its resources and weakened its national currency. 

Islamabad last year avoided a sovereign default by clinching a last-gasp $3 billion loan deal from the International Monetary Fund (IMF). After a fresh 37-month bailout program and declining inflation this year, Pakistan’s economy has registered some gains, with its stock market enjoying a bullish trend for days.


Pakistan calls for independent commission on minorities, activating mosques as community centers

Pakistan calls for independent commission on minorities, activating mosques as community centers
Updated 04 December 2024
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Pakistan calls for independent commission on minorities, activating mosques as community centers

Pakistan calls for independent commission on minorities, activating mosques as community centers
  • Non-Muslims constitute about three percent of Pakistan’s estimated population of 240 million
  • Pakistan’s minorities regularly come under attack by militant groups, complain of discrimination

ISLAMABAD: Pakistan on Wednesday called for granting financial and administrative autonomy to the National Commission for Minorities and said an interfaith harmony policy should be launched to activate mosques as community centers to promote religious tolerance. 
Non-Muslims constitute about three percent of Pakistan’s estimated population of 240 million people. Pakistan’s minority communities complain of facing discrimination in nearly all walks of life and regularly come under attack by militant groups. They have also sometimes been accused of blasphemy, which is punishable by death in the South Asian nation.
On Wednesday, the Prime Minister’s Adviser on Political Affairs and Federal Minister for Inter-Provincial Coordination, Rana Sanaullah, chaired a meeting in Islamabad to review the National Commission for Minorities Bill 2024. Law Minister Azam Nazeer Tarar proposed at the meeting to make the National Commission for Minorities “independent and autonomous from ministerial pressure.”
“The subcommittee also proposed granting financial and administrative autonomy to the commission. The commission will consist of 13 members, 9 of whom will be from minority communities,” the ministry of religious affairs said in a statement. 
“The committee directed the Ministry of Law and Justice to finalize the National Commission for Minorities Bill 2024 within three days.”
A new interfaith harmony policy for promoting religious tolerance was also reviewed. 
“Sanaullah emphasized the significant importance of mosques in Islam and suggested that the interfaith harmony policy should include a proposal to activate mosques as community centers,” the statement said. 
“The committee directed the Ministry of Religious Affairs and Interfaith Harmony to present the interfaith harmony policy and the policy for promoting religious tolerance to the federal cabinet meeting for final approval, incorporating the subcommittee’s amendments related to both policies.”


With Champions Trophy looming, Pakistan rest Afridi for South Africa tests

With Champions Trophy looming, Pakistan rest Afridi for South Africa tests
Updated 04 December 2024
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With Champions Trophy looming, Pakistan rest Afridi for South Africa tests

With Champions Trophy looming, Pakistan rest Afridi for South Africa tests
  • Pakistan wants to keep the speedster fresh for the Champions Trophy at home next year
  • Left-arm quick picked for six limited-overs matches in South Africa beginning Dec. 10

LAHORE: Speedster Shaheen Afridi has been left out of Pakistan’s squad for a two-test series in South Africa in a bid to keep him fresh for the Champions Trophy at home next year, the country’s cricket board said on Wednesday.
However, the left-arm quick has been picked for six limited-overs matches in South Africa beginning on Dec. 10, the Pakistan Cricket Board (PCB) said in a statement.
“Shaheen Afridi, who also missed the last two tests against England, has been picked for the white-ball matches as part of his workload management so that he is in his best fitness and form for the ICC Champions Trophy 2025,” the statement read.
Fellow fast bowler Naseem Shah and batting mainstay Babar Azam, both of whom missed the last two matches against England, were recalled for the test matches in Centurion and Cape Town.
Off-spinner Sajid Khan, whose tally of 19 wickets in two tests was key to Pakistan’s 2-1 series victory against England in October, was dropped.
“Leaving out Sajid Khan, despite his stellar performances against England, was an extremely tough and difficult decision,” selector and interim test team coach Aqib Javed said.
“However, considering the pace-friendly conditions at Centurion and in Cape Town, we opted for Mohammad Abbas instead, who is an outstanding exponent of seam bowling.”
Pakistan squads:
Tests: Shan Masood (captain), Saud Shakeel, Aamir Jamal, Abdullah Shafique, Babar Azam, Haseebullah (wicketkeeper), Kamran Ghulam, Khurram Shahzad, Mir Hamza, Mohammad Abbas, Mohammad Rizwan (wicketkeeper), Naseem Shah, Noman Ali, Saim Ayub and Salman Ali Agha
ODI: Mohammad Rizwan (captain and wicketkeeper), Abdullah Shafique, Abrar Ahmed, Babar Azam, Haris Rauf, Kamran Ghulam, Mohammad Hasnain, Muhammad Irfan Khan, Naseem Shah, Saim Ayub, Salman Ali Agha, Shaheen Afridi, Sufyan Moqim, Tayyab Tahir and Usman Khan (wicketkeeper)
T20I: Mohammad Rizwan (captain and wicketkeeper), Abrar Ahmed, Babar Azam, Haris Rauf, Jahandad Khan, Mohammad Abbas Afridi, Mohammad Hasnain, Muhammad Irfan Khan, Omair Bin Yousuf, Saim Ayub, Salman Ali Agha, Shaheen Afridi, Sufyan Moqim, Tayyab Tahir and Usman Khan (wicketkeeper)


Imran Khan’s party has ‘history of lawlessness,’ Pakistani deputy PM tells diplomatic corps

Imran Khan’s party has ‘history of lawlessness,’ Pakistani deputy PM tells diplomatic corps
Updated 04 December 2024
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Imran Khan’s party has ‘history of lawlessness,’ Pakistani deputy PM tells diplomatic corps

Imran Khan’s party has ‘history of lawlessness,’ Pakistani deputy PM tells diplomatic corps
  • Ishaq Dar briefs diplomats on recent protests by PTI and government actions to disperse demonstrators
  • The PTI says at least 20 of its supporters have been killed, while the government says four troops died

ISLAMABAD: Deputy Prime Minister Ishaq Dar said on Wednesday the Pakistan Tehreek-e-Insaf of jailed ex-premier Imran Khan had a “history of lawlessness,” as he briefed the diplomatic corps on recent protests by the party and government actions to disperse demonstrators. 
Thousands of PTI supporters had gathered in Islamabad’s historic D-Chowk square last month to demand Khan’s release from prison. The protest convoy broke through several lines of security and reached the edge of the capital’s highly fortified red zone, home to key government and diplomatic buildings. The protest was called off after security forces carried out a midnight raid on the site, with the government saying it used rubber bullets and tear gas but no live ammunition. 
The PTI says at least 20 of its supporters have been killed, while the government says four troops died. The PTI has also said “hundreds” of its supporters had been hospitalized with gunshot wounds and the government was attempting to cover up the extent of the deaths and injuries, which state authorities deny. Meanwhile, social media platforms have been awash for days with pictures and video footage of the injured and dead that the government has called “fake propaganda,” insisting there were no civilian casualties.
Briefing diplomats at the Foreign Office in Islamabad on Wednesday, Dar reiterated that law enforcement agencies were not provided live ammunition but used water cannons, tear gas and batons.
“Our priority has always been to take care of the red zone … And we are very conscious that our valuable ambassadors, high commissioners, their colleagues, they are all housed in that area so this has always been a priority during our governance that we make sure that this area, which we call the red zone, is free from any protests or any violence,” the deputy PM said. 
For this purpose, Dar explained, parliament passed a law this year, the Peaceful Assembly and Public Order Act 2024, to streamline the process for obtaining permission to hold public gatherings in Islamabad and designating specific areas and timings for such activities. 
Prior to the start of the PTI’s protest on Nov. 24, a Pakistani court had also ruled that the party would not be allowed to demonstrate in the red zone, but should engage with the government and be designated an alternative location.
“The government obviously tried its best, the ministry of interior engaged them [PTI], there were long sessions of three days but nothing came out of it,” Dar said. “They were insistent that law or no law, that we will come in the red zone, so unfortunately [there is] a history of lawlessness in this party.”
The deputy foreign minister, who also serves as the country’s foreign minister, also said the party had a history of announcing protests during visits by foreign dignitaries. 
The November protest coincided with a visit to Pakistan of the president of Belarus while protests in October, which the PTI later called off, had been planned on the days of a key Shanghai Cooperation Organization summit in Islamabad. 
“This shows mala fide intent,” Dar added. 
On Tuesday, Prime Minister Shehbaz Sharif vowed legal action against “rioters” involved in the PTI’s anti-government protests as the party decried a state-backed crackdown against its supporters.
In the aftermath of the protests, Sharif has formed two task forces: one to identify and take legal action against rioters and another to track and bring to justice suspects behind what the government describes as a “malicious campaign” to spread “concocted, baseless and inciting” online news, images and video content against the state and security forces.