SBP: Annual analysis report of fiscal year 2009-10 published

State Bank of Pakistan (SBP) has published the annual analysis report of fiscal year 2009-10. According to the bank the GDP (Gross Domestic Product) growth rate is expected to remain 2-3 percent during the current fiscal year.
The report published by the central bank also reveals that fiscal deficit rose to 6.3 percent exceeding the last year statistics by 1.1 percent. The report also explains that the recent deluge has caused a huge damage to the economic targets. This natural catastrophe affected the arable land and Khareef crop as well. Not only this but the massive floods also affected the infrastructure and the industrial units. Despite initial progress the issue of circular loans of the energy sector could not be resolved.
On the other hand current account deficit declined while the foreign exchange reserves increased tremendously.

UN seeks record two billion dollars for Pakistan disaster

UNITED NATIONS: The United Nations on Friday appealed for a record two billion dollars in emergency aid for the millions of victims of Pakistan’s devastating floods.

The Pakistan floods are “the worst natural disaster the United Nations has responded to in its 65-year history,” UN Secretary General Ban Ki-moon said at the launch of the appeal.

The floods caused by weeks of torrential rain have left less than 2,000 dead, according to an official toll, but the UN said the massive surge has exposed more than 20 million people to homelessness, malnutrition, risks of epidemics and loss of livelihood.

“We simply cannot stand by and watch the immense suffering in a disaster of this scale,” said Valerie Amos, the UN under secretary general for humanitarian affairs and emergency relief coordinator, announcing the mega-appeal.

The UN is seeking to focus more

IMF approves $451m loan for flood-hit Pakistan

WASHINGTON: The International Monetary Fund (IMF) on Wednesday announced it would give Pakistan a 451-million-dollar loan to help the country recover from devastating floods.

“The board’s approval enables the immediate disbursement of the full amount of this emergency assistance,” the Washington-based body said in a statement.

Monsoon floods, which began six weeks ago, have left 10 million people without shelter across the country, according to UN figures, with 21 million people affected and eight million surviving on aid handouts.

The IMF said they hoped the cash would “help the country manage the immediate aftermath of the massive and devastating floods that have hit the country” and spur more lending by international donors.

The loan is designed to help Pakistan fill the budget hole left by flooding.

“Pakistan’s economic outlook has

IMF approves 451-million-dollar loan for flood-hit Pakistan

The International Monetary Fund announced it would give Pakistan a 451-million-dollar loan to help the country recover from devastating floods.
The IMF said they hoped the cash would help the country manage the immediate aftermath of the massive and devastating floods that have hit the country and spur more lending by international donors.
The board’s approval enables the immediate disbursement of the full amount of this emergency assistance, the Washington-based body said in a statement.
The loan is designed to help Pakistan fill the budget hole left by flooding.

IMF approves 451-million-dollar loan for flood-hit Pakistan

The International Monetary Fund announced it would give Pakistan a 451-million-dollar loan to help the country recover from devastating floods.
The IMF said they hoped the cash would help the country manage the immediate aftermath of the massive and devastating floods that have hit the country and spur more lending by international donors.
The board’s approval enables the immediate disbursement of the full amount of this emergency assistance, the Washington-based body said in a statement.
The loan is designed to help Pakistan fill the budget hole left by flooding.

Holbrooke visits flood-hit Sindh

Staff Report

KARACHI: US special envoy for Pakistan and Afghanistan Richard Holbrooke visited flood relief camps in Thatta and Makli on Wednesday.

He said floods have brought devastation in Pakistan, adding that the international community will certainly help the affectees.

Promising continued support, he said Pakistan alone could not deal with the massive destruction.

The US envoy was told that Pakistan’s canal system needed immediate rehabilitation after being devastated by floods.

Holbrooke said the United States has provided $300 million and eight helicopters to help the flood victims.

Army continues relief, rescue operations in flood-hit areas

RAWALPINDI: The relief and rescue operations being carried out by Pakistan Army are underway for flood-effectees in floods-hit areas in various parts of country on Monday, Geo News reported.

Meanwhile, Pakistan Air Force (PAF) has provided relief goods weighing lb1.5 lacks to poor people caught in floods-plaque areas.

ISPR sources said Pakistan Army has also set up Control Centers at Chaklala, Tarbela and Abbotabad air bases.

A large number of army boats, 782, are participating in relief and rescue operations, sources said.

More than 32000 packets of food have been provided to flood-affectees in Pakistan.

As many as 7000 ration bags, 900 boats and 650 blankets have been dispatched to flood-ridden parts in three provinces.

Army’s eight helicopters are partaking in rescue operations in Southern Areas. 30 Core Gujranwala has sent 10 trucks laden with relief goods for affectees trapped in different parts of Khyber Pakhtunkhwa province.

A charter plane, carrying relief goods including food packets, drinking water bottles, blankets and boats, has flown for flood-affectees in parts of Sindh and Southern Punjab provinces.

First convoy comprising 10 trucks laden with relief goods has set out for affectees in Southern Punjab.

PAF sources said air headquarters in Islamabad has provided ration goods weighing 900 kilograms so far.

Meanwhile, Federal Minister for Law Babar Awan distributed relief goods in a relief camp while another minister for population Fidous Ashiq Awan visited the floods-stricken areas and distributed relief goods among affectees.

Water spills through security wall in Sukkur

SUKKUR: After wreaking havoc in various parts in Khyber Pakhtunkhua and Punjab, the massive flood tides have turned directions towards Sindh province while the security wall built along Indus River in Sukkur is witnessing cracks through which water has started spilling into city, Geo News reported Tuesday morning.

Heavy flood tides have sustained their might in River Indus at Guddu and Sukkur Barrages for last 15 hours as two barrages are being witnessed in exceptionally high floods.

Meanwhile, the security wall along riverside for protection of Sukkur district has seen cracked from 8 places, thus allowing water to spill into city while local people have kicked off rescue efforts to curtail spilling of water.

Army has also been called in Sukkur as over 35 villages have been submerged under floodwaters.

Many fields stretched at hundreds of acres and yielded with ripened crops have been washed away in areas abutting Sukkur District.

Efforts are being made in Ronti place of Obaro district to rescue 400 people caught in floodwater in a village, sources said.

Iran says it will not give up nuke program

DAMASCUS: An Iranian official says Americans must be dreaming if they think they can intimidate Tehran into giving up its nuclear program.

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Iran says it will not give up nuke program

UN: Pakistan flood misery exceeds tsunami

ISLAMABAD: The number of people suffering from the massive floods in Pakistan exceeds 13 million more than the combined total of the 2004 Indian Ocean tsunami, the 2005 Kashmir earthquake and the 2010 Haiti earthquake, the United Nations said Monday.

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UN: Pakistan flood misery exceeds tsunami

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