KARACHI: Pakistan's central bank held its main policy rate at 13.25% on Friday, taking a second consecutive pause from a series of previous hikes as data pointed to a stabilizing inflation rate.
The bank last lifted rates in July by 100 basis points, raising the interest rate to 13.25%, its ninth cut since the start of 2018, as it faced rising inflation, a substantial current account deficit and downward pressure on the rupee currency.
The decision comes at a time of scrutiny for Pakistan's economy by the International Monetary Fund, which is reviewing progress on reforms agreed as part of bailout package in July.
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Pakistan's central bank holds key interest rate at 13.25%
Pakistan's central bank holds key interest rate at 13.25%
- SBP last lifted rates in July by 100 basis points
- The decision was taken since official data pointed to a stabilization of inflation rate
Highlights from the winning entries in the Hamdan bin Mohammed bin Rashid Al Maktoum International Photography Award
DUBAI: Here are three highlights from the winning entries in this year’s Hamdan bin Mohammed bin Rashid Al Maktoum International Photography Award.
Youmn Mohammed Almanla
The Saudi photographer claimed second place in the ‘Color’ category of this year’s HIPA awards for this stunning image of horse riders firing rifles against a twilight sky — an example of the ancient Moroccan equestrian art known as ‘tbourida,’ which is included on UNESCO’s list of Intangible Cultural Heritage. It is, Almanla said in his statement, “a breathtaking display of skill, bravery, and the untamed spirit of the desert.”
Liping Cao
The Chinese photographer picked up the Grand Prize at this year’s awards (staged under the theme ‘Sustainability’) for this dramatic black-and-white shot he named “Quiet Power.” It shows an Australian wind farm. “The dry riverbed below the turbines adds depth, while serving as a reminder of the importance of sustainable practices,” a statement from HIPA reads.
Fatma Alzahra Shbair
The Palestinian photographer won first prize in the “Portfolio” category for a collection of scenes from the Gaza Strip taken over the months since Israel launched its assault on the enclave in October 2023. “Through telling the stories of others, the storyteller realized they were also sharing their own — an intertwined account of survival and collective suffering,” a HIPA statement reads.
Pakistan deploys mobile air monitoring stations in Lahore amid toxic smog
- Each station costs over $322,000, equipped for real-time air quality data
- Smog has enveloped Lahore, Pakistan’s cultural capital, since last month
ISLAMABAD: Authorities in Pakistan’s populous Punjab province have deployed five mobile air quality monitoring stations in Pakistan’s eastern Lahore city, each costing over Rs90 million ($322,000), amid worsening smog conditions, state-run media reported on Thursday.
Lahore, consistently ranked as the world’s most polluted city in live IQAir rankings in recent weeks, is facing hazardous air quality due to cold atmospheric conditions trapping dust, vehicle emissions and smoke from illegally burned fires.
The toxic smog, which has spread to 17 other districts in Punjab, has caused over 40,000 cases of respiratory illnesses this month, according to health officials, prompting authorities to close schools until November 17.
“The Punjab government has established five mobile air quality monitoring stations in Lahore to track the city’s air quality index,” Radio Pakistan reported.
It quoted the Punjab Environment Protection Department official Farooq Alam as saying the mobile stations had been placed in highly polluted areas, such as the Defense Housing Authority, Model Town, Gulberg, Bhatta Chowk and near Shimla Pahari.
Alam told Radio Pakistan that “each mobile monitoring station costs over ninety million rupees,” adding that they are equipped with advanced technology to collect real-time air quality data.
The Punjab administration official, however, did not mention any sustainable solution to the worsening smog condition, which has become a regular feature during the winter season.
Meanwhile, Punjab’s Provincial Disaster Management Authority has urged people to wear face masks as a precautionary measure against smog and to avoid venturing out unnecessarily.
The United Nations children’s agency has warned that the health of 11 million children in Punjab is at risk due to air pollution.
According to a study by the University of Chicago’s Energy Policy Institute last year, pollution could reduce life expectancy in the region by more than five years.
As Philippines picks up from Usagi, a fresh storm bears down
- Typhoon Usagi blew out of the Philippines early Friday as another dangerous storm drew closer
- Scores were killed by flash floods and landslides just weeks ago, the weather service said
MANILA: Typhoon Usagi blew out of the Philippines early Friday as another dangerous storm drew closer, threatening an area where scores were killed by flash floods and landslides just weeks ago, the weather service said.
As Usagi — the archipelago nation’s fifth storm in three weeks — headed north to Taiwan, rescuers worked to reach residents stranded on rooftops in northern Luzon island, where herds of livestock were devastated.
The recent wave of disasters has killed at least 159 people and prompted the United Nations to request $32.9 million in aid for the worst-affected regions.
On Thursday, flash floods driven by Usagi struck 10 largely evacuated villages around the town of Gonzaga in Cagayan province, local rescue official Edward Gaspar told AFP by phone.
“We rescued a number of people who had refused to move to the shelters and got trapped on their rooftops,” Gaspar added.
While the evacuation of more than 5,000 Gonzaga residents ahead of the typhoon saved lives, he said two houses were swept away and many others were damaged while the farming region’s livestock industry took a heavy blow.
“We have yet to account for the exact number of hogs, cattle and poultry lost from the floods, but I can say the losses were huge,” Gaspar said.
Trees uprooted by flooding damaged a major bridge in Gonzaga, isolating nearby Santa Ana, a coastal town of about 36,000 people, Cagayan officials said.
“Most evacuees have returned home, but we held back some of them. We have to check first if their houses are still safe for habitation,” Bonifacio Espiritu, operations chief of the civil defense office in Cagayan, told AFP.
By early Friday, Usagi was over the Luzon Strait with a reduced strength of 120 kilometers (75 miles) an hour as it headed toward southern Taiwan, where authorities had downgraded the typhoon to a tropical storm.
But the streak of violent weather was forecast to continue in the central Philippines, where Severe Tropical Storm Man-yi is set to reach coastal waters by Sunday.
The weather service said it could potentially strike at or near the heavily populated capital Manila.
A UN assessment said the past month’s storms damaged or destroyed 207,000 houses, with 700,000 people forced to seek temporary shelter.
Many families were without essentials like sleeping mats, hygiene kits and cooking supplies, and had limited access to safe drinking water.
Thousands of hectares of farmland were destroyed and persistent flooding was likely to delay replanting efforts and worsen food supply problems, the report added.
About 20 big storms and typhoons hit the Southeast Asian nation or its surrounding waters each year, killing scores of people and keeping millions in enduring poverty, but it is unusual for multiple such weather events to take place in a small window.
The weather service said this tends to happen during seasonal episodes of La Nina, a climatic phenomenon in the Pacific Ocean that pushes more warm water toward Asia, causing heavy rains and flooding in the region and drought in the southern United States.
North Korea tests exploding drones as Kim Jong Un calls for mass production
- Tensions in the region have escalated as Kim flaunts his advancing nuclear and missile program
SEOUL: North Korea tested exploding drones designed to crash into targets and leader Kim Jong Un called for accelerating mass production of the weapons, state media said Friday.
The country’s latest military demonstration came as the United States, South Korea and Japan engaged in combined military exercises involving advanced fighter jets and a US aircraft carrier in nearby international waters, in a display of their defense posture against North Korea.
North Korea’s official Korean Central News Agency published photos of Kim talking with officials near at least two different types of unmanned aerial vehicles. They included those with X-shaped tails and wings that look similar to the ones the country disclosed in August, when Kim inspected another demonstration of drones that explode on impact.
The drones flew various routes and accurately struck targets, KCNA said. Its images showed what appeared to be a BMW sedan being destroyed and old models of tanks being blown up.
Kim expressed satisfaction with the weapons’ development process and stressed the need to “build a serial production system as early as possible and go into full-scale mass production,” noting how drones are becoming crucial in modern warfare.
KCNA paraphrased Kim as saying drones were easy to make at low cost for a range of military activities. The report didn’t say if Kim spoke directly about rival South Korea, which the North Korean drones are apparently designed to target.
North Korea last month accused South Korea of sending its own drones to drop anti-North Korean propaganda leaflets over the North’s capital of Pyongyang, and threatened to respond with force if such flights occur again. South Korea’s military has refused to confirm whether or not the North’s claims were true.
Tensions in the region have escalated as Kim flaunts his advancing nuclear and missile program, which includes various nuclear-capable weapons targeting South Korea and intercontinental ballistic missiles that can potentially reach the US mainland.
Kim is also allegedly sending military equipment and troops to Russia to support President Vladimir Putin’s war on Ukraine, which raised concerns in Seoul that he would get Russian technology in return to further develop his arsenal.
In addition to his intensifying nuclear threats, Kim has also engaged in psychological and electronic warfare against South Korea, such as flying thousands of balloons to drop trash in the South and disrupting GPS signals from border areas near the South’s biggest airport.
South Korean officials say North Korea will be a key topic in a trilateral summit between South Korean President Yoon Suk Yeol, US President Joe Biden and Japanese Prime Minister Shigeru Ishiba this week at the Asia-Pacific Economic Cooperation meetings in Peru.
South Korean Foreign Minister Cho Tae-yul and US Secretary of State Antony Blinken met on the margins of the APEC on Thursday and discussed “strong concerns” over deepening ties between Pyongyang and Moscow, particularly the deployment of North Korean troops to support Russia’s war against Ukraine, the US State Department said.
New polio case reported in Pakistan, taking 2024 tally to 49
- In early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases
- This year, 24 cases reported in Balochistan, 13 in Sindh, 10 in KP and one each in Punjab and Islamabad
ISLAMABAD: Pakistan’s anti-polio program said on Friday the country had reported a new case of the polio virus in the southwestern Balochistan province, taking the nationwide tally to 49 this year.
A new case was reported from Jaffarabad in Balochistan, according to updated figures on the website of the Pakistan Polio Eradication Program.
Pakistan, along with neighboring Afghanistan, remains the last polio-endemic country in the world. Starting from late 2018, Pakistan saw a resurgence of cases and increased spread of polio, highlighting the fragility of gains achieved in the preceding three years.
“Genetic sequencing of the samples collected from the child is under process,” the polio program said in a statement.
This year, 24 cases have been reported in Balochistan, 13 in Sindh, 10 in Khyber Pakhtunkhwa and one each in Punjab and the federal capital of Islamabad. In the early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.
Pakistan’s polio eradication program began in 1994, and the number of cases has declined dramatically since then.
But Pakistan continues to face challenges in its fight against polio, including militancy, with polio workers regularly targeted by attacks, particularly in the northwestern KP province.
The polio program has adapted to respond to climate disasters such as floods, but continues to face disruptions. There are also gaps in supplementary immunization activities, especially in areas where the virus is still present.
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