Karachi braces for weekend rains as billions lost to drenches this week

Men push a truck through a flooded road during monsoon rain, as the outbreak of the coronavirus disease (COVID-19) continues, in Karachi on Aug. 25, 2020. (REUTERS)
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Updated 26 August 2020
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Karachi braces for weekend rains as billions lost to drenches this week

  • Losses from Tuesday's flooding estimated at Rs5 billion ($30 million), Karachi traders say
  • Met agency says floodwater in Karachi must be drained immediately to prevent further flooding on Saturday

KARACHI: Another spell of heavy rain is expected to lash the port city of Karachi on Saturday, Pakistan's meteorological department warned, as it called on the city's authorities to drain water from flooded neighborhoods to avoid further damage and casualties.

Rain-related incidents in the past few days killed dozens of people in the coastal metropolis of Sindh province, while streets, homes and factories were flooded with sewage water, causing losses of billions of rupees in the city where the drainage and sewage systems are outdated.

"There will be a gap of two days (in rains). If it is not utilized to drain out the water from the affected areas, a light to moderate spell on Saturday will drown them again," Sardar Sarfraz, chief metrological officer of the Pakistan Meteorological Department, told Arab News.

On Tuesday, he said, a record 345 millimeters of rainfall flooded most of the city.

As flooding brought operations at the city's industrial zones to a standstill, Karachi Chamber of Commerce and Industry (KCCI) president Agha Shahab Ahmed Khan said the government should declare the rains a national disaster to allow people to be compensated.

Shaikh Umar Rehan, president of the Korangi Association of Trade and Industry (KATI) told Arab News that work has been heavily disrupted at the city's factories which normally operate non-stop.

“The factories work round the clock, but on Tuesday, even one shift couldn’t be completed,” he said.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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According to Atiq Mir, president of the Karachi Traders Association, losses from damages to the markets in the old city area alone are estimated to be Rs1 billion.

"As trade volume is Rs4 billion per day, both direct and indirect losses make it Rs5 billion ($30 million). On Wednesday, as the markets could not open completely, the (trade) community will have to bear another Rs2.5 billion losses."

The Sindh government and the military say teams are on the ground to drain the water and rescue the affected.

“It has broken an 89-year record and it was continuously raining for eight hours but as soon as the rain stopped teams were on ground to clear the areas. Most of the city’s thoroughfares were cleared by the Tuesday evening. The entire Sindh government was in the field to supervise the relief work,” Sindh Labor Minister Saeed Ghani told Arab News.

He added that the problem will not be resolved within days.

The military's media wing said in a statement that relief and rescue efforts were underway in the heavily flooded Malir Nadi, Kohi Goth and Dur Muhammad Goth areas of the city.


Pakistan highlights economic reforms at Davos, eyes cooperation in AI, IT and minerals

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Pakistan highlights economic reforms at Davos, eyes cooperation in AI, IT and minerals

  • Prime Minister Shehbaz Sharif speaks at breakfast event in Davos at sidelines of World Economic Forum summit
  • Pakistan, rich in gold, copper reserves, has sought cooperation with China, US, Gulf countries in its mineral sector

ISLAMABAD: Prime Minister Shehbaz Sharif highlighted Pakistan’s recent economic reforms during the sidelines of the ongoing World Economic Forum (WEF) summit in Davos on Wednesday, saying that his country was eyeing greater cooperation in mines and minerals, information technology, cryptocurrency and artificial intelligence with other states. 

The Pakistani prime minister was speaking at the Pakistan Pavilion in Davos on the sidelines of the WEF summit at a breakfast event. Sharif arrived in Switzerland on Tuesday to attend the 56th annual meeting of the WEF, which brings together global business leaders, policymakers and politicians to speak on social, economic and political challenges. 

Pakistan has recently undertaken several economic reforms, which include removing subsidies on energy and food, privatization of loss-making state-owned enterprises and expanding its tax base. Islamabad took the measures as part of reforms it agreed with the International Monetary Fund (IMF) in exchange for a financial bailout package. 

“We are now into mines and minerals business in a big way,” Sharif said at the event. “We have signed agreements with American companies and Chinese companies.”

Islamabad has sought to attract foreign investment in its critical minerals sector in recent months. In April 2025, Pakistan hosted an international minerals summit where top companies and government officials from the US, Saudi Arabia, China, Türkiye, the UK, Azerbaijan, and other nations attended.

Pakistan is rich in gold, copper and lithium reserves as well as other minerals, yet its mineral sector contributes only 3.2 percent to the countrys GDP and 0.1 percent to global exports, according to official figures.

Sharif said Pakistan has been blessed with infinite natural resources which are buried in its mountains in the northern Gilgit-Baltistan, Khyber Pakhtunkhwa, Azad Kashmir and southwestern Balochistan regions. 

“But we have now decided to go forward at lightning speed,” he said. “And we are also moving speedily in the field of crypto, AI, IT.”

He said the government’s fiscal and economic measures have reduced inflation from nearly 30 percent a few years ago to single-digit figures, adding that its tax-to-GDP ratio had also increased from 9 to 10.5 percent. 

The prime minister admitted Pakistan’s exports face different kinds of challenges collectively, saying the country’s social indicators needed to improve. 

“But the way forward is very clear: that Pakistan has to have an export-led growth,” he said. 

Sharif will take part in an informal meeting of world leaders this year themed ‘The Importance of Dialogue in a Divided Global Landscape,’ his office said in an earlier statement. 

Pakistan’s participation at the WEF comes as Islamabad seeks to sustain recent economic stabilization and attract investment by engaging directly with policymakers, business leaders and international institutions at the annual gathering.