EU scales-up flood assistance to Pakistan by €30 million

Pakistan Prime Minister Shehbaz Sharif (right) meets European Commissioner for Crisis Management, Janez Lenarčič, (third from left) at Prime Minister Office in Islamabad, Pakistan, on October 4, 2022. (APP)
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Updated 04 October 2022
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EU scales-up flood assistance to Pakistan by €30 million

  • EU and its member states have already committed €93 million to Pakistan to date
  • With additional funds announced today, €123 million has been committed for floods

ISLAMABAD: The European Union said on Tuesday it would scale-up its assistance to people affected by recent floods in Pakistan by Rs6.7 billion (€30 million).

The announcement came during a meeting between Prime Minister Shehbaz Sharif and the European Commissioner for Crisis Management, Janez Lenarčič. The Commissioner is visiting Pakistan this week to get a first-hand impression of the impact of the catastrophic floods and ongoing relief efforts.

Floods in Pakistan this monsoon season have killed 1,600 people and left 33 million scrambling to survive. The government has put initial estimates of the damages at $30 billion. 

The European Union and its member states have already committed €93 million to Pakistan to date. With the additional funds announced today, €123 million has been committed. In addition, European civil protection agencies have provided in-kind donations of tents, blankets, medical equipment as well as experts and technicians.

“This new funding aims to address the most urgent needs such as basic shelters, clean drinking water and sanitation, food and nutrition as well as medical services.” the EU said. 

“The actions funded by the European Union will ensure that women, children and other vulnerable people are protected from further harm and that children have again access to education as quickly as possible. Cash assistance will enable people cover their basic needs and to rebuild their homes and livelihoods. Given the scale of the crisis, the psychological impact on affected people will also be taking into account.”

Lenarčič said with the new funding, the EU had reaffirmed its continued support to Pakistan.

“Once again, however, nature reminded us of the impact of global warming,” he said. “Mainstreaming disaster preparedness and prevention in EU funded projects will therefore remain our top priority within the provision of humanitarian assistance.”

Upon arrival in Pakistan, Lenarcic traveled to Khipro in Sindh province to understand the scale of the disaster, speak to affected communities and see the European assistance that is already provided on the ground. He visited a water purification plant run by a Danish civil protection team and a humanitarian project implemented by an EU-funded international non-governmental organization.


Pakistan stock market crosses record 174,000 points during intraday trading

Updated 29 December 2025
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Pakistan stock market crosses record 174,000 points during intraday trading

  • Pakistan Finance Adviser Khurram Schehzad says stock market’s equity investor base has increased by over 120,000 in last 18 months
  • Official says stock market’s record levels reflect growing investor confidence supported by continued macro stability and key reforms

ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed a record 174,000 points on Monday, Finance Adviser Khurram Schehzad said, marking a strong start to the business week. 

According to the data available on the PSX’s official website, the KSE-100 benchmark reported 174,411.72 points during the intraday trading on Monday morning. 

“Another milestone for Pakistan’s equity market,” Schehzad wrote on social media platform X. “The KSE-100 Index has crossed 174,400 points, marking yet another record high.”

Pointing out the stock market’s achievements this year, Schehzad said the PSX has delivered 50 percent plus returns in US dollar terms to investors since January this year, “making it one of the best markets in Asia.”

He noted that investors’ participation in the PSX is rising fast, adding that the equity investor base has increased by over 120,000 to cross the 450,000 figure in the last 18 months, marking a 37 percent increase. 

“These record levels reflect growing investor confidence, supported by continued macro stability, key reforms, and improving prospects for more sustainable, higher future growth,” he said. 

Pakistan’s stocks have surged in recent years, marking a strong performance this year as Islamabad moves to consolidate its financial recovery after years of economic turbulence, which saw it on the verge of a sovereign default in June 2023. 

Pakistan’s foreign exchange reserves have surged past the $21 billion mark, as per the central bank’s latest data. 

In recent years, the South Asian country has also implemented tough structural reforms under the International Monetary Fund (IMF) loan programs, aimed at reducing fiscal deficits and restoring investor confidence.