WASHINGTON: Pakistan’s new finance minister estimated that it could take “close to three years’’ for the south Asian country to recover from devastating floods that killed more than 1,700 people and displaced another 7.9 million.
Ishaq Dar, who last month took the finance post for the fourth time in his career, told The Associated Press Friday that losses from the floods were estimated to surpass $32 billion and that the cost of rebuilding damaged infrastructure will exceed $16 billion.
Monsoon rains, likely made worse by climate change, hammered Pakistan for months starting in mid-June, damaging or washing away 2 million homes.
Rebuilding, Dar said, “can’t be done overnight” and will take ” maybe close to three years’’ though he acknowledged that he was “not an engineer.” The World Bank last month pledged $2 billion in flood aid.
Dar is returning to the finance ministry at a difficult time for Pakistan. Moody’s Investors Service, citing Pakistan’s decreased foreign currency reserves, this month downgraded the country’s government debt. With inflation running at more than 20 percent year-over-year, Pakistan’s currency, the rupee, has fallen 19 percent against the US dollar this year.
But Dar, who earned a reputation for supporting a strong rupee during his earlier tenure as finance minister, noted that the currency rallied upon his return to the job; it’s up nearly 10 percent against the dollar since late September.
Dar was in Washington this week for the fall meetings of the International Monetary Fund and World Bank.
The visit got off to a rocky start.
He was heckled and called “a thief’’ by an unidentified individual upon arrival Thursday at Dulles International Airport.
On Friday, he shrugged off the incident, which was captured on video and shared online, as the act of a political opponent of the government of Prime Minister Shahbaz Sharif. “Obviously, this is domestic politics which has gone cross border,’’ Dar said. “That shouldn’t be.’’
Pakistani finance minister sees gradual recovery from floods
https://arab.news/5epa7
Pakistani finance minister sees gradual recovery from floods
- Ishaq Dar was in Washington this week for the fall meetings IMF and World Bank
- Losses from the floods were estimated to surpass $32 billion, finance minister says
Pakistan Air Force conducts ‘Exercise Golden Eagle’ to test combat readiness, agility
- The exercise follows an intense, four-day Pakistan-India military conflict in May 2025
- It focused on AI-enabled operations integrating disruptive technologies, military says
ISLAMABAD: The Pakistan Air Force (PAF) has conducted “Exercise Golden Eagle” that successfully validated its combat readiness and operational agility through synchronized employment of the PAF’s complete combat potential, the Pakistani military said on Tuesday.
It comes months after Pakistan’s four-day military conflict with India in May, with Islamabad claiming victory in the standoff after the PAF claimed to have shot down at least six Indian fighter aircraft, including the French-made Rafale. New Delhi acknowledged some losses but did not specify a number.
The exercise was conducted on a Two-Force construct, focusing on AI-enabled, net-centric operations while integrating indigenous niche, disruptive and smart technologies in line with evolving regional security dynamics, according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing.
Operating within a robust Integrated Air Defense System, friendly forces shaped the battlespace through seamless fusion of kinetic operations with cyber, space and electro-magnetic spectrum operations.
“The kinetic phase featured First-Shoot, First-Kill swing-role combat aircraft equipped with long-range BVR air-to-air missiles, extended-range stand-off weapons and precision strike capabilities, supported by Airborne Early Warning & Control platforms and Air-to-Air Refuelers,” the ISPR said in a statement.
“A key highlight of the exercise was Manned–Unmanned Teaming, with deep-reach killer drones and loitering munitions operating in a highly contested, congested and degraded environment, validating PAF’s capability to conduct high-tempo operations in modern warfare.”
In recent months, many countries have stepped up defense engagement with Pakistan, while delegations from multiple nations have proposed learning from the PAF’s multi-domain air warfare capabilities that officials say were successfully employed during the May conflict.
“The successful conduct of Exercise Golden Eagle reaffirms Pakistan Air Force’s unwavering commitment to maintaining a high state of operational preparedness, leveraging indigenous innovation and effectively countering emerging and future security challenges,” the ISPR added.
