Asian Development Bank releases $1.5 billion for Pakistan — finance minister

Staff members of the Asian Development Bank step out of the Manila-based lender's headquarters on February 17, 2009. (AFP/File)
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Updated 26 October 2022
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Asian Development Bank releases $1.5 billion for Pakistan — finance minister

  • Funds to help provide social protection, enhance food security in Pakistan
  • Pakistan estimates losses suffered from floods since mid-June at $30 billion

ISLAMABAD: The Asian Development Bank (ADB) released funds to the tune of $1.5 billion for Pakistan, Finance Minister Ishaq Dar confirmed on Wednesday, as the South Asian country looks for financial help to recover from cataclysmic floods that have inflicted heavy losses on it since mid-June.

The ADB said last week it had approved $1.5 billion for Pakistan to help provide social protection, promote food security and support employment in the country. Devastating floods and global supply chain disruptions following Russia’s invasion of Ukraine have damaged Pakistan’s already fragile economy.

The South Asian country estimates losses from raging floods, which have killed over 1,700 since June 14, at $30 billion.

“Asian Development Bank has released funds $1.5 billion to Pakistan under BRACE program for the credit of Govt of Pakistan’s account with State Bank of Pakistan,” Dar wrote on Twitter.

ADB’s Building Resilience with Active Countercyclical Expenditures (BRACE) program will help fund Pakistan’s $2.3 billion countercyclical development expenditure program designed to cushion the impacts of external shocks, including the Russian invasion of Ukraine, the bank said on its website.

Tariq Niazi, an ADB director, had said the program would help Pakistan deal with the impact of immediate shocks to the economy, while, in parallel, continue the structural reforms that are necessary to improve the country’s medium- to long-term macroeconomic prospects.


Pakistan high court pauses tree-cutting in Islamabad until Feb. 2

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Pakistan high court pauses tree-cutting in Islamabad until Feb. 2

  • Islamabad High Court asks CDA to ‘explain and justify’ tree-cutting at next hearing
  • CDA officials say 29,000 trees were cut due to allergies, deny felling in green belts

ISLAMABAD: The Islamabad High Court has ordered an immediate halt to tree-cutting in the federal capital until Feb. 2, seeking justification from civic authorities over the legality of a large-scale felling drive that has seen thousands of trees removed in recent months.

The interim order, issued by a single-judge bench led by Justice Khadim Hussain Soomro, came during proceedings on a petition challenging the Capital Development Authority’s (CDA) tree-cutting operations in Islamabad’s Shakarparian area and H-8 sector.

At the outset of the hearing, the petitioner’s counsel argued that trees were being felled in violation of the Pakistan Environmental Protection Act 1997, the Islamabad Wildlife Ordinance 1979 and the city’s master plan.

“Respondents shall not cut trees till the next date of hearing,” Justice Soomro said in the court order released on Friday while referring to CDA officials.

“Respondents are directed to come fully prepared and to file paragraph-wise comments before the next date of hearing, along with a comprehensive report explaining the justification and legal basis for the cutting of trees,” he added.

According to the court order, the petitioner maintained that the CDA had not made any public disclosure regarding the legal basis for the operation and that the felling was causing environmental harm.

The petition sought access to the official record of tree-cutting activities and called for the penalization of CDA officials responsible for the act under relevant criminal and environmental laws.

It also urged the court to impose a moratorium on infrastructure projects in Islamabad, order large-scale replanting as compensation and constitute a judicial commission headed by a retired Supreme Court judge to probe the alleged violations.

CDA officials acknowledge around 29,000 paper mulberry trees have been cut in the capital in recent months, arguing that the species triggers seasonal allergies such as sneezing, itchy eyes and nasal congestion.

They also maintain that no trees have been removed from designated green belts and that the number of replacement trees planted exceeds those felled.

Designed in the 1960s by Greek architect Constantinos Doxiadis, Islamabad was conceived as a low-density city with green belts and protected natural zones at its core.

Critics, however, say the recent felling has extended beyond paper mulberry trees and question whether authorities are adhering to the city’s master plan and the legal protections governing forested and green areas.

The court has adjourned its hearing until Feb. 2, 2026.