Pakistan warns of fresh storms in northwest today after heavy rains kill over 25

People enjoy high tide waves on the Arabian Sea, in Karachi, Pakistan, on June 11, 2023. (AP)
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Updated 12 June 2023
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Pakistan warns of fresh storms in northwest today after heavy rains kill over 25

  • Heavy rains caused houses to collapse, leaving at least 25 people dead over the weekend
  • News of more heavy rains in KP comes as Pakistan prepares against Cyclone Biparjoy

ISLAMABAD: The meteorology department said on Monday a fresh series of strong winds and rains were likely to start in the Khyber Pakhtunkhwa province from today, Tuesday, just days after storms in the northwestern region caused several houses to collapse, leaving at least 25 people dead.

Last year, monsoon rains and flooding devastated Pakistan, killing more than 1,700 people, affecting around 33 million people and displacing nearly 8 million.

To mitigate the effects of natural disasters, the government in its national budget draft presented Friday allocated $1.3 billion for climate resilience.

“New series of strong winds and rains are likely to start in Khyber Pakhtunkhwa from tomorrow,” the Meteorology Department said, with the director general of the Provincial Disaster Management Authority directing the district administration to take precautionary measures.

“Rains are likely to continue intermittently till June 18,” the statement said.

The DG PDMA warned that crops could be threatened by the rains, instructing the availability of small and heavy machinery by the district administration to clear rain water if necessary and calling on farmers to make “proper arrangements.” 

He also said alerts should be delivered to tourists and local communities in local languages.

The news of more heavy rains in KP come as Pakistan is preparing to put in place emergency measures in advance of the approaching Cyclone Biparjoy in the Arabian Sea.

The “severe and intense” cyclone with wind speeds of 150 kilometers per hour (93 miles per hour) was on a course toward the country’s south, the disaster management agency said on Monday.


In a first, Pakistani corporate dairy farm to make $8.9 million market debut next month

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In a first, Pakistani corporate dairy farm to make $8.9 million market debut next month

  • Ghani Dairies to issue 104.2 million new shares, with most offered via book building
  • Company supplies milk to large processors including Nestlé Pakistan and Fauji Foods

KARACHI: Ghani Dairies Limited, a Pakistani corporate dairy farming company, plans to raise about Rs 2.5 billion ($8.9 million) through an initial public offering, in what would be the country’s first listing by a large-scale, automated dairy farm, its advisers said on Tuesday.

The company will issue 104.2 million new shares, representing 24.28 percent of its post-IPO paid-up capital, with 75 percent of the offering allocated through book building and the remainder offered to retail investors, according to a statement by JS Global Capital, the consultant to the issue.

The floor price has been set at Rs 24 per share, and the issue will be fully underwritten.

“This is not just a dairy farm, but a vision for Pakistan’s dairy future,” said Hafiz Avais Ghani, chief executive officer of Ghani Dairies, adding that the company aimed to expand capacity to better serve industrial clients and the broader market.

Ghani Dairies operates a fully automated dairy farm using imported high-yielding cattle and digital herd-management systems, supplying milk primarily to large food and dairy processors.

Its expansion plan includes the import of 1,250 dairy cows, construction of additional milking and heifer sheds, storage facilities and the installation of modern feeding and milking systems.

The company’s customers include Nestlé Pakistan, IRC Dairy, and Fauji Foods, according to the statement.

Khalil Usmani, chief executive of JS Global Capital, said the IPO would give investors exposure to a modern, corporate dairy operation at a time when demand for higher-quality milk and value-added dairy products was rising.

Book building for the offering is scheduled for Feb. 2–3, with the public offering expected to follow on Feb. 9–10, the statement said.