Pakistan approves 21 development projects worth $3 billion for flood-hit areas

A general view of a flooded area after heavy monsoon rains is pictured from atop a bridge in Charsadda district in the Khyber Pakhtunkhwa province of Pakistan on August 27, 2022. (AFP/File)
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Updated 05 November 2023
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Pakistan approves 21 development projects worth $3 billion for flood-hit areas

  • Heavy monsoon rains and melting glaciers last year killed over 1,700 in Pakistan, inflicted damages of around $30 billion
  • Pakistan’s planning ministry says projects being ‘successfully executed’ by Sindh, Punjab, Balochistan and KP governments

ISLAMABAD: Pakistan’s planning ministry said on Sunday it had approved 21 development projects worth $3 billion for the country’s flood-hit areas, as it attempts to reconstruct thousands of homes and rehabilitate people in large numbers affected by last year’s cataclysmic disaster. 

Unusually heavy monsoon rains in June 2022 killed over 1,700 people, destroying thousands of acres of crops and displacing millions in many parts of the country. Pakistan estimated damages from the floods to be around $30 billion. 

Following the devastation, Pakistan’s planning ministry devised a comprehensive 4RF (Resilient, Recovery, Rehabilitation and Reconstruction) framework for effective coordination and participation among federal and provincial governments, development partners, donors, and international and national NGOs. 

“The Central Development Working Party (CDWP) successfully approved 21 development projects worth $3 billion for flood-affected areas of Pakistan while securing maximum pledges committed in Geneva for flood 2022,” the planning ministry said in a statement. 

The ministry said these projects are being “successfully executed” by the provincial governments of Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan. It added that the projects are funded by the World Bank, the Asian Development Bank and the Islamic Development Bank. 

“Sindh and Balochistan were the most affected provinces in the floods of 2022,” the ministry said. 

The ministry said a dashboard to ensure real-time monitoring and provide information to the masses and development partners about the execution of the development projects would be operationalized by Nov. 10. 

Pakistan obtained aid pledges worth $10 billion from multilateral and bilateral donors during a conference in Geneva this year for flood-relief activities and projects. 

Caretaker Prime Minister Anwaar-ul-Haq Kakar said in September Pakistan is striving to get donors to release $10 billion in pledges to help it recover from the devastating floods and launch rebuilding projects that hinge on the funding. 

Such funding is crucial for cash-strapped Pakistan but the government says it has not arrived, amid growing concerns about its future debt obligations. 


Pakistan regulator amends law to facilitate capital raising by listed companies

Updated 19 January 2026
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Pakistan regulator amends law to facilitate capital raising by listed companies

  • The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
  • Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,

The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.

This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.

“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.

The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.

The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.

“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.

“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”

The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.