ISLAMABAD: Pakistan is still “very hopeful” of launching its first panda bond in 2025, Finance Minister Muhammad Aurangzeb said on Wednesday, as the South Asian country seeks to return to international capital markets and raise funds from Chinese investors.
A panda bond is a Chinese yuan-denominated debt instrument issued in China’s onshore bond market by foreign governments, multilateral institutions or companies. It allows overseas borrowers to access China’s vast pool of investors while diversifying funding sources.
“Next week, along with the prime minister, I will be in China and we will again bring up the discussion of where we want to go in terms of the international capital markets, starting with the panda bond,” Aurangzeb said at an event in Islamabad. “And we are very hopeful that before the year is out, we can do the inaugural issue.”
Aurangzeb had previously told a Hong Kong news channel that Islamabad intended to launch the bond in June, but the plan was delayed pending regulatory approvals and credit guarantees from multilateral development partners. Pakistan’s finance ministry said last month that pre-launch work included talks with potential investors, underwriters, guarantors, rating agencies and legal advisers in Beijing.
The government sees the panda bond as part of a broader strategy to stabilize the economy and move toward export-driven growth.
“We want to start with the panda bond,” Aurangzeb said, framing the debut issue as a first step back into capital markets.
Pakistan has struggled with a prolonged economic crisis since 2022, which weakened its currency, slashed growth and forced the government into a $7 billion International Monetary Fund bailout approved last year. By tapping Chinese markets, officials hope to diversify financing options, reduce reliance on Western debt, and boost foreign exchange reserves.
Investor roadshows for the inaugural issue were held in Beijing in July, where finance ministry officials briefed Chinese institutions and potential buyers on the proposed bond.
KARACHI: One in four children aged three to eight years in Karachi’s public schools are at risk of social, emotional, physical, language and cognition development delays, a study conducted by the Aga Khan University (AKU) said on Wednesday.
AKU said it conducted the research among children studying in grades one and two at Karachi’s public schools. The children were measured in each of the five developmental domains — social and emotional, physical, language, cognition and communication skills.
“It was found that 28% of children were vulnerable in at least one of these domains, while about 10% struggled in all five,” AKU said in press release.
The study found that Pashtun children “exhibited the highest vulnerability” in all domains compared to Urdu speaking, Sindhi, Punjabi and Baloch children.
“Boys were also found to be significantly more likely to be vulnerable than girls,” the press release said.
AKU said the study revealed that children’s developmental vulnerability overall is shaped by a combination of gender, family income, and ethnic background elements.
It said identifying these gaps early is important as it can inform strategies that systematically protect and support the healthy development of all children in society.
“An individual’s early years are their most sensitive period, where the most rapid growth and development occur,” Dr. Seema Lasi, assistant professor at AKU and the study’s co-author, said in a statement.
“A child’s developmental health is deeply influenced by their parents, teachers and the social and environmental factors they grow up in.”
Dr. Salman Kirmani, director of the Center of Excellence--Women & Child Health, said developmental health was not only a medical concern but a societal responsibility that begins at home and extends to classrooms.
“Children thrive when they are supported by both quality education and a stable, nurturing home,” he said.
ISLAMABAD: Pakistan’s national disaster authority said on Wednesday 210,000 people had been evacuated from flood-hit areas as the army expanded its rescue and relief operations in Punjab, the country’s most populous province and currently the center of a flood emergency.
Since the monsoon season began on June 26, more than 800 people have been killed across Pakistan. Officials say the worst spell of rains began on Aug. 15 and is still ongoing, with the latest surge of floodwaters in the Sutlej, Chenab and Ravi rivers turning Punjab into the hardest-hit region.
Large swathes of the province are inundated and the government has called for the deployment of army units in multiple districts, including Lahore, Kasur, Sialkot, Faisalabad, Narowal, Okara, Hafizabad and Sargodha, for rescue and relief operations.
Reuters reported on Wednesday India had opened all gates of major dams on rivers in its part of the Kashmir region following heavy rains, and warned neighboring Pakistan of the possibility of downstream flooding.
At a press conference in Islamabad, military spokesperson Maj. Gen. Ahmed Sharif Chaudhry said the armed forces had scaled up their response to the emergency.
“An additional engineering brigade and 30 units have been deployed solely for flood relief,” he said, detailing one engineer brigade, 19 infantry units, seven engineering units and four medical units.
“Nearly 28,000 people have been rescued, and around 225 tons of rations have been distributed.”
Chaudhry said 29 medical camps were treating 7,786 patients, while 2,600 sorties had been flown despite adverse weather.
“So far, two soldiers have been martyred and two injured in the line of duty, which is a great loss. However, vigilance remains at 100 percent despite the severe flood conditions.”
Chaudhry stressed the military’s relief role across provinces:
“Relief efforts are being carried out across Punjab, Khyber Pakhtunkhwa, Gilgit-Baltistan, and AJK.”
In Gujranwala Division, he said, six infantry units and two engineering units had been deployed, evacuating around 6,000 people. In Kasur and Chiniot, more than 9,000 had been rescued.
“In Bahawalpur and Bahawalnagar … so far, 2,000 people have been evacuated from flood-threatened zones.”
The military spokesman noted operations in Kartarpur Sahib, where one of Sikhism’s holiest sites, the Gurdwara Darbar Sahib, was submerged:
“Currently, five engineering boats are engaged in rescue operations with the civil administration.”
Flood-affected people evacuate on a boat amid rising water levels after heavy rainfall in the Haqu Wala village of Pakistan's Kasur district on August 24, 2025. (AFP)
On security, Chaudhry emphasized that Pakistan’s border defenses had not been affected by the floods.
Punjab shares much of its eastern boundary with India, including the contested Jammu and Kashmir region where the two countries face off along what Pakistan calls the “working boundary.”
“No post has been abandoned or left unmanned,” he said. “Two personnel have lost their lives, and two are injured. All posts remain fully occupied despite the flood situation.”
FLOOD WARNINGS AND PUNJAB BREACH
National Disaster Management Authority chairman Lt. Gen. Inam Haider Malik, who addressed the press conference with Chaudhry, said river flows were rising at multiple barrages.
“At Shahdara, a high-intensity flood is currently flowing at about 78,000 cusecs, and the pressure is being maintained at that level,” he said, warning of an “exceptionally high flood trend” in the Sutlej at Ganda Singh Wala, where 250,000 cusecs were passing through, with downstream pressures recorded at Sulemanki and Islam Headworks.
“So far, approximately 200,000 people have been evacuated from these areas through coordinated efforts … Thankfully, there has been zero [civilian] fatality,” Malik said, adding that tents, medical cover and rations were being provided in relief camps.
The NDMA said in a statement flows at Panjnad could climb to 600,000–700,000 cusecs in the coming days, putting strain on barrages downstream in Sindh. It warned of more rainfall between Aug. 29 and Sept. 9.
The Punjab disaster authority said an “extremely high flood” was recorded at Qadirabad Headworks on the Chenab River, with water flow measured at 935,000 cusecs.
“An emergency breach was carried out on the right marginal embankment to protect the headworks, which will help reduce pressure on the structure,” it said.
Addressing a press conference on Wednesday morning, provincial disaster management chief Irfan Ali Katia said hundreds of thousands of people had been moved to safety overnight after water levels in the Chenab and Ravi rose “to medium and exceptionally high within hours.” He called current flows “historical peaks” not seen since 2014.
About 100–110 relief camps have been set up, providing food, medical care and livestock shelter, Katia said, adding that the government had released Rs900 million ($3.2 million) to districts for emergency supplies.
“For the next 48 hours, this is critical for the Rawi River and downstream Khan in Chenab,” the official said, urging residents in floodplains to evacuate.
Prime Minister Shehbaz Sharif meanwhile chaired an emergency meeting in Islamabad and ordered “more effective” early warnings and immediate dispatch of relief goods. He instructed the federal ministers for energy, communications and planning to travel to Lahore, the provincial capital, to coordinate with Punjab authorities, ensure uninterrupted power and restore roads. He also ordered preparations for possible urban flooding in Gujrat, Sialkot and Lahore, and advance alerts for Sindh.
Prime Minister Shehbaz Sharif chairs meeting on update of flood situation in Punjab province, at the PM Office in Islamabad on August 27, 2025. (Handout/PMO)
Sharif will visit Narowal, Sialkot and South Lahore on Thursday, the NDMA said.
The United Nations said it had released $600,000 to support Pakistan’s flood response.
Officials warn the current monsoon spell could last until at least Sept. 10 and may rival the catastrophic floods of 2022, which killed more than 1,700 people and caused over $30 billion in economic damage.
Annual monsoon rains are vital for Pakistan’s agriculture but increasingly destructive, a trend experts link to climate change.
Despite contributing less than 1 percent of global greenhouse gas emissions, Pakistan is among the world’s most climate-vulnerable nations, facing erratic weather from droughts and heatwaves to record-breaking rains.
ISLAMABAD: Pakistan’s government is working to operationalize Gwadar Port and improve its efficiency by adopting solar-based solutions and cutting its dependence on external energy, state media reported on Wednesday, saying that it has formed a technical sub-committee to review technical aspects of implementing solar power in the port city.
Gwadar city is situated along the Arabian Sea and lies at the heart of the China-Pakistan Economic Corridor (CPEC), under which Beijing has funneled tens of billions of dollars into massive transport, energy and infrastructure projects in Pakistan.
Solar-based solutions use sunlight to provide clean energy, power appliances and water pumps. Pakistan, desperate to cut down on its costly fuel imports, has undertaken efforts in recent years to promote the use of solar energy.
Maritime Affairs Minister Junaid Chaudhry held a meeting on the port’s operationalization with Gwadar Port Chairman Noorul Haque Baloch and China Overseas Ports Holding Company Chairman My Yu Bo, the state-run Associated Press of Pakistan (APP) said in a report. He confirmed that the government has established a sub-committee featuring officials from several ministries to review technical aspects of implementing solar power in Gwadar.
“The minister outlined the sub-committee’s key duties which include devising an efficient solar panel utilization plan, recommending the installation of solar photovoltaic systems and battery storage solutions for Gwadar’s water facilities and proposing measures to enhance the region’s power supply,” APP reported.
“Moreover, the committee will design solar power distribution systems integrated with storage options to ensure a dependable energy supply for critical infrastructure, including the Gwadar Port Authority,” it continued.
“The initiative seeks to significantly reduce Gwadar’s reliance on external energy by making it self-sufficient through local power sources.”
During the meeting, Chaudhry told the participants that solar-based microgrids with sufficient capacity would be set up at strategic locations to supply power to water pumps and the desalination plant.
He said Prime Minister Shehbaz Sharif’s solar initiative for Gwadar would be fully functional to facilitate the establishment of new factories in the Gwadar free zone and provide power to the newly built international airport in the port city.
Chaudhry pointed out that water shortage in Gwadar is acute due to insufficient power, adding that solar energy was vital to protect the industries there.
He also highlighted how the Gwadar fisheries sector saved over a million dollars every year by shifting from diesel to solar power.
Pakistani officials have termed Gwadar’s geostrategic position as the shortest trade route to the Gulf and Central Asia, highlighting its potential to become a regional transshipment hub.
ISLAMABAD: Authorities in Pakistan’s Punjab province carried out an emergency breach on a protective embankment at Qadirabad Barrage on Wednesday as the Chenab River surged to dangerous levels, after the army was deployed overnight and 150,000 people were evacuated to safer areas.
The screengrab taken from a video shows authorities carrying out an emergency breach on a protective embankment at Qadirabad Barrage on August 27, 2025, as the Chenab River surged to dangerous levels. (Photo courtesy: PDMA)
Since June 26, seasonal monsoon rains have killed 802 people across Pakistan, including 479 in Khyber Pakhtunkhwa, 165 in Punjab, 57 in Sindh, 45 in Gilgit Baltistan, 24 in Balochistan and Azad Kashmir, and eight in Islamabad.
The latest surge of floodwaters in the Sutlej, Chenab and Ravi rivers has now turned Punjab into the main focus of the emergency, with large swathes of the province inundated. The government has called for the deployment of army units in eight districts — Lahore, Kasur, Sialkot, Faisalabad, Narowal, Okara, Hafizabad and Sargodha — for rescue and relief operations.
“An extremely high flood has been recorded at Qadirabad Headworks on the Chenab River, with water flow measured at 935,000 cusecs,” the Provincial Disaster Management Authority (PDMA) said in a statement.
“An emergency breach was carried out on the right marginal embankment to protect the headworks, which will help reduce pressure on the structure.”
A few hours earlier, PDMA director general Irfan Ali Katia said the Chenab and Ravi had risen sharply within hours.
“The water went ... to medium and exceptionally high within hours,” he told reporters at a briefing. “Because of this, we did the evacuations overnight.”
Katia said 150,000 people had been moved to safety. He described river levels as “historical peaks” not seen since 2014. Around 100–110 relief camps have been set up, providing food, medical care and livestock cover, he said, adding: “We have given 900 million rupees ($3.2 million) to all the vulnerable districts, to their deputy commissioners, for those arrangements.”
The disaster agency chief urged people in floodplains to evacuate immediately, warning:
“For the next 48 hours, this is critical for the Rawi River and downstream Khan in Chenab.”
EXTRAORDINARY FLOWS
The National Disaster Management Authority (NDMA) warned of “extraordinary” flows in rivers, with the Chenab crossing 900,000 cusecs at Marala Headworks and the Ravi exceeding 200,000 cusecs at Jassar. It said low-lying areas near Lahore, including Shahdara, Park View and Motorway-2, were at risk.
A family with their belongings takes refuge over a roof of their house near Chenab River, following the monsoon rains and rising water level in Wazirabad. (Reuters)
“The situation in the Chenab and Ravi rivers is extremely dangerous,” the NDMA said, urging residents along riverbanks to relocate immediately.
The Flood Forecasting Division in Lahore warned of exceptionally high flood levels in the Chenab at Trimmu on Aug. 29, at Panjnad on Sept. 2, and in the Indus at Guddu and Sukkur between Sept. 4–5. Very high to exceptionally high flows were also forecast for the Sutlej at Ganda Singh Wala and the Ravi at Jassar.
Separately, Prime Minister Shehbaz Sharif chaired an emergency meeting on Wednesday, where the NDMA briefed him on forecasts and relief efforts. He said early warnings had saved lives but called for alerts to be issued “more effectively.”
Sharif directed NDMA and Punjab PDMA to remain in constant contact and ordered the immediate delivery of tents and relief goods. He instructed ministers for energy, communications and planning to travel to Lahore to coordinate with provincial authorities, ensure uninterrupted power, and restore roads and communications.
A rescue worker helps a family board in a boat to evacuate them from a flooded area in Dhoop Sarhi village in Kasur district, Pakistan, Tuesday, Aug. 26, 2025, due to the rising water level in Sutlej River, following neighboring India releasing water from overflowing dams. (AP)
The prime minister also ordered preparations for possible urban flooding in Gujrat, Sialkot and Lahore, and directed that advance warnings be given in Sindh as floodwaters move downstream.
Officials warn the current monsoon spell could last until at least Sept. 10 and may rival the 2022 floods, which killed more than 1,700 people and caused more than $30 billion in damage.
Annual monsoon rains are vital for Pakistan’s agriculture and water supply but in recent years have brought devastation, a trend experts link to climate change. Despite contributing less than 1 percent of global greenhouse gas emissions, Pakistan is among the world’s most climate-vulnerable nations, facing increasingly erratic weather from droughts and heatwaves to record-breaking rains.
ISLAMABAD: Pakistan Army personnel are evacuating about 300 people stranded in the Kartarpur town of the country’s most populous province of Punjab after the waters of the Ravi River overflowed its banks and flooded the entire area, state media said on Wednesday.
Kartarpur is a town in Punjab’s Narowal district situated on the western bank of the Ravi, about four kilometers from the Indi-Pakistan border. It is home to the Gurdwara Darbar Sahib, one of Sikhism’s holiest sites, where its founder Guru Nanak spent his final years.
Floodwaters in the Sutlej, Chenab and Ravi rivers have forced Pakistani authorities to order mass evacuations of residents from vulnerable areas of Punjab.
“Due to flooding in Kartarpur, around 200 to 300 people are stranded,” state broadcaster Radio Pakistan said.
“In coordination with local administration, army troops are working to evacuate the stranded people.”
Social media footage showed the gurdwara submerged in floodwaters.
UNDER : The situation in has become extremely critical as rivers have risen to dangerous flood levels . has been completely submerged , with covering houses, fields, and roads while advancing toward major towns .…
— PakWeather (@Pak_Weather)
Ruling Pakistan Muslim League Nawaz (PML-N) party leader Hina Parvez Butt posted a photo on X showing Sikhs and others being rescued by emergency services personnel on a speedboat.
“People are being shifted to a safe location from Kartarpur,” she said.
کرتارپور سے لوگوں کو محفوظ مقامات تک منتقل کیا جا رہا ہے۔۔
— Hina Parvez Butt (@hinaparvezbutt)
Pakistan inaugurated the Kartarpur Corridor in 2019, a passage allowing Indian Sikh pilgrims to visit the shrine of Guru Nanak without a visa. The initiative was hailed as a significant confidence-building measure between the two countries and a major interfaith milestone.
Over 800 people have been killed in the monsoon season since June 26, with the northwestern Khyber Pakhtunkhwa province recording the highest number of casualties.
Pakistani officials say the current spell is likely to last until at least Sept. 10 and could rival the 2022 floods, which killed more than 1,700 people and caused over $30 billion in damage.
