Pakistan On Knees, Pleads India To Withdraw This Decision; ‘Reconsider Blocking…'
Days after releasing a captured BSF jawan and amid rising tensions, Pakistan has appealed to India to reconsider its suspension of the Indus Waters Treaty. The plea comes via a formal letter from Pakistan's Ministry of Water Resources to India's Jal Shakti Ministry. Islamabad claims millions depend on the treaty-regulated water and warns that the situation could escalate, with Deputy PM Ishaq Dar even suggesting that the ceasefire could collapse.#india #induswaterstreaty #pakistan #pmmodi #shehbazsharif
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Business Standard
3 hours ago
- Business Standard
Two neighbours, two futures: India's rise amid Pakistan's mounting woes
India has recorded a significant decline in poverty over the past decade, sharply contrasting with the worsening economic conditions in neighbouring Pakistan. According to the recent World Bank report, India's extreme poverty rate dropped to just 5.3 per cent in 2022–23 from 27.1 per cent in 2011–12. This comes even after the global poverty line was revised upwards from $2.15 to $3 per day. Over the same period, India succeeded in pulling nearly 171 million people out of extreme poverty. The gains have been attributed to a combination of sustained economic growth, targeted welfare programmes, and rural development schemes. The narrowing urban–rural divide and rising real incomes have also contributed to reducing economic disparity across states and demographics. In stark contrast, Pakistan's poverty levels have worsened. The World Bank now estimates that around 45 per cent of Pakistan's population lives in poverty, with 16.5 per cent classified as "extremely poor". Worse, the country is projected to add 1.9 million more people to the poverty count in 2024–25, largely due to sluggish economic growth and population pressures. Pakistan's gross domestic product (GDP) growth is expected to be just 2.6 per cent, which the World Bank says is insufficient to reduce poverty. With population growth at nearly 2 per cent, the country continues to struggle with rising inequality, limited job creation, and economic stagnation. Agriculture under pressure in Pakistan A key concern in Pakistan's economic distress is the agriculture sector, which employs nearly half of its poor. The World Bank highlighted that climate-related challenges have severely impacted productivity. In 2025, the country recorded a 40 per cent drop in rainfall, along with pest attacks and shifts in cropping patterns. As a result, crop yields are projected to fall — by 29.6 per cent for cotton and 1.2 per cent for rice — capping agricultural growth at under 2 per cent. The effects of India's move to put the Indus Waters Treaty in abeyance have also begun to show, with a 15 per cent decline in water flow in Pakistan's Punjab province. Dam levels are reported to be nearing dead storage levels, raising concerns over irrigation shortages during key farming seasons. Rising food insecurity and inequality Food security in Pakistan is a growing concern. The World Bank warns that 10 million people in rural areas are at risk of acute food insecurity. Moreover, consumption-based inequality has risen by nearly two percentage points since FY21. However, the actual inequality may be higher, as household surveys often underrepresent wealthier households. Real incomes in rural areas are forecast to decline by 0.7 per cent in FY25, worsening living conditions for low-income communities. Significantly, the diverging poverty trends come amid renewed scrutiny over Pakistan's use of international aid. India has raised concerns before the International Monetary Fund (IMF) and World Bank, alleging that Pakistan has misused global financial assistance for sponsoring terrorism rather than development. Pakistan has received over $38.8 billion in aid from international institutions, including 25 IMF bailout packages, along with support from China, Gulf nations, and the Paris Club. Despite this, economic indicators remain weak, prompting questions over transparency and spending priorities. Pakistan's economic survey: Mixed signals Pakistan's recently released Economic Survey for 2024–25 also painted a mixed picture. While the Finance Minister Muhammad Aurangzeb said the country was on a recovery path, macroeconomic indicators remain fragile. Key highlights include: Public debt reaching PKR 76,000 billion, with PKR 24,500 billion owed to external lenders GDP growth projected at 2.7 per cent for FY25, up from 2.5 per cent in 2024 Current account surplus of $1.9 billion due to stronger IT exports Remittances expected to grow to $37–38 billion, up from $27 billion two years ago Foreign exchange reserves climbing to $16.64 billion, with the State Bank holding $11.5 billion Fitch upgrading Pakistan's credit rating to B– from CCC+ Despite these signs of stabilisation, core issues remain unresolved. The country still runs a large trade deficit, with $27.3 billion in exports against $48.6 billion in imports. Literacy rates also remain uneven, with Balochistan trailing at just 42 per cent. Contrasting paths, diverging futures India's transformation, driven by governance reforms, economic diversification, and social programmes, stands in sharp contrast to Pakistan's structural woes and aid dependency. The World Bank's data reveals not only a growing poverty gap but also a deeper divergence in how the two countries are shaping their futures. While India consolidates its position as the world's fourth-largest economy, Pakistan continues to wrestle with rising debt, fragile institutions, and political instability. As both nations command regional influence and global attention, the data reinforces a simple truth: poverty outcomes are shaped not just by economics, but by leadership, choices, and national priorities.
Time of India
4 hours ago
- Time of India
‘Turnaround story next year': Pakistan's debt increases to PRs 76,000 billion; its FM claims economy on path to recovery
Pakistan FM said that GDP growth increased from -0.2pc in 2023 to 2.5pc in 2024. (AI image) Pakistan's total debt has risen to PRs 76,000 billion during the initial nine months of the present fiscal year, as revealed in its economic survey. The report indicates that the financially constrained nation is expected to achieve a growth rate of 2.7 per cent this year. During the Economic Survey 2024-25 release on Monday, Finance Minister Muhammad Aurangzeb stated that the Pakistani economy has shown signs of recovery over the past two years, with further stabilisation and strengthening observed in the current fiscal year. The survey, an essential pre-budget publication, outlines the government's economic achievements for fiscal year 2024-25. The country's financial calendar commences on July 1. According to the document released prior to the budget presentation, the government's debt in the first nine months of the current fiscal year reached PRs 76,000 billion, comprising PRs 51,500 billion from domestic banks and PRs 24,500 billion from external borrowing. During a press briefing following the economic survey launch, Aurangzeb said that GDP growth increased from -0.2pc in 2023 to 2.5pc in 2024, according to a PTI report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Device Made My Power Bill Drop Overnight elecTrick - Save upto 80% on Power Bill Pre-Order Undo Also Read | Economy in dire straits, India's Indus Waters Treaty blow: Can Pakistan avoid the 'begging bowl'? "This year, we announced a 2.7pc growth for 2025. This is a gradual recovery and the right way to go about it is to focus on sustainable growth," he said. He contextualised Pakistan's recovery against global economic performance, noting that worldwide GDP growth was 2.8 per cent. " The next fiscal year will be a turnaround story," he claimed, indicating a budget that may aim to comply with IMF requirements. Discussing economic indicators, Aurangzeb noted that the current account showed a surplus of $1.9 billion in July-April FY25, supported by IT exports of approximately $3.5 billion. "Remittances are projected to reach $37-38 billion by year-end, up from $27 billion two years ago," he said. Addressing macroeconomic metrics, the minister reported, "public debt and debt-to-GDP ratio was 68 per cent, which is now 65 per cent." The forex reserves reached $9.4 billion as of June 30, 2024, marking an improvement from 2023's position when Pakistan had only two weeks of import coverage. The foreign exchange reserves increased to $16.64 billion in 2025. The State Bank of Pakistan maintained $11.5 billion, whilst commercial banks held $5.14 billion. Also Read | 270 million pulled out of poverty! How Modi government achieved a remarkable dip in extreme poverty & what's the road ahead? Explained Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
4 hours ago
- India Gazette
"Pakistan supports terrorism despite poverty, starvation, unemployment": Union Minister Nitin Gadkari
New Delhi [India], June 9 (ANI): Union Minister for Road Transport and Highways Nitin Gadkari on Monday strongly condemned Pakistan for 'sponsoring terrorism,' despite grappling with severe domestic challenges such as poverty, starvation, and unemployment. In an interview with ANI, Gadkari reiterated India's firm stance against terrorism, citing Operation Sindoor as a 'decisive response' to the Pakistan-sponsored April 22 terror attack in Jammu and Kashmir's Pahalgam that killed 26 innocent people in the name of religion. 'We are against terrorism. Operation Sindoor was our reaction to the killing of the innocent people. Pakistan sponsors terrorism. There is poverty, starvation and unemployment in Pakistan; still they support terrorism and enter our country and kill innocent people. Then our answer will have to be Operation Sindoor,' the Union Minister said. Operation Sindoor, launched on May 7, targeted nine terror camps in Pakistan and Pakistan-occupied Jammu and Kashmir, leading to the death of over 100 terrorists affiliated with terror outfits like the Jaish-e-Mohammed, Lashkar-e-Taiba and Hizbul Mujahideen. Gadkari also elaborated on the suspension of the Indus Waters Treaty following the April 22 attack, stating that the decision was made because of Pakistan's involvement in the terror activities. 'When partition happened, out of the six rivers that flow through the region, three were in Pakistan and three in India... Our share of the water also goes to Pakistan, and we can use that water for the regions of Punjab and Rajasthan. When we were giving water to Pakistan, they killed our people. That's why our government stopped the water... If Pakistan stops these terrorist activities, we will also stop,' he explained. The suspension of the Indus Water Treaty between the two nations was announced on April 23 following the attack and was part of one of the diplomatic moves by India against Pakistan for their involvement in terror activities. Earlier, the Ministry of External Affairs reiterated that the treaty will remain in abeyance until 'Pakistan credibly and irrevocably abjures its support for cross-border terrorism.' (ANI)
