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Islamabad [Pakistan], February 11 (ANI): Tough times are ahead for Pakistan as Islamabad and the International Monetary Fund (IMF) have failed to reach a staff-level agreement on a much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt. Analysts believe that the current economic crisis in Pakistan is a culmination of decades of faulty policies, reported The <keyword id="12543719" type="General" weightage="50" keywordseo="al-arabiya-post" source="Orion">Al Arabiya Post</keyword>. Pakistan is seeking a USD 7 billion bailout package from the IMF to prevent the collapse of the economy. While the visiting IMF delegation is asking for several reforms and compliance with its conditionality. The IMF mission, led by <keyword id="14447716" type="General" weightage="50" keywordseo="nathan-porter" source="Orion">Nathan Porter</keyword>, began talks on January 31 with the Pakistan government represented by Finance Minister Ishaq Dar for the ninth review of the assistance package. <keyword id="2093498" type="General" weightage="50" keywordseo="pm-sharif" source="Orion">PM Sharif</keyword>, while addressing an apex committee meeting in <keyword id="42462" type="General" weightage="20" keywordseo="peshawar" source="Orion">Peshawar</keyword> following Monday's mosque bombing that killed over 100 people, said, "As I speak, the IMF delegation is in Islamabad and they are giving Finance Minister Ishaq Dar and his team a tough time." Notably, the resource allocation pattern in Pakistan from one budget to another puts a disproportionate focus on populism and militarization. This has put an additional burden on its exchequer leading to an unsustainable fiscal gap, reported Al Arabiya Post. Pakistan Prime Minister <keyword id="11977746" type="General" weightage="50" keywordseo="shehbaz-sharif" source="Orion">Shehbaz Sharif</keyword> said on February 3 that the International Monetary Fund (IMF) was giving a "tough time" to his country over the restoration of stalled bailout package at a time of "unimaginable" crisis. Shehbaz Sharif admitted that the country has no option but to accept the IMF conditionality. "You all know we are running short of resources," Sharif said, adding the country was "facing an acute economic crisis". Moreover, the Pakistrupee, which has been in a steep slide since last week, hit a record low against the US dollar. The Pakistani rupee fell by 1.9 per cent to a record low of 276.58 per dollar in the inter-bank market the same day, according to the Central Bank, reported Al Arabiya Post. As the IMF bailout package is conditional on Pakistan implementing IMF suggested measures, its release would require Islamabad to take tough decisions. After the first round of technical talks between the IMF team and the government concluded on February 4, Pak Prime Minister observed that the lender was imposing conditions that were "beyond our wildest dreams". The discussions covered details of expenditure and revenue performance to identify the policy measures- both revenue and non-revenue- that would have to be taken over the next four months of the current fiscal year. The <keyword id="16465663" type="General" weightage="50" keywordseo="pak-prime-ministered" source="Orion">Pak Prime Ministered</keyword>, despite calling the IMF conditionality unimaginable acknowledged that the country had no choice but to implement the conditions. It has been seen that Islamabad has a policy obduracy and inertia that prohibit it to shun its populist policies and take reform measures on debt, fiscal, trade and structural fronts to address its economic woes, reported Al Arabiya Post. Analysts opine that the rocky road Pakistan is passing through is its own creation. In the first instance, a debt-dependent growth strategy is itself a sure recipe to fall into a debt trap, especially when industrial growth and diversification are limited and the export basket is primarily made up of primary goods. The debt dependence has also eroded the sovereignty of Pakistan and the country's economic and foreign policies are dictated by those who provide funds. Such dependence on external funding has impeded the structural transformation of the Pak economy and its indigenous growth impetus. Secondly, an artificially designed threat perception in Pakistan created by the vested interests in Islamabad's establishment has totally distorted the allocation of resources in the country giving undue emphasis on militarisation in the name of preparing for a threat that does not exist. The third most remarkable flaw in Pakistan's economic policy is a deliberate and foolhardy choice of missing the development opportunities generated by free trade, reported Al Arabiya Post. While Pakistan has a good location to leverage the presence of two giant economies in its neighbourhood, it has opted to isolate one of them and sided with the other at the cost of huge losses in trade creation. Not giving the Most Favoured Nation status to India and keeping the trade routes closed for direct trade is a self-defeating proposition. Islamabad could no more avoid taking hard decisions. The situation continues to deteriorate. With only around USD 3.10 billion in foreign exchange reserves, which can only cover 18 days' worth of imports, and a shortage of basic goods including food and medicine and ever-spiralling inflation, the choice to comply with the IMF conditionality would not be easy for Pakistan. (ANI)

Tough times ahead for Pakistan as talks with IMF fails over bailout package

As the <keyword id="88504" type="General" weightage="50" keywordseo="pakistan-national-assembly" source="Orion">Pakistan National Assembly</keyword> (NA) convenes on Monday to elect a new Prime Minister after PML-N President <keyword id="11977746" type="General" weightage="80" keywordseo="shehbaz-sharif" source="Orion">Shehbaz Sharif</keyword> and PTI Vice Chairman Shah Mahmood <keyword id="10124" type="General" weightage="50" keywordseo="qureshi" source="Orion">Qureshi</keyword> their nomination papers, the PTI seems divided over its erstwhile decision of masse resignations by its lawmakers. While the cabinet division de-notified 52 members of the federal cabinet, 25 federal ministers, four ministers of state, four advisers to the Prime Minister and 19 special assistants, after Sunday's historic vote of no-confidence by the joint opposition against former premier <keyword id="14676" type="General" weightage="50" keywordseo="imran-khan" source="Orion">Imran Khan</keyword>, <keyword id="17435" type="General" weightage="100" keywordseo="sharif" source="Orion">Sharif</keyword> having bright chances to make it to the top slot said the new cabinet would be formed only after consultation with all allies, reports Dawn news. As the PTI core committee remained indecisive in a meeting chaired by <keyword id="6355601" type="General" weightage="80" keywordseo="khan" source="Orion">Khan</keyword> on Sunday whether to go for en masse resignations of MNAs or not, the party chairman called the parliamentary party meeting at the Parliament House on Monday to make a final decision. Whether Qureshi will contest the election for the premiership or will resign along with other MNAs of the PTI and its allies depends on the outcome of the PTI parliamentary meeting. However, the PTI decided to give a tough time to the upcoming government through street protests if the PML-N won the contest in the parliament. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-decides-not-to-join-twitters-board-a-week-after-becoming-the-largest-shareholder-of-the-company/articleshow/90770619.cms">Elon Musk decides not to join Twitter’s board a week after becoming the largest shareholder of the company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/nasa-collaborates-with-spinlaunch-to-test-an-innovative-mass-accelerator-launch-system/articleshow/90772382.cms">NASA collaborates with SpinLAunch to test an innovative mass accelerator launch system — a slingshot to send payloads to space</a>

Shehbaz Sharif to be elected as Pakistan's new PM today amidst protests against Imran Khan's ouster

<ul class="summary-list"><li>A Pakistani living in the US went to the Turkish Embassy to anonymously donate $30 million to earthquake victims.</li><li>The prime minister of Pakistan said he was "deeply moved" by the act.</li></ul>A Pakistani living in the United States went to the Turkish Embassy to anonymously donate $30 million to those affected by a <a href="https://www.businessinsider.com/turkey-syria-earthquake-death-toll-disaster-of-the-century-2023-2">massive and deadly earthquake</a> that hit Turkey and Syria earlier this week, according to Pakistan's Prime Minister Shehbaz Sharif.In a <a href="https://twitter.com/CMShehbaz/status/1624339350216474626" target="_blank" rel="noopener">tweet on Saturday</a>, Sharif said he was "deeply moved" by the act."These are such glorious acts of philanthropy that enable humanity to triumph over the seemingly insurmountable odds," he said.Pakistan's government formed a committee on Thursday to collect funds and provide supplies for Turkey and Syria, Anadolu Agency, Turkey's state-run media agency, <a href="https://www.aa.com.tr/en/turkiye/pakistani-living-in-us-contributes-30m-to-earthquake-victims-in-turkiye-syria/2815890#">reported</a>. On Saturday, the Pakistan National Disaster Management Authority <a href="https://twitter.com/ndmapk/status/1624319220673650688?s=20&amp;t=qp-MOwmRJNiFk1qBDSAHbA">said on Twitter</a> that two more relief consignments were flying to "the sister and brothers" of Turkey to provide aid. <div type="image" title="Rescue workers carry Yigit Cakmak, 8-years-old survivor at the site of a collapsed building 52 hours after the earthquake struck, on February 08, 2023 in Hatay, Turkey. A 7.8-magnitude earthquake hit near Gaziantep, Turkey, in the early hours of Monday, followed by another 7.5-magnitude tremor just after midday" height="2132" width="2843" msid="97840808" hostid="261" sizebytes="358234"></div>The death toll from the 7.8 magnitude earthquake <a href="https://www.bbc.co.uk/news/world-middle-east-64608535" target="_blank" rel="noopener">surpassed 28,000</a> people this weekend, and thousands more are still reported missing as rescue efforts continue. Turkish President Recep Tayyip Erdogan has called the earthquake "the disaster of the century." As <a href="https://reliefweb.int/report/syrian-arab-republic/unhcr-over-5-million-may-need-shelter-support-syria-after-quake-enar">millions face displacement</a> from the disaster, donating money is <a href="https://www.insider.com/where-to-donate-to-help-earthquake-victims-turkey-and-syria-2023-2">the most efficient way</a> to support survivors, and the organizations are providing aid in the region, Insider reported.

An anonymous donor reportedly walked into the Turkish Embassy in the US and gave $30 million to aid victims of the devastating earthquake

<ul class="summary-list"><li>Imran Khan, until recently the leader of Pakistan, was shot on Thursday.</li><li>His political party said he was shot in the leg, and he was stable while he was taken to hospital.</li></ul>Former Pakistani Prime Minister Imran Khan was shot on Thursday as he led a political march against the administration that replaced him.Khan's political party, PTI, <a href="https://twitter.com/PTIofficial/status/1588143265639006209">said Khan</a> "was shot in the leg but was stable while being taken to hospital." It <a href="https://twitter.com/PTIofficial/status/1588150290699747331?s=20&amp;t=ogc4L8Um6CFb9u2LpxTcCQ">described the attack as</a> an "assassination attempt."Shehbaz Sharif, the country's current prime minister confirmed that he was shot, and said other people were also injured.Sharif <a href="https://twitter.com/CMShehbaz/status/1588145195492728832?s=20&amp;t=g5aaTVavS45IZIYtNA_L9g">condemned the shooting</a> and said it would be investigated.He said other people were also injured, and wrote "Violence should have no place in our country's politics."PTI shared a <a href="https://twitter.com/PTIofficial/status/1588143265639006209">video</a> that it said shows Khan, who is 70, waving to supporters after he was shot. It shows him standing and waving while an armed guard stands in front of him.Watch the video here:Asad Umar, an aide for Khan, <a href="https://www.reuters.com/world/asia-pacific/shots-fired-near-convoy-former-pakistan-pm-imran-khan-media-2022-11-03/">told Reuters</a> that Khan and several other people were injured in the shooting. He said Khan was injured in his shin."A man opened fire with an automatic weapon. Several people are wounded. Imran Khan is also injured," he said. There was no further information on who the man was.<a href="https://news.sky.com/story/imran-khan-shot-in-leg-in-assassination-attempt-former-pakistan-prime-ministers-supporters-say-12737148">Sky News reported</a> that Khan was shot in the leg while speaking to supporters. One of its reporters was in the crowd and witnessed the attack.Local media reported that he was shot in the foot, and that he was "out of danger," Reuters reported. Those reports said he was wounded when his convoy was shot at, according to Reuters.Khan was in Wazirabad, leading a protest march to Islamabad as part of efforts to call new elections in the country, according to Sky News.This video, shared by Khan on Tuesday, showed the scale of an earlier rally:Khan, who is now the chairman of the country's PTI political party, had been prime minister a little less than four years when he was ousted in April after <a href="https://www.aljazeera.com/news/2022/4/9/pakistan-prime-minister-imran-khan-no-confidence-vote">losing a parliamentary no-confidence vote.</a>He tried to block the vote, but was overruled by the country's Supreme Court and removed from office.Khan <a href="https://edition.cnn.com/2022/05/27/asia/pakistan-imran-khan-us-conspiracy-intl-hnk/index.html">claimed, without evidence, that he was the victim of an international US-led conspiracy to remove him</a>, and called on his supporters to take to the streets in marches like the one on Thursday, demanding new elections.The US has said that there is no truth to the allegations. It was <a href="https://www.aljazeera.com/news/2022/4/9/analysis-end-of-imran-khans-term">widely believed that Khan had lost the support of the military</a>, a major power-broker behind the scenes of Pakistani politics.Earlier this month <a href="https://www.bbc.co.uk/news/world-asia-63344059">Pakistan's election commission barred Khan from holding office for five years</a> over allegations that he failed to declare and sold some gifts given to him while in office. Khan denied all of the charges.

Former Pakistan PM Imran Khan shot in the leg in apparent assassination attempt at political march

<keyword id="3001" type="General" weightage="20" keywordseo="pakistan" source="Orion">Pakistan</keyword> is <keyword id="52011" type="General" weightage="20" keywordseo="south-asia" source="Orion">South Asia</keyword>'s <keyword id="16104235" type="General" weightage="20" keywordseo="weakest-economy" source="Orion">weakest economy</keyword>, and it will take a herculean effort to pull the country out of poverty, reported Islam Khabar. Pakistan is in the news for its economic meltdown amid natural disasters, food shortages, and poverty. Pakistan had unprecedented floods in July last year, devastating large swathes of farmlands. The forex reserves in the country which hit a new low of USD 4.6 billion would only be enough to pay for foreign import bills for three weeks. The analysts put Pakistan's need for relief at USD 33 billion. The world helped then and has renewed its pledge. Moved by the intervention by the UN Secretary-General, better-off nations have come forward with generous commitments of around USD 10 billion. Sensing the urgency, friends including Saudi Arabia and the UAE have chipped in with four billion dollars this month, reported Islam Khabar. It has been six months since the flood waters ebbed. But on-land traveller (SF Aizaduddin, Dawn January 11, 2023) writes that they remain underwater, with no sign of water management or renewed cultivation. It is understandable up to a point, though. But after so many months, there is an acute food shortage. Imagine the country with one of the world's most irrigated fertile wheat-growing land has a shortage of flour and no money to import it. Market reports say a PKR 1200 bag of 20 kg of flour has shot up to PKR 3,00, reported Islam Khabar. Dragging talks with the International Monetary Fund (IMF) put PKR at three months low. The Express Tribune (January 12, 2023) quoted a currency exchange expert, "The Pakistrupee's fair value is the one prevailing in the black market at Rs 260-270 to a dollar. The government has artificially kept the currency overvalued. It should let market forces determine the exchange rate meet an IMF's condition." Unsurprisingly, warning of another global recession, the World Bank on January 13, 2023 forecasted Pakistan's economic growth to slow further to two per cent during the current year -- down by two percentage points from its June 2022 estimate, reported Islam Khabar. The new excuse is climate change as if only Pakistan is affected. Prime Minister Shehbaz Sharif says the country will need USD 16.3 billion over the next three years for the initial efforts to rebuild and improve its ability to withstand climate change. Sharifs earlier called out Imran Khan for 'begging'. Now Khan is returning the same compliment. He had globe-trotted with a begging bowl, now he asks why Sharif 'wasted' money on going to the Geneva conference where aid pledges were made. 'Begging' continues, no matter who rules Pakistan. But, the country fails to acknowledge the damage caused by the China-Pakistan Economic Corridor to the fragile Himalayas in Gilgit-Baltistan, reported Islam Khabar. Farmers are reluctant to increase the area under wheat cultivation because of the delay in the announcement of support prices. They are demanding an "Agri-emergency" due to fertiliser shortage and weak crop outlook. Pakistan Kissan Ittehad (PKI) President Khalid Mehmood Khokhar said instead of boosting domestic wheat production, the government was "supporting farmers of other countries by buying the commodity at higher prices from them," reported Islam Khabar. In a report, it said Pakistan's declining economic output was also bringing down the regional growth rate. It forecast Pakistan's GDP growth rate to improve to 3.2 per cent in 2024, which would be lower than the earlier estimate of 4.2 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/investment-tips-from-indias-super-rich/slidelist/97062541.cms" style="">India super rich got richer, here’s is where they are parking their money</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/finance-minister-the-other-brains-behind-the-union-budget-who-are-burning-the-midnight-oil/articleshow/97061266.cms" style="">Finance Minister &amp; the other brains behind the Union Budget who are burning the midnight oil</a>

Pakistan is South Asia's weakest economy: World Bank report

<ul class="summary-list"><li>Recent reports from the United Nations found the world is failing to meet climate goals, and it could be catastrophic.</li><li>Some developing countries are calling on the top offenders, like the US and China, to pay reparations.</li></ul>It's not looking good for the future of the climate.On Wednesday, the United Nations Framework Convention on Climate Change released a <a href="https://www.washingtonpost.com/climate-environment/2022/10/26/united-nations-climate-pledges-report/?itid=lk_inline_manual_13">report</a> that found the majority of countries are significantly behind in revising — and meeting — their goals to combat the climate crisis, saying that the world is "nowhere near" the emissions cuts that it should be right now. And another new report from the UN on Thursday found that even with the strongest climate pledges, the Earth is on track to reach a dangerously high increase in average temperature of 2.4 degrees Celsius — the goal is 1.5 degrees Celsius — by the end of the century. "Global and national climate commitments are falling pitifully short," UN Secretary General António Guterres said in a statement. "We must close the emissions gap before climate catastrophe closes in on us all."And some countries want the biggest offenders to pay up. Politico <a href="https://www.politico.com/newsletters/power-switch/2022/10/25/rich-nations-flirt-with-climate-reparations-00063318">reported</a> that developing countries like Pakistan and Egypt, who have done little to cause the climate crisis, want rich countries that have added the most greenhouse gas emissions to the atmosphere like the US and China to pay climate reparations for the damage their pollution has caused the world.While reparations talks have been ongoing within the UN, the US has yet to seriously consider paying for any damage it's caused to the climate, and if Republicans end up clinching the majority in the House, Senate, or both in the midterm elections, the chance of reparations will be even slimmer.That's because spending to help foreign countries would require Congressional approval, and Republicans have a history of shutting the climate out of spending plans. GOP Sen. Ron Johnson recently <a href="https://www.businessinsider.com/activists-display-ron-johnson-statue-plastered-cow-dung-2022-9">called</a> climate change "bullshit," and even centrist Democrats, like Sen. Joe Manchin, expressed hesitancy with the scale of climate funding President Joe Biden proposed in his Inflation Reduction Act, which ended up including $400 billion in climate investments.Many countries are pushing for a more aggressive international financial commitment to fighting the crisis. Pakistan's Prime Minister Shehbaz Sharif <a href="https://e360.yale.edu/features/cop27-un-climate-conference-egypt-loss-and-damage">said</a> earlier this month that "this climate-induced catastrophe is beyond our fiscal means," and ahead of the annual UN conference next month, other countries are planning to ramp up calls for reparations.As Politico reported, other countries like Scotland and Denmark have already made small pledges to fight climate change, as well. US climate envoy John Kerry has not indicated what exactly the US will do financially when it comes to the climate crisis, but he <a href="https://apnews.com/article/united-states-john-kerry-climate-and-environment-government-politics-f9c07ea89d2120cf4c5904970268e2bb">told</a> reporters on Tuesday that "we believe we have to step up, and we have a responsibility. We accept that."Regardless, failure to act could be dire. "The climate crisis is killing us," Guterres said in a <a href="https://www.eurekalert.org/news-releases/968622">statement</a>. "It is undermining not just the health of our planet, but the health of people everywhere - through toxic air pollution, diminishing food security, higher risks of infectious disease outbreaks, record extreme heat, drought, floods and more."

The world is heading toward a climate catastrophe and countries want the US and other top offenders to pay up — but the GOP likely won't let that happen

<ul class="summary-list"><li>Months of floods submerged a third of Pakistan, causing billions in damages and killing at least 1,191 people.</li><li><a href="https://www.businessinsider.com/climate-change-alter-human-life-un-ipcc-report-2022-2">Rising temperatures due to </a><a href="https://www.businessinsider.com/climate-change-alter-human-life-un-ipcc-report-2022-2">climate change</a> lead to heavy rainfall and floods in many parts of the world.</li></ul><a href="https://www.businessinsider.com/videos-photos-pakistan-floods-killed-1000-monsoon-humanitarian-crisis-disaster-2022-8">Relentless rains in Pakistan</a> over two months have caused the country's worst flooding in more than a decade. Floodwaters have washed away roads, buildings, and crops. A third of the country, an area about the size of Colorado, is now underwater, according to the <a href="https://www.reuters.com/world/asia-pacific/un-issues-flash-appeal-160-million-help-pakistan-with-floods-2022-08-30/">country's climate minister.</a>Officials estimate that more than <a href="https://www.cnn.com/2022/08/25/asia/pakistan-flooding-climate-minister-intl-hnk/index.html">33 million Pakistanis</a> — one in seven people in the country — have been affected by the flooding. Two months of consecutive rain have killed 1,191 people as of Wednesday, according to Pakistan's <a href="http://cms.ndma.gov.pk/storage/app/public/situation-reports/August2022/AQxxCfU9o78SEudlTEyf.pdf">National Disaster Management Authority</a>."Pakistan is awash in suffering," Antonio Guterres, secretary general of the United Nations, said in a <a href="https://twitter.com/antonioguterres/status/1564556094680227841?s=20&amp;t=qsHdbX6KfBkS5JI9pG8fFw">video statement</a> Tuesday, while issuing an urgent appeal for $160 million in aid. "The Pakistani people are facing a monsoon on steroids — the relentless impact of epochal levels of rain and flooding," he added.Wealthy industrialized countries have pumped far more greenhouse gas emissions — a key driver of climate change — into the air than Pakistan, a low-emitting nation. But while the country's contribution to the climate crisis is minuscule, it's bearing more than its share of climate change's deadly effects.<div type="image" title="This aerial view shows a flooded residential area in Dera Allah Yar town after heavy monsoon rains in Jaffarabad district, Balochistan province on August 30, 2022." height="2210" width="3316" msid="93913415" hostid="261" sizebytes="692952"></div><h1>A 'monsoon on steroids' in Pakistan</h1>Since June, <a href="https://www.businessinsider.com/extreme-weather-across-us-triggers-fatal-floods-heat-emergency-2022-7">consecutive downpours</a> damaged or destroyed more than 1 million houses and 1,800 miles of roads, according to Pakistan Prime Minister Shehbaz Sharif. Early government estimates put the <a href="https://www.businessinsider.com/americans-keep-moving-to-disaster-prone-areas-new-report-warns-2022-4">damage from the floods</a> at more than $10 billion. "Seventy-two districts of Pakistan are in calamity and all four corners of Pakistan are underwater," Sharif said at a press conference Tuesday, according to <a href="https://www.theguardian.com/world/2022/aug/30/pakistan-monsoon-on-steroids-flooding-warning-antonio-guterres">The Guardian</a>. "I have not seen such devastation in my life," Sharif added.Satellite images below capture the scale of the devastation.<div type="image" title="Overview of a vilage and fields before and after flooding in Rajanpur, Pakistan as of August 28, 2022." height="1000" width="2000" msid="93913416" hostid="261" sizebytes="298878"></div>The summer monsoon season brings rain to the South Asian region from June until September. But this monsoon season, rainfall in Pakistan has been nearly three times the national average over the past 30 years, according to a <a href="https://reliefweb.int/report/pakistan/pakistan-2022-monsoon-floods-situation-report-no-03-26-august-2022">UN report</a> released in August.Sherry Rehman, Pakistan's climate change minister, said on Twitter that one town in Sindh saw 67 inches of rain in one day. "Unheard of, anywhere," Rehman <a href="https://twitter.com/sherryrehman/status/1564259863508799498">tweeted</a>.The disaster echoes the devastating <a href="https://earthobservatory.nasa.gov/features/PakistanFloods">2010 floods</a> in Pakistan, which killed more than 2,000.<h1><div type="image" title="Pakistani people wade through floodwater following flash flood in Hyderabad southern Sindh province Pakistan, August 30, 2022." height="3712" width="5568" msid="93913419" hostid="261" sizebytes="835868"></div>Floods hit more places and people due to climate change</h1>A growing body of research suggests human-caused climate change makes floods more likely and more severe, according to the latest report from the <a href="https://www.ipcc.ch/report/ar6/wg2/downloads/report/IPCC_AR6_WGII_FullReport.pdf">United Nations' Intergovernmental Panel on Climate Change</a>. Rising temperatures warm up the atmosphere, and warmer air can retain more water, leading to more intense rainfall and flooding events. <a href="https://www.businessinsider.com/melting-glaciers-reveal-human-remains-plane-wreck-swiss-alps-2022-8">Melting glaciers and snow</a> also contribute to flooding. Pakistan is home <a href="https://www.washingtonpost.com/world/asia_pacific/pakistan-has-more-glaciers-than-almost-anywhere-on-earth-but-they-are-at-risk/2016/08/11/7a6b4cd4-4882-11e6-8dac-0c6e4accc5b1_story.html">more than 7,200 glaciers</a>, but <a href="https://www.businessinsider.com/antarctica-thwaites-glacier-ice-shelf-will-shatter-scientists-say-2021-12">rising global temperatures</a> due to climate change are causing them to melt fast, creating glacial lakes and threatening further floods.<div type="image" title="Children swim in flood waters along with buffalos on the outskirts of Sukkur, Sindh province, on August 30, 2022." height="3298" width="4946" msid="93913420" hostid="261" sizebytes="1882776"></div>Rehman said at a press conference Tuesday that towns had become "oceans and rivers," but she expects the country to go into a drought in upcoming weeks, according to <a href="https://www.theguardian.com/world/2022/aug/30/pakistan-monsoon-on-steroids-flooding-warning-antonio-guterres">The Guardian</a>. "We are on the front of unfolding climate catastrophe," she added.<h1>'It is not our fault at all'</h1>Despite producing <a href="https://www.unep.org/gan/news/press-release/pakistan-develop-national-adaptation-plan-climate-change">less than 1%</a> of global greenhouse gas emissions, <a href="https://ourworldindata.org/co2/country/pakistan">according to Our World in Data</a>, Pakistan is bearing some of the worst effects of climate change."We are suffering from it, but it is not our fault at all," Sharif told reporters Tuesday.Pakistan ranked among the top 10 countries most vulnerable to climate change in the 2021 <a href="https://www.germanwatch.org/en/19777">Global Climate Risk Index</a> compiled by Germanwatch, an environmental think tank.<div type="image" title="Brick kiln workers carry their belongings and move following flash flood in Hyderabad southern Sindh province Pakistan, August 30, 2022." height="1944" width="2896" msid="93913422" hostid="261" sizebytes="332170"></div>Guterres called South Asia a "climate crisis hotspot," where people were <a href="https://press.un.org/en/2022/sgsm21429.doc.htm">15 times more likely</a> to die from climate impacts than those living elsewhere. "As we continue to see more and more extreme weather events around the world, it is outrageous that climate action is being put on the back burner as global emissions of greenhouse gasses are still rising, putting all of us — everywhere —in growing danger," Guterres said in the <a href="https://twitter.com/antonioguterres/status/1564556094680227841?s=20&amp;t=qsHdbX6KfBkS5JI9pG8fFw">video statement</a> Tuesday."Let's stop sleepwalking towards the destruction of our planet by climate change," he said, adding, "Today, it's Pakistan. Tomorrow, it could be your country."

Deadly floods in Pakistan highlight a troubling problem. It's at the center of the climate crisis, but barely contributes to global emissions.

In the 2008 Batman movie “The Dark Knight”, Harvey Dent – played by Aaron Eckhart – says, “You either die a hero, or you live long enough to see yourself become the villain.” <keyword id="3001" type="General" weightage="20" keywordseo="pakistan" source="Orion">Pakistan</keyword>’s yesteryear cricketing hero <keyword id="14676" type="General" weightage="50" keywordseo="imran-khan" source="Orion">Imran Khan</keyword> was ousted as Pakistan's prime minister (PM) after a vote of no-confidence last week. While he led his cricket team to victory during the 1992 Cricket World Cup, he failed to bring the same charisma to politics, where he was run out by hell-bent opponents, the Pakistan People’s Party (PPP) and Pakistan Muslim League – Nawaz (PML-N), in his first <keyword id="585867" type="General" weightage="20" keywordseo="Innings" source="Orion">innings</keyword>. <keyword id="6355601" type="General" weightage="100" keywordseo="khan" source="Orion">Khan</keyword> may not be a villain here, but a victim of history, perhaps. Khan was not the first prime minister to leave before completing his 5-year parliamentary tenure. Not a single one of them could not complete the full <a href="https://www.aljazeera.com/news/2022/4/9/factbox-no-pakistani-prime-minister-has-completed-a-full-tenure">tenure</a>. However, he was the first premier to be forced out of the parliament through a trust vote. Ironically, Pakistan’s powerful army and public support that brought Khan into power in 2018, were also among the main reasons behind his downfall now. He was elected in July on a platform of tackling corruption, fixing the economy for the poor with ample employment opportunities and building a ‘Naya Pakistan’ (new). Some <a href="https://www.aljazeera.com/news/2022/4/9/analysis-end-of-imran-khans-term">observers </a>believe that he was ousted on the account of skyrocketing <a href="https://economictimes.indiatimes.com/news/international/world-news/imran-khan-admits-pakistan-facing-massive-inflation-attempts-to-link-it-as-global-phenomenon/articleshow/89078297.cms?from=mdr">inflation </a>and ballooning foreign <a href="https://www.business-standard.com/article/international/pakistan-govt-s-external-debt-rises-by-20-in-h1-fy22-hits-rs-21-trn-122022600225_1.html#:~:text=Pakistan%20government's%20external%20debt%20rose,21%20trillion%20in%20December%202021.">debt</a>. Let’s go back to the beginning of this end, shall we? A rocketing cost of living in Pakistan, the Pakistani Rupee falling against the US Dollar and a deepening economic crisis contributed to public disgruntlement against Khan. The <a href="https://www.business-standard.com/topic/pakistan">Pakistan</a> government's <a href="https://www.business-standard.com/topic/external-debt">external debt</a> rose by a massive 20% in the first half of the last fiscal (2021-22) reaching a high of PKR21 trillion in December 2021. <div type="image" title="Pakistan&amp;#39;s debt trap" msid="90854314" hostid="261" caption="&amp;lt;p&amp;gt;Pakistan&amp;#39;s debt trap&amp;lt;/p&amp;gt;"></div> By borrowing from foreign countries, Khan flouted yet another campaign promise made to his audience. In 2018, he criticised the previous ruling parties for relying on a “<a href="https://economictimes.indiatimes.com/news/international/world-news/no-country-with-begging-bowl-can-become-great-nation-pakistan-pm/articleshow/84522483.cms">begging</a> bowl’’ and pledging not to resort to external borrowing. Just a year later, Khan struck a deal with the International Monetary Fund. His government broke all previous records by borrowing $16 <a href="https://www.aljazeera.com/opinions/2019/7/26/imran-khans-first-year-in-office-u-turns-and-oppression">billion </a>in just one year, the biggest loan ever since the creation of Pakistan in 1947. These retractions of campaign promises gained him the embarrassing nickname “U-turn Khan.” <div type="image" title="Imran Khan has been making a u-turn on his campaign promises" msid="90854381" hostid="261" caption="&amp;lt;p&amp;gt;Imran Khan has been making a u-turn on his campaign promises&amp;lt;/p&amp;gt;"></div> The ruling party was also grappling with the country’s double-digit <a href="https://foreignpolicy.com/2022/03/25/pakistan-inflation-imran-khan-no-confidence-vote/#:~:text=Pakistan%20has%20grappled%20with%20extreme,at%2015.1%20percent%20last%20week.">inflation </a>for much of its term. The sensitive price index, which includes the prices of essential food items, also recorded a rise of <a href="https://www.ft.com/content/870369af-b673-4ce5-bd86-d89d28be4d40">15.1</a>% in March this year compared to the same time last year. The pressure on Khan reached new heights in the wake of Russia’s invasion of Ukraine, causing a surge in global oil prices. <div type="image" title="Pakistan&amp;#39;s inflation has been running high since 2019" msid="90854408" hostid="261" caption="&amp;lt;p&amp;gt;Pakistan&amp;#39;s inflation has been running high since 2019&amp;lt;/p&amp;gt;"></div> Sensing the eroding public support, Khan announced a <a href="https://www.atlanticcouncil.org/blogs/southasiasource/experts-react-pakistani-prime-minister-imran-khan-cuts-fuel-and-electricity-prices/">cut </a>in domestic fuel and electricity prices despite a global rise, which later turned out to be the final nail in his coffin. This move added to Pakistan’s chronic fiscal deficit and balance-of-payments troubles, which opened a clear window for Khan’s opposition to call for his resignation later. Khan’s democratic party seemingly wasn’t open to dissent either. Rana Sanaullah, a prominent parliamentarian and vocal critic of Khan’s government, was arrested in 2019 for allegedly trafficking drugs by the military-run anti-narcotics force. Sanaullah had <a href="https://twitter.com/hamidmirpak/status/1145686276886224896?lang=en">predicted </a>his arrest even before there was a warrant against him. Later on July 25, former Prime Minister <keyword id="6576" type="General" weightage="50" keywordseo="nawaz-sharif" source="Orion">Nawaz Sharif</keyword> took to the streets across Pakistan to <a href="https://www.aljazeera.com/news/2019/7/25/pakistan-opposition-holds-black-day-protests-against-pm-khan">protest </a>Khan’s assault on silencing dissenting voices. The account of what went wrong would be incomplete without mentioning the civil-military relationship, which took a turn for the worse after the reshuffle of army chiefs. Khan’s decision to <a href="https://www.bbc.com/news/world-asia-61047736">retain </a>Lieutenant-General Faiz Hameed as the Inter-Services Intelligence (ISI) chief, rejecting the nominee of army chief General Qamar Bajwa in October 2021, further weakened the former PM’s political position. He <a href="https://www.bbc.com/news/world-asia-61047736">held </a>off issuing approval to change of posting for nearly three weeks before eventually giving in. After Bajwa <a href="https://indianexpress.com/article/pakistan/pakistan-isi-chief-faiz-hameed-7556079/">replaced </a>Hameed as the Director-General of ISI in October, Khan reportedly lost his support from the army. Khan is the latest in a long line of Pakistani prime ministers who have fallen out of their position before completing their five-year tenure. The newly appointed PM Shehbaz Sharif inherits a country in a parlous state, with a dysfunctional economic model.

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