Pakistan says ‘ready to assist’ as Bangladesh deaths from dengue cross 400

ISLAMABAD: Pakistan will launch its first fully indigenous Electro-Optical (EO-1) satellite today, Friday, to help predict natural disasters and monitor resources, Pakistani state media reported.
The EO-1 satellite will be launched from China’s Jiuquan Satellite Launch Center. The launch represents the Space and Upper Atmosphere Research Commission’s (SUPARCO) dedication and expertise in advancing Pakistan’s technological capabilities in space science.
The satellite will enhance the country’s ability to monitor and manage natural resources, predict and respond to natural disasters, support food security and drive economic growth through informed decision-making and sustainable development.
“Designed and developed entirely by Pakistani engineers, EO-1 satellite is expected to provide substantial benefits across various sectors,” the Radio Pakistan broadcaster reported.
Pakistan has witnessed erratic, frequent changes in its weather patterns, including floods, droughts, cyclones, torrential rainstorms, heatwaves and the slow-onset threat of glacial melting, in recent years that scientists have blamed on human-driven climate change.
In 2022, unusually heavy rains triggered floods in many parts of the country, killing over 1,700 people, inflicting economic losses of around $30 billion, and affecting at least 30 million people.
In urban development, the EO-1 satellite can help track infrastructure growth, manage urban sprawl and aid city and regional planning efforts. It will provide timely updates on floods, landslides, earthquakes, deforestation and land erosion in terms of environmental monitoring and disaster management, according to Pakistani state media.
The satellite will also support extraction and conservation strategies for natural resources, such as the monitoring of minerals, oil and gas fields, glacier recession and water resources.
Pakistan has taken strides in its space research program in the past few months. In Nov. last year, SUPARCO announced its rover will join China’s Chang’E 8 mission to explore the moon’s surface in 2028.
In May 2024, Pakistan launched its first lunar satellite aboard China’s Chang’e-6 probe, which was tasked with landing on the far side of the moon that perpetually faces away from the Earth. China was the first country to make such an ambitious attempt.

ISLAMABAD: The United Arab Emirates (UAE) has confirmed a rollover of $2 billion deposits with Pakistan, the Pakistani central bank said on Thursday.

The Gulf country has rolled over the deposits with Pakistan’s central bank since 2023, helping the South Asian country shore up its foreign exchange reserves, strengthen its currency and secure financial bailouts from the International Monetary Fund (IMF).

Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles and the South Asian country secured a $7 billion, 37-month loan program from the IMF in Sept. last year. The next review of the program is expected in February.

“UAE has confirmed rollover of its two deposits of $1.0 billion each placed with State Bank of Pakistan for another one year, which were maturing in January 2025,” the Pakistani central bank said in a statement.

The development comes more than a week after Prime Minister Shehbaz Sharif met UAE President Sheikh Mohamed bin Zayed Al-Nahyan in the Pakistani city of Rahim Yar Khan. Sharif later told his cabinet that the UAE president had agreed to roll over the $2 billion loan, which was due to mature this month.

The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. It is also home to more than a million Pakistani expatriates, who are one of the major sources of remittances to the South Asian country.

In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistani caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos, Switzerland to attend 54th summit of the World Economic Forum (WEF).

Pakistan’s foreign exchange reserves stood at $16.45 billion as of January 10, with SBP-held reserves at $11.73 billion, according to the central bank.

In the past, Pakistan has also secured external financing, a key condition for IMF bailouts, from longtime allies Saudi Arabia and China.