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Asia is most affected by climate change, and Pakistan’s Hindu Kush range has below-average rainfall. UN

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As per the United Nations report on Tuesday, Asia will be the most disaster-prone region globally in 2023 due to weather and climate risks. The primary causes of deaths and economic losses were storms and floods.

Last year, record highs were reached worldwide, with Asia warming at a particularly quick rate, according to the UN’s weather and climate organisation.

As glaciers melt and endanger the region’s future water security, the World Meteorological Organisation reported that heatwaves in Asia were growing increasingly intense.

In the Hindu Kush mountain range in Pakistan and Afghanistan, as well as the Himalayas, precipitation levels were below average.

Almost every month of the year saw precipitation levels below average in southwest China, which was experiencing a drought.

Out of the Polar Regions, the High-Mountain Asia region, located on the Tibetan Plateau, has the greatest amount of ice.

Asian temperatures last year were almost two degrees Celsius higher than the 1961–1990 average, according to the WMO, which stated that the region is warming more quickly than the rest of the world.

Celeste Saulo, head of WMO, said in a statement that the report’s findings are “sobering.”

“2023, a plethora of extreme weather events, including heatwaves, floods, and storms, hit many countries in the region, making it the hottest year ever recorded.The frequency and intensity of these occurrences were increased by climate change, which had a significant negative influence on businesses, communities, and—most importantly—our environment.

Significant consequences for the region’s economy, ecosystems, and cultures will result from the rapid acceleration of major climate change indicators like sea level rise, glacier retreat, and surface temperature, according to the State of the Climate in Asia 2023 assessment.

“In 2023, weather, climate, and water-related hazards continued to make Asia the world’s most disaster-prone region,” according to the WMO.

2023 saw the second-highest annual mean near-surface temperature over Asia on record, 1.87 C over the 1961-1990 average and 0.91 C above the 1991-2020 average.

From eastern China to Japan, as well as from western Siberia to central Asia, exceptionally high average temperatures were noted, the research stated, with Japan experiencing its hottest summer ever.

Many of these glaciers have been retreating for a number of decades, and they are retreating faster now, according to the WMO, which reported that last year 20 of the 22 glaciers in the region that were being monitored showed ongoing mass loss.

The northwest Pacific Ocean saw the highest sea surface temperatures ever recorded in 2023, according to the analysis.

In Asia last year, there were reports of 79 disasters linked to weather-related water dangers. With over 2,000 fatalities and nine million people directly impacted, floods and storms accounted for more than 80% of them.

In 2023, floods accounted for a significant portion of all reported deaths, according to the WMO, which also highlighted Asia’s ongoing high susceptibility to natural disasters.

On September 7, a typhoon caused Hong Kong to record the largest amount of rainfall in history—158.1 millimetres in an hour. Records go back to 1884.

According to the WMO, improved, customised information for officials tasked with lowering the risks of disasters was urgently needed from national weather agencies throughout the region.

“We have to make sure that our plans and actions reflect the urgency of the moment,” Saulo declared.

It is essential—rather than just a choice—to cut greenhouse gas emissions and adjust to the changing climate.

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Business

Pakistan’s gold prices continue to decline.

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The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

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Price of LPG “slashed” by Rs. 20 per kilogram

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Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

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ADB delegation stops by FBR headquarters

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Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.

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