Inside Financial Markets



ISLAMABAD, Sep 09, 2014 (Xinhua via COMTEX News Network) —

China on Tuesday handed Pakistan a total of 70,000 U.S. dollars cash support for the flood- affected people in the country.

The main handing ceremony was held at the foreign ministry building in the capital where Chinese Ambassador to Pakistan Sun Weidong handed over a cash support of 20,000 dollars from the Chinese embassy in Islamabad to Pakistan’s Foreign Secretary Aizaz Ahmad Chaudhry.


Earlier on Tuesday in another occasion, the Chinese embassy to Islamabad, on behalf of the Red Cross of China, also handed over a cash aid of 50,000 dollars to the Pakistan Red Crescent Society ( PRCS) for the flood-affected people.

Sun said “China stands ready to extend more necessary assistance to Pakistan as a closest friend”, adding “China believes that under the leadership of Pakistani Prime Minister Nawaz Sharif, people in the affected areas will rebuild their homes soon and will overcome the current difficulties.”

Pakistani Foreign Secretary Chaudhry thanked the Chinese ambassador on behalf of the Pakistani government for the kind gesture and care to share the grief of the people affected by the floods.

“With a friend like China around us, we are doubly confident that this hour of trial will be prevailed by mobilizing all resources,” said the foreign secretary.

According to the National Disaster Management Authority (NDMA) of Pakistan, at least 205 people have been killed and 384 others injured, while over half a million people got affected so far in the floods that hit the eastern and northern parts of the country.

The rains-triggered floods that started on Sept. 3 have also damaged 7,183 houses, perished over 2,000 cattle and washed away standing crops in eastern Punjab province, Gilgit-Baltistan, and Pakistan administered Jammu and Kashmir region.

Rescuers of civilian institutions and private organizations, and personnel from the Pakistan army have been conducting the rescue operation to lift the stranded people to the safe places besides providing them foods and medical facilities.

As the torrential floods are heading towards the southern part of the country, the government of Pakistan has declared emergency in the southern province of Sindh and has asked officials and rescue teams to remain alert to deal with the upcoming situation.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)