Business
Poor planning not deforestation to blame for devastation | The Express Tribune
ISLAMABAD:
Pakistan inherited the legacy of British Forestry institutional and legal framework. Khyber-Pakhtunkhwa (K-P) holds 40% of the country’s forest share, making it the richest province in this respect.
Within K-P, 14.1% of the total land area is covered with forests. The northern, north-western, and eastern parts of K-P are steep and mountainous, making them highly vulnerable to erosion and landslides.
Yet, these forests provide freshwater to major rivers running from north to south of the country. They also offer habitat for biodiversity, promote tourism, preserve natural beauty, and stabilise climate impacts on humans and other species.
Forests act as the lungs of Pakistan by absorbing carbon dioxide and supplying oxygen through carbon sequestration. They balance the environment in both time and space. Beyond these services, they provide food, shelter, fruit, and livelihoods. Forestry plays many roles in stabilising nature, but flood and erosion control is one of the most vital.
Forests and their ecosystems stabilise soil and protect it from erosion. The K-P forest department, working with local communities, forest landowners, and other stakeholders, carries out plantation drives twice a year during spring and monsoon seasons.
Major programmes include the Tarbela watershed plantation, social and farm forestry, Kalam integrated forestry, and the Billion and Ten Billion Tree plantation drives. Recently, the Green Pakistan Programme was also launched.
Hundreds of thousands of acres have been planted and protected through natural regeneration. Some of these projects received technical and financial support from the World Bank, WFP, GIZ, KFW, USAID, FAO, Dutch agencies, and UN organisations, while others were locally supported.
The Billion Tree programme was entirely funded by K-P, while the Ten Billion and Green Pakistan initiatives were financed jointly by the provinces and the federation.
Pakistan gained significant recognition for these pioneering projects, particularly the Billion and Ten Billion Tree programmes. They helped the country achieve the Bonn Challenge; restoring 150 million hectares of degraded and deforested land by 2020 and targeting 350 million hectares by 2030. These efforts brought international goodwill and respect for Pakistan’s commitment to forestry.
Despite these achievements, the recent floods in K-P sparked criticism, with some blaming deforestation for the devastation. Most critics, however, are either non-professionals or using the argument for point-scoring.
Monsoon rains have been part of the region’s history for centuries, and the north-eastern parts of K-P regularly receive heavy showers. Flood disasters are not unique to Pakistan, India, China, and other regional countries also face similar challenges.
Forests do reduce the intensity of rainfall by intercepting drops, but steep terrain, surface runoff, and soil saturation often result in flash floods regardless. Trees are living entities with life cycles, and their timber supports many needs at an economically viable age.
Exploitation beyond carrying capacity poses risks, but the forest department is already regulating usage under forestry laws. Importantly, Pakistan also achieved its first carbon credits in the forestry sector for mangrove restoration in Sindh.
If deforestation alone were responsible for floods, then how do we explain Karachi’s crisis? With less than two days of rain, life in the city is paralysed, schools close, offices shut, and people face severe losses. Karachi is flat and barely above sea level, yet devastation is immense.
In contrast, K-P has endured downpours for nearly two weeks. This contrast highlights the real culprits: unplanned infrastructure and obstruction of natural waterways.
Blaming forests or climate change alone oversimplifies the issue. Climate change is indeed a pressing factor, but it is often discussed superficially.
A look back at the Ice Age reveals that CO2 once fell below 190 ppm, with the lowest levels at 182 ppm. Below 150 ppm, most terrestrial plants could not survive. This shows that while global warming beyond tolerable limits is dangerous, some degree of warming is essential for life on Earth. Human responsibility for pushing warming beyond safe thresholds cannot be ignored.
Most natural forests in K-P belong to local communities but are managed by the forest department. The International Union for Conservation of Nature (IUCN) reports that only 7% of forests are government-owned, while 93% belong to people and communities.
Legal forest categories in K-P include reserved forests, which are government-owned, and protected or Guzara forests, which belong to local people but are managed by the department. Community and private forests also exist.
In the early 1970s, the K-P forest department-initiated tree plantations and soil conservation on private grazing lands in the Tarbela watershed. Agreements with landowners allowed planting of trees and soil conservation to reduce erosion and prolong Tarbela reservoir’s life.
Accusing the forest department alone for deforestation is therefore unjustified, since most forests belong to communities. Still, under law, the department must manage them to protect ecosystems. Property rights, community ownership, and open access make management highly challenging.
Another obstacle is the sheer scale of forest areas, which are open and boundary-less, unlike urban banks that are heavily guarded yet still robbed. Expecting forest staff to control vast, open lands without strong governance structures is unrealistic.
Thus, the issue goes deeper than forestry staff or tree cover. It is about poverty, community rights, and governance. Policymakers must recognise these ground realities.
Strengthening forest protection requires supporting local communities, reducing poverty-driven dependence on forests, and improving management practices. Only then can K-P’s forests be safeguarded while also minimising flood risks.
THE WRITER HOLDS A PHD IN FORESTRY AND IS A CLIMATE CHANGE, FORESTRY, AND ENVIRONMENT EXPERT
Business
BP cautions over ‘weak’ oil trading and reveals up to £3.7bn in write-downs
BP has warned it expects to book up to five billion dollars (£3.7 billion) in write-downs across its gas and low-carbon energy division as it also said oil trading had been weak in its final quarter.
The oil giant joined FTSE 100 rival Shell, after it also last week cautioned over a weaker performance from trading, which comes amid a drop in the cost of crude.
BP said Brent crude prices averaged 63.73 dollars per barrel in the fourth quarter of last year compared with 69.13 dollars a barrel in the previous three months.
Oil prices have slumped in recent weeks, partly driven lower due to US President Donald Trump’s move to oust and detain Venezuela’s leader and lay claim to crude in the region, leading to fears of a supply glut.
In its update ahead of full-year results, BP also said it expects to book a four billion dollar (£3 billion) to five billion dollar (£3.7 billion) impairment in its so-called transition businesses, largely relating to its gas and low-carbon energy division.
But it said further progress had been made in slashing debts, with its net debt falling to between 22 billion and 23 billion dollars (£16.4 billion to £17.1 billion) at the end of 2025, down from 26.1 billion dollars (£19.4 billion) at the end of September.
It comes after the firm’s surprise move last month to appoint Woodside Energy boss Meg O’Neill as its new chief executive as Murray Auchincloss stepped down after less than two years in the role.
Ms O’Neill will start in the role on April 1, with Carol Howle, current executive vice president of supply, trading and shipping at BP, acting as chief executive on an interim basis until the new boss joins.
Ms O’Neill’s appointment has made history as she will become the first woman to run BP – and also the first to head up a top five global oil company – as well as being the first ever outsider to take on the post at BP.
Shares in BP fell 1% in morning trading on Wednesday after the latest update.
Business
Budget 2026: Kolkata realtors seek tax relief, revised affordable housing cap; eye demand revival – The Times of India
Real estate developers in Kolkata have urged the Centre to use the Union Budget to recalibrate housing policies to reflect rising land and construction costs, calling for higher tax benefits for homebuyers and a long-pending revision of the affordable housing definition to revive demand, especially in the mid-income segment, PTI reported.With the Budget set to be tabled on February 1, industry players said measures such as revisiting price caps for affordable homes, rationalising GST on under-construction properties and easing approval processes could significantly improve affordability and sales momentum.Sushil Mohta, president of CREDAI West Bengal and chairman of Merlin Group, said reforms must align with current market realities. “Revisiting the affordable housing definition, rationalising housing loan interest deductions and streamlining GST rates will significantly improve affordability and demand, especially for middle-income homebuyers,” he told PTI, adding that a policy push for rental housing and wider access to formal housing finance is crucial amid rapid urbanisation.Mahesh Agarwal, managing director of Purti Realty, said continued policy support through tax rationalisation and infrastructure spending remains critical. “A re-evaluation of affordable housing price limits in line with rising land and construction costs, along with adjustments to GST on under-construction property, will enhance affordability,” he said, stressing that simpler tax frameworks and incentives for first-time buyers would help stabilise the market and speed up project execution.Echoing similar concerns, Merlin Group MD Saket Mohta pointed to sharp increases in construction costs since the introduction of GST in 2017, underscoring the need for further rationalisation. He also called for raising the affordable housing price cap from Rs 45 lakh to around Rs 80–90 lakh and expanding unit size norms. “Mid-income housing will be the key demand driver going into 2026, and supportive tax and policy measures are essential to sustain growth,” he said.Eden Realty MD Arya Sumant said the Budget must strike a balance between fiscal discipline and growth-oriented reforms. “Higher home loan interest deductions for mid-income and first-time buyers, an updated affordable housing definition, GST rationalisation and faster approvals will improve project viability and speed-to-market,” he said, adding that sustained urban infrastructure investment would unlock demand across residential and commercial segments.Sahil Saharia, CEO of Bengal Shristi Infrastructure Development Ltd, said policy focus should shift towards large, integrated developments. “Support for mixed-use townships, rental housing and commercial hubs, along with faster clearances and digital single-window mechanisms, can help create self-sustained urban ecosystems and improve execution efficiency,” he said.Developers said clear and stable policy signals in the Budget could help restore homebuyer confidence, attract long-term capital and ensure sustainable growth for the real estate sector in eastern India.
Business
Power sector’s circular debt shoots up by Rs223 billion – SUCH TV
Circular debt in the power sector has increased in the first five months of the ongoing financial year (FY). Sources told that the debt shot up by Rs223 billion since July 2025 to reach Rs1,837 billion in November 2025 within two months of the signing of agreements to reduce the debt by Rs1225 billion.
Despite the fact that the government had signed agreements with banks in September last year to reduce the debt, it increased by Rs144 billion in October and November.
In September, the debt stood at Rs1,693 billion, while it was Rs1,614 billion in June 2025.
Sources informed that compared with November 2024, the debt in November 2025 came down by Rs544 billion.
It was Rs2,381 in November 2024, they added.
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