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
Key Financial Deadlines That Have Been Extended For December 2025; Know The Last Date
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
Business
Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time
Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.
The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.
Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.
On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.
Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.
Global cues
Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.
According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.
China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.
Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.
US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.
The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.
Business
South Korea: Online retail giant Coupang hit by massive data leak
Osmond ChiaBusiness reporter
Getty ImagesSouth Korea’s largest online retailer, Coupang, has apologised for a massive data breach potentially involving nearly 34 million local customer accounts.
The country’s internet authority said that it is investigating the breach and that details from the millions of accounts have likely been exposed.
Coupang is often described as South Korea’s equivalent of Amazon.com. The breach marks the latest in a series of data leaks at major firms in the country, including its telecommunications giant, SK Telecom.
Coupang told the BBC it became aware of the unauthorised access of personal data of about 4,500 customer accounts on 18 November and immediately reported it to the authorities.
But later checks found that some 33.7 million customer accounts – all in South Korea – were likely exposed, said Coupang, adding that the breach is believed to have begun as early as June through a server based overseas.
The exposed data is limited to name, email address, phone number, shipping address and some order histories, Coupang said.
No credit card information or login credentials were leaked. Those details remain securely protected and no action is required from Coupang users at this point, the firm added.
The number of accounts affected by the incident represents more than half of South Korea’s roughly-52 million population.
Coupang, which is founded in South Korea and headquartered in the US, said recently that it had nearly 25 million active users.
Coupang apologised to its customers and warned them to stay alert to scams impersonating the company.
The firm did not give details on who is behind the breach.
South Korean media outlets reported on Sunday that a former Coupang employee from China was suspected of being behind the breach.
The authorities are assessing the scale of the breach as well as whether Coupang had broken any data protection safety rules, South Korea’s Ministry of Science and ICT said in a statement.
“As the breach involves the contact details and addresses of a large number of citizens, the Commission plans to conduct a swift investigation and impose strict sanctions if it finds a violation of the duty to implement safety measures under the Protection Act.”
The incident marks the latest in a series of breaches affecting major South Korean companies this year, despite the country’s reputation for stringent data privacy rules.
SK Telecom, South Korea’s largest mobile operator, was fined nearly $100m (£76m) over a data breach involving more than 20 million subscribers.
In September, Lotte Cards also said the data of nearly three million customers was leaked after a cyber-attack on the credit card firm.
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