Latest news with #BreathePakistan
Express Tribune
08-02-2025
- Business
- Express Tribune
PM calls for urgent climate action
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday emphasised that the two-day global climate conference, Breathe Pakistan, should act as a "resounding call" for a cleaner and greener future for Pakistan's next generations. In his televised address on the second day of the conference, the Prime Minister stated: "Developing countries like Pakistan need more predictable, flexible, and grant-based financial support to build resilient infrastructure and invest in sustainable development. Without such support, the path to climate adaptation and green transformation will remain elusive. Let us make Breathe Pakistan our call to action for a cleaner, greener, and more resilient Pakistan." He further highlighted Pakistan's "cruel paradox," where, despite contributing less than 1% of global emissions, the country faces severe climate impacts, including floods, glacial melt, heatwaves, and droughts. The second day of Breathe Pakistan featured experts, policymakers, and industry leaders addressing the country's escalating climate crisis. With Pakistan grappling with extreme weather, water scarcity, and environmental degradation, speakers urged for immediate action to build climate resilience. Romina Khurshid Alam, the Prime Minister's Coordinator on Climate Change, set a defining tone for the event, stating, "Pakistan is on the frontlines of climate change, paying the price for a crisis created by others." She stressed that Pakistan must not remain passive but become an active force in shaping climate solutions. A key discussion point was Pakistan's updated Electric Vehicle (EV) policy, with Parliamentary Secretary Wajeeha Qamar presenting new incentives to promote clean transportation and reduce emissions. Meanwhile, Senior Minister Marriyum Aurangzeb announced a Rs100 billion allocation for climate resilience projects and Rs10 billion for smog mitigation in Punjab. She also introduced Pakistan's initiative to collaborate with neighbouring countries like India to combat transboundary air pollution, noting, "Climate change knows no borders, and cooperation is essential." Another major focus was the Living Indus project, which environmental expert Aban Marker Kabraji described as Pakistan's strategy for adapting to an unpredictable future. She called for long-term water conservation efforts to safeguard the Indus Basin. UNICEF Representative Abdullah Fadil urged for the integration of climate education into school curriculums and proposed the formation of a national volunteer corps to mobilise youth for environmental action. "The challenge now is to turn conference discussions into real-world mobilization of millions of young people," he stressed. As the conference continues, attention remains on turning pledges into concrete actions, focusing on green financing, regional cooperation, and tech-driven climate strategies. WITH ADDITIONAL INPUT FROM APP
Express Tribune
07-02-2025
- Business
- Express Tribune
FinMin for moving beyond policy prescriptions
Listen to article ISLAMABD: Minister for Finance Muhammad Aurangzeb on Thursday stressed the need for adopting the policies framed to address climate change-related challenges on a fast-track basis by moving beyond "policy prescriptions." "There is no dearth of policy prescriptions; it is all about how and who. I sincerely hope this conference will address the operationalisation issues," he said at an international climate change conference titled "Breathe Pakistan." He said Pakistan was one of the most vulnerable countries to climate change and urgently needed to make mitigation efforts. However, the real and bigger issue was the adoption of policies in true letter and spirit. In that regard, he cited the National Adaptation Plan (NAP) and the National Climate Finance Strategy (NCFS) that Pakistan announced in Baku, Azerbaijan, in November 2024. The launch of the strategy took place at the United Nations-led global climate conference, COP29, setting forth a framework to scale up climate-related investments, attract international financing and strengthen domestic financial systems. It also called for enhancing resilience of different sectors, clarifying institutional roles and improving access to diverse funding channels. He said the NCFS had been aligned with Pakistan's Nationally Determined Contributions (NDCs) under the Paris Agreement with the aim of closing the estimated $348 billion climate finance gap by 2030. The minister expressed gratitude to the Vulnerable Twenty (V20) group, which was working on a comprehensive climate prosperity plan, expected to be unveiled in April. Aurangzeb mentioned that the State Bank of Pakistan (SBP) would issue comprehensive guidelines on a green economy framework, including how to structure, monitor and finance green initiatives. "It is important to have a green economy framework as we move forward," he remarked. He also commented on the pledges made by donors, world-leading financial institutions and countries at various sessions of the Conference of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). Turning to the national economy, the finance minister noted that Pakistan had made significant progress on the macroeconomic front in the last 12 to 14 months with inflation dropping to 2.4% in January. "More importantly, on the back of this macroeconomic stability, we are executing structural reforms and strengthening the tax net," he said and praised the provincial governments for passing legislation on the agricultural income tax, which was "a key step towards expanding the tax net." He talked about the government's austerity measures, highlighting the rightsizing efforts targeted at the federal ministries and attached departments, in addition to abolishing the vacant posts as part of earlier announcements to curtail state expenditures. During the day, Finance Minister Aurangzeb also held separate meetings with former caretaker finance ministers Shahid Javed Burki and Shamshad Akhtar at the Finance Division. In the meetings, views were exchanged on Pakistan's economic progress and the government's strategic efforts to restore macroeconomic stability and lay the foundation for sustainable economic growth.
