ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Tuesday that that climate financing will be taken up after the approval of Extended Fund Facility by the International Monetary Fund (IMF) Executive Board.

According to reports, the finance minister said this while addressing the “Climate Action of Pakistan” seminar on Tuesday.

The minister said that climate financing will be discussed with the IMF and the World Bank during the annual meeting in October. Pakistan is included in the list of countries affected by climate change. He said that Pakistan’s population has increased significantly which of course is worrisome.

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The minister said that Pakistan has to make effective plans for climate change financing from the IMF and the World Bank. He said that in order to improve the country’s economic situation, tax measures, energy sector reforms and quality of life have to be improved.

The Ministry of Finance and the Ministry of Climate Change are working together with the IMF and the World Bank. According to the finance minister, the private sector has to play its role to improve the country’s economy.

Copyright Business Recorder, 2024