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Deputy Prime Minister Speaks at COP-29 Summit: Pakistan Needs $348 Billion to Become Climate Resilient by 2030

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According to Muhammad Ishaq Dar, the deputy prime minister and foreign minister, the current international finance system is biased against climate-responsive investment in developing nations.

Pakistan, according to Dar, continues to rank in the top ten nations most affected by climate change. The catastrophic floods of 2022 caused losses and damages of more over USD 30 billion, and they reduced Pakistan’s GDP by 4%. It took USD 348 billion for Pakistan to become climate resilient by 2030.

Dar stated Pakistan’s continued commitment to working with the international community to address climate change.

“We allocate 20% of our annual public sector program to climate-responsive public investments, which include climate-smart agriculture, renewable energy, and integrated flood response,” he added. The goal of Pakistan’s national climate finance plan is to use climate finance to meet our demands for adaptation as well as mitigation,” he added.

Dar praised the forum’s dedication to establishing innovative climate finance tools that will unlock accessible, affordable, and available climate funding for developing nations.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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