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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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1 month ago

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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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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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5 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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5 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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5 days ago

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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