Pakistan Urges Global Aid After $30 Billion Climate Disaster Blow

News Desk 

Islamabad: Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, highlighted the devastating impact of recent climate disasters on Pakistan’s economy, resulting in losses amounting to $30 billion. 

The minister emphasized the ongoing struggle to recover and rebuild the economy, particularly in the severely affected provinces of Balochistan and Khyber-Pakhtunkhwa, according to a press release issued on Thursday.

Chairing a meeting with a delegation from the United Nations Environment Program (UNEP), the minister focused on the Carbon Market. 

The meeting, attended by senior officials including the Member Climate Change Ministry of Planning, underscored Pakistan’s urgent need for substantial investment to enhance climate resilience and mitigate future challenges.

“Our domestic resources are insufficient for these necessary investments,” the minister asserted, “therefore, we are actively seeking opportunities to leverage economic growth and attract investments. Finalizing our Carbon Policies responsibly will enable effective collaboration with development partners to channelize investments into Pakistan.”

Despite Pakistan’s minimal contribution to global carbon emissions, the minister emphasized, the country faces severe repercussions such as floods, erratic rainfall, and extreme temperatures.

He stressed the international community’s responsibility to assist nations like Pakistan, which suffer from climate-induced disasters despite their negligible role in causing them.

“At the Geneva conference in 2022, over 95 percent of commitments were in the form of loans, imposing a heavy burden on us,” he added.

Ahsan Iqbal reiterated Pakistan’s commitment to transitioning from high-carbon to low-carbon solutions and highlighted the ambitious renewable energy plan initiated by Prime Minister Shehbaz Sharif to enhance sustainable energy projects.

“We welcome international support to collaborate on environmental improvement and disaster risk reduction,” the minister concluded.

This meeting underscores Pakistan’s proactive stance on climate change, highlighting its efforts to seek international collaboration for sustainable development and disaster resilience.