By month’s end, the IMF Board will accept the staff-level agreement: Aurangzeb

During a keynote speech at a recent ceremony, he declared that the agreement reached with the International Monetary Fund (IMF) at the staff level is anticipated to get approval from the IMF Executive Board by the conclusion of this month. After obtaining this approval, the topic of climate change will be addressed.

Aurangzeb stated that climate financing will be addressed once the deal is approved by the IMF Executive Board. He stated that these deliberations will occur with the IMF and the World Bank during the annual conference in October.

“Pakistan is among the countries impacted by climate change,” he stressed, highlighting the importance of tackling environmental concerns in addition to managing population growth.

Aurangzeb emphasised the formidable obstacle presented by Pakistan’s burgeoning population, characterising it as a “population bomb” that has already detonated. He emphasised the necessity of implementing efficient strategies to alleviate the consequences of both population expansion and climate change.

the World”Pakistan needs to develop robust strategies for securing climate change funding from the IMF and World Bank,” he stated.

The finance minister identified numerous crucial sectors that necessitate enhancement to strengthen the country’s economic status, including the budget, tax policies, energy industry, and quality of life. He stressed that the ministries of finance and climate change, along with the IMF and the World Bank, are working closely together to improve the oversight of climate change initiatives.

Aurangzeb emphasised the need for enhanced monitoring of climate change programmes in partnership with the IMF and World Bank. He advocated for the formulation of significant climate change measures to mitigate its negative impacts and emphasised the crucial contribution of the private sector in enhancing Pakistan’s economy.

Aurangzeb emphasised the government’s dedication to developing efficient climate change funding strategies, including assistance from the IMF and World Bank. He implored all parties involved to contribute to the collective endeavour to tackle these urgent challenges.