ISLAMABAD: Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday called for the fulfillment of an overdue $100 billion climate finance pledge by wealthy countries and the “urgent launch” of the Loss and Damage Fund meant for countries most vulnerable to climate catastrophes, the foreign office spokesperson said in a statement.
Flood-battered Pakistan pushed for the establishment of the Loss and Damage Fund during a global climate conference at the Egyptian resort town of Sharm El-Sheikh in November last year. Pakistan led a group of 134 African, Asian and Latin American states and small island nations to present a united stand to push for the initiative, which would ensure wealthy countries pay for the billions in damage that vulnerable countries suffer due to climate change. Details on how the fund will operate and how it will source money will be worked out by a committee in the coming year.
Pakistan took the initiative after unusually heavy rains and melting glaciers triggered flash floods across the country in June 2022. The catastrophe killed over 1,700 people and swept away large swathes of land, destroyed hundreds of houses and damaged critical infrastructure across the country. Pakistan estimated the total damage from the floods to be over $30 billion.
Pakistan’s Foreign Office Spokesperson Mumtaz Zahra Baloch said during the SDG Summit Leaders Dialogue in New York on Thursday, Kakar highlighted the challenges that developing countries face in attaining sustainable development goals.
“He called for climate justice, including the fulfilment of the pledge for over $100 billion annually in climate finance, allocation of half of this amount to climate adaptation and the urgent launch of the Fund for “Loss and Damage,” Baloch said.
The climate pledge was made in 2009 by wealthy countries to transfer $100 billion per year from 2020 to vulnerable states hit by increasingly severe climate change impacts. Failure to meet the pledge by rich nations has fueled mistrust in climate negotiations between countries as they attempt to boost carbon dioxide cutting measures.
Kakar, who is in New York to attend the 78th annual session of the United Nations General Assembly (UNGA) said at the SDG Summit Leaders Dialogue that only 12 percent of the UN’s sustainable development goal targets were met due to economic turmoil caused by the COVID-19 pandemic, climate-induced catastrophes, and conflicts raging in different parts of the world.
“This has been further exacerbated by a morally bankrupt international financial architecture,” he was quoted as saying by the Prime Minister’s Office (PMO).
Kakar is scheduled to address the UNGA on Friday, Sept. 22 which would make him Pakistan’s first caretaker premier to address the session. During his address, the prime minister will elaborate on measures being taken by the government to consolidate Pakistan’s economic recovery and efforts to mobilize domestic and external investments, Pakistani state media reported.
Kakar will also meet world leaders on the sidelines of the UNGA meetings.
Pakistan’s PM calls for $100 billion climate pledge fulfilment, launch of loss and damage fund
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Pakistan’s PM calls for $100 billion climate pledge fulfilment, launch of loss and damage fund
- Pakistan pushed for the establishment of the Loss and Damage Fund during COP-27 in Egypt last year
- Flash floods in June 2022 killed over 1,700 people in Pakistan, damaged critical infrastructure worth billions
Uzbekistan president to arrive in Pakistan today to strengthen trade, energy cooperation
- Uzbek President Shavkat Mirziyoyev to lead high-level delegation of ministers, business leaders on Feb. 5-6 visit, says Pakistan foreign office
- Visit takes place days after Pakistan, Uzbekistan reaffirmed $2 billion trade target during intergovernmental commission meeting
ISLAMABAD: Uzbekistan President Shavkat Mirziyoyev will arrive in Pakistan today, Thursday, with a high-level delegation to identify new avenues for bilateral cooperation in trade, defense, energy and other avenues, Pakistan's foreign ministry said.
The visit takes place after the 10th session of the Pakistan–Uzbekistan Intergovernmental Commission (IGC) on Trade, Economic and Scientific-Technical Cooperation in Islamabad on Feb. 2. Both sides reaffirmed their $2 billion trade target and areed to push for regional connectivity, develop trade routes and accelerate cooperation in several sectors.
Mirziyoyev will lead a high-level delegation comprising senior ministers and business leaders on a two-day state visit, Pakistan's foreign ministry said.
"Discussions will focus on reviewing the entire gamut of bilateral relations and identifying new avenues to further deepen cooperation in diverse sectors including trade, energy, defense, education, people-to-people exchange and regional connectivity," the statement said.
The Uzbek leader's visit takes place two days after Kazakhstan President Kassym-Jomart Tokayev arrived in Islamabad to hold talks on trade, business and connectivity.
Pakistan and Kazakhstan signed 37 memoranda of understanding (MoUs) and set a target of raising bilateral trade to $1 billion within a year during Tokayev's visit.
Pakistan and Uzbekistan have steadily increased economic ties in recent years as Islamabad seeks greater access to landlocked Central Asian markets, aiming to position itself as a regional transit and trade hub linking South Asia with Central Asia.
Pakistan was the first Central Asian partner with which Uzbekistan signed a bilateral Transit Trade Agreement, along with a Preferential Trade Agreement in March 2022, covering 17 items, which became operational in 2023.
Pakistan's finance ministry said last month that Azerbaijan's state energy company SOCAR was set to finalize an investment in the country’s oil and gas sector following high-level engagements at the World Economic Forum in Davos.
