At sideline engagements at UNGA, Pakistani PM makes case for investments, improved business climate

In this handout photo, taken and released by Prime Minister Office, Pakistan's Caretaker Prime Minister Anwar-ul-Haq Kakar chairs a meeting with a Chinese delegation headed by Vice President Han Zheng on the sidelines of the 78th UNGA Summit in New York on September 21, 2023. (Photo courtesy: PMO)
Short Url
Updated 22 September 2023
Follow

At sideline engagements at UNGA, Pakistani PM makes case for investments, improved business climate

  • The premier expresses desire to revitalize US relations, attract American investment while addressing a think tank
  • Kakar invites investment in Pakistan’s mining sector, says government trying to create business-friendly environment

ISLAMABAD: A top Chinese official said on Thursday Pakistan occupied a unique place in Beijing’s neighborhood diplomacy, adding his country would support the core interests of the South Asian state and work for its economic prosperity.

The reiteration of China’s commitment to Pakistan’s development and diplomacy was made in a conversation that took place between Chinese Vice President Han Zheng and Prime Minister Anwaar-ul-Haq Kakar on the sidelines of the 78th United Nations General Assembly session in New York.

The two leaders exchanged views on a wide range of issues, including a multibillion-dollar joint economic corridor project bilateral economic and financial cooperation.

The Pakistani prime minister acknowledged his country’s strategic partnership with China, thanking the government in Beijing for its unflinching support to Pakistan’s territorial integrity, sovereignty and socio-economic development.

“In his remarks, Vice President Han said that Pakistan-China friendship is unique and has withstood the vicissitude of time due to deep fraternal ties between the peoples of two nations,” said a statement released by Kakar’s office after the meeting.

“He added that as a close neighbor and iron-brother, Pakistan occupies a special position in China’s neighborhood diplomacy and that China would continue its efforts for safeguarding Pakistan’s core interests and for the economic development and prosperity of the people of Pakistan,” it continued.

Both leaders expressed satisfaction at the steady development of the China-Pakistan Economic Corridor (CPEC) projects and agreed to further enhance their cooperation on multilateral forums.

REVITALIZING US RELATIONSHIP

Later, the prime minister addressed an American think tank, Council on Foreign Relations, highlighting that his country’s partnership with Washington spanned over decades while expressing his desire to further “revitalize” it.

He maintained that his country wanted to pursue its own interests and did not want to indulge in bloc politics.

Kakar also said the US-Pakistan relation had witnessed “brisk momentum,” adding its broad-based nature made it difficult for anyone to view it “through the lens of another country.”




In this handout photo, taken and released by the Prime Minister's Office, Pakistan Caretaker Prime Minister Anwar-ul-Haq Kakar (left) gestures during a session of Council of Foreign Relations on the sidelines of the 78th UNGA Summit in New York on September 21, 2023. (Photo courtesy: PMO)

“The United States is our largest export destination,” he continued. “Over the past year, Pakistan’s total exports to the US reached an impressive $8.4 billion. We need to work on US investment in Pakistan. As caretaker prime minister, I am making a priority to improve Pakistan’s business climate and attract US capital and expertise.”

The prime minister noted that over 80 US enterprises were already operating in Pakistan, contributing to the mutual prosperity of the two countries.

“This constitutes a good infrastructure for investment on which we build further investment partnership,” he added.

MINING SECTOR INVESTMENT

Earlier in the day, the prime minister met Jakob Stausholm, the chief executive officer of a leading global mining conglomerate Rio Tinto Group, asking him to consider investing in his country’s mineral sector.

Kakar highlighted Pakistan’s vast untapped mineral reserves which, he said, valued over $6 trillion of gold, copper, and rare earth metals.

He also mentioned the newly established Special Investment Facilitation Council in Pakistan, saying it was providing a single-window platform to foreign investors.

“He emphasized the significance of the mining sector as a priority for FDI [foreign direct investment], leveraging Pakistan’s abundant natural resources,” said a statement circulated by the PM Office.




In this handout photo, taken and released by the Prime Minister's Office, Pakistan Caretaker Prime Minister Anwar-ul-Haq Kakar (left) gestures during a meeting with Rio Tinto Group head, Jakob Stausholm, on the sidelines of the 78th UNGA Summit in New York on September 21, 2023. (Photo courtesy: PMO)

 


Pakistan, UK sign £35 million Green Compact to strengthen climate resilience

Updated 21 December 2025
Follow

Pakistan, UK sign £35 million Green Compact to strengthen climate resilience

  • Pakistan ranks among nations most vulnerable to climate change and has seen erratic changes in its weather patterns
  • UK will help Pakistan mobilize climate finance, strengthen regulatory frameworks and develop bankable climate projects

ISLAMABAD: Pakistan and the United Kingdom (UK) have formalized a comprehensive climate partnership with the launch of a Green Compact that aims to enhance climate resilience, accelerate clean energy transition and scale up nature-based solutions, including mangrove conservation, Pakistani state media reported on Sunday.

The agreement, signed in Islamabad by Federal Minister for Climate Change and Environmental Coordination Dr. Musadik Malik and UK Minister for International Development Jennifer Chapman, unlocks £35 million in targeted support for green development and long-term climate action, according to Radio Pakistan broadcaster.

Pakistan ranks among nations most vulnerable to climate change and has seen erratic changes in its weather patterns that have led to frequent heatwaves, untimely rains, storms, cyclones, floods and droughts in recent years. In 2022, monsoon floods killed over 1,700 people, displaced another 33 million and caused over $30 billion losses, while another 1,037 people were killed in floods this year.

Mohammad Saleem Shaikh, a spokesperson for Pakistan’s Ministry of Climate Change, described the compact as a “decisive move toward action-oriented climate cooperation,” noting that its implementation over the next decade will be critical for Pakistan which regularly faces floods, heatwaves and water stress.

“The Compact is structured around five core pillars: climate finance and investment, clean energy transition, nature-based solutions, innovation and youth empowerment, and adaptation and resilience,” the report read.

“Under the agreement, the UK will work with Pakistan to mobilize public and private climate finance, strengthen regulatory frameworks for green investment, and develop bankable climate projects.”

Clean energy forms a central component of Pakistan’s transition, with Islamabad planning to expand solar and wind generation to reduce fossil fuel dependence, improve energy security and stabilize power costs, according to Shaikh.

“Renewable energy is now economically competitive, making the transition both environmentally and financially viable,” he was quoted as saying.

“Nature-based solutions, particularly large-scale mangrove restoration, will protect coastal communities from storm surges and erosion while enhancing biodiversity and carbon sequestration.”

Under the Compact, technical support, mentoring and access to investors will be provided to climate-smart startups and young innovators, reflecting Pakistan’s recognition of youth-led initiatives as central to future climate solutions.

On the occasion, Chapman, on her first official visit to Pakistan, underscored the urgency of climate action, highlighting the UK’s support for renewable energy, mangrove and ecosystem restoration, early-warning systems, climate budgeting and international investment flows into Pakistan.

Shaikh described the Green Compact as “a strategic turning point” in Pakistan–UK relations on climate change, saying its effective implementation is essential for Pakistan to meet its national climate targets.