PM Kakar to lead Pakistan delegation in ‘high-level’ COP28 talks in Dubai today

Pakistan Prime Minister Anwaar-ul-Haq Kakar, center, with UAE's President Mohamed bin Zayed Al Nahyan, right, and United Nations' Secretary General Antonio Guterres at Dubai Expo City on December 1, 2023. (Photo courtesy: Prime Minister's Office)
Short Url
Updated 01 December 2023
Follow

PM Kakar to lead Pakistan delegation in ‘high-level’ COP28 talks in Dubai today

  • The conference clinched an early win Thursday, with delegates adopting fund to help poor nations fight climate disasters
  • Pakistan PM Anwaar-ul-Haq Kakar is expected to build on this momentum for further contributions by wealthy governments

ISLAMABAD: Prime Minister Anwaar-ul-Haq Kakar is leading the Pakistan delegation at a "high-level" segment of the United Nations (UN) Climate Change Conference, or COP28, in Dubai today, on Friday, his office said, following the operationalization of $575 million for a global fund for climate-related “loss and damage” at the summit. 

The UN climate summit clinched an early victory Thursday, with delegates adopting the new fund to help poor nations cope with costly climate disasters. In establishing the fund on the first day of the COP28 conference, delegates opened the door for governments to announce contributions. 

And several did, kicking off a series of small pledges that countries hoped would build throughout the conference to a substantial sum, including $100 million from the COP28 host United Arab Emirates, at least $51 million from Britain, $17.5 million from the United States, and $10 million from Japan. Later, the European Union pledged $245.39 million, which included $100 million pledged by Germany. 

The momentous occasion followed Pakistan's crucial role at COP27 in Egypt, where, as the chair of the G77 and China group, it advocated for the establishment of the fund. PM Kakar, who leads his country's delegation at Friday's talks, is expected to build on this momentum for further contributions by wealthy governments to address challenges faced by climate-vulnerable nations. 

"Caretaker Prime Minister Anwaar-ul-Haq Kakar will lead the Pakistani delegation in the high-level segment of the 28th Conference of Parties (COP 28) held at the United Nations Expo City in Dubai starting tomorrow," Kakar's office said on Friday. 

It said the Pakistan prime minister was scheduled to attend the World Climate Action Summit on December 1-2, where he would deliver a "national statement" on the final day of the summit. 

On the sidelines of COP28, PM Kakar is also expected to meet world leaders and discuss with them the adverse impacts of climate change faced by his country and other developing nations. 

Thursday's early breakthrough on the damage fund, which poorer nations had demanded for years, could help grease the wheels for other compromises to be made during the summit. 

Another task for the conference will be the global stocktake, an assessment of countries' progress in meeting the Paris Agreement goal of limiting global warming to well below 2°Celsius (3.6°Fahrenheit). 


IMF hails Pakistan privatization drive, calls PIA sale a ‘milestone’

Updated 10 January 2026
Follow

IMF hails Pakistan privatization drive, calls PIA sale a ‘milestone’

  • Fund backs sale of national airline as key step in divesting loss-making state firms
  • IMF has long urged Islamabad to reduce fiscal burden posed by state-owned entities

KARACHI: The International Monetary Fund (IMF) on Saturday welcomed Pakistan’s privatization efforts, describing the sale of the country’s national airline to a private consortium last month as a milestone that could help advance the divestment of loss-making state-owned enterprises (SOEs).

The comments follow the government’s sale of a 75 percent stake in Pakistan International Airlines (PIA) to a consortium led by the Arif Habib Group for Rs 135 billion ($486 million) after several rounds of bidding in a competitive process, marking Islamabad’s second attempt to privatize the carrier after a failed effort a year earlier.

Between the two privatization attempts, PIA resumed flight operations to several international destinations after aviation authorities in the European Union and Britain lifted restrictions nearly five years after the airline was grounded following a deadly Airbus A320 crash in Karachi in 2020 that killed 97 people.

“We welcome the authorities’ privatization efforts and the completion of the PIA privatization process, which was a commitment under the EFF,” Mahir Binici, the IMF’s resident representative in Pakistan, said in response to an Arab News query, referring to the $7 billion Extended Fund Facility.

“This privatization represents a milestone within the authorities’ reform agenda, aimed at decreasing governmental involvement in commercial sectors and attracting investments to promote economic growth in Pakistan,” he added.

The IMF has long urged Islamabad to reduce the fiscal burden posed by loss-making state firms, which have weighed public finances for years and required repeated government bailouts. Beyond PIA, the government has signaled plans to restructure or sell stakes in additional SOEs as part of broader reforms under the IMF program.

Privatization also remains politically sensitive in Pakistan, with critics warning of job losses and concerns over national assets, while supporters argue private sector management could improve efficiency and service delivery in chronically underperforming entities.

Pakistan’s Cabinet Committee on State-Owned Enterprises said on Friday that SOEs recorded a net loss of Rs 122.9 billion ($442 million) in the 2024–25 fiscal year, compared with a net loss of Rs 30.6 billion ($110 million) in the previous year.