PM Sharif initiates tree plantation campaign, highlights Pakistan as fifth most climate-vulnerable country

Pakistan Prime Minister Shehbaz Sharif plants a sappling to launch the spring tree plantation campaign in Islamabad, Pakistan, on March 15, 2024. (PID)
Short Url
Updated 15 March 2024
Follow

PM Sharif initiates tree plantation campaign, highlights Pakistan as fifth most climate-vulnerable country

  • PM says forests only constitute five percent of Pakistan’s total area, urging everyone to participate in the drive
  • Pakistan will plant 543.8 million trees during the ongoing campaign, an increase from the 490 million in 2023

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday said Pakistan was the fifth most vulnerable country to climate change, as he launched the spring tree plantation campaign and urged the nation to actively participate in the initiative to mitigate environmental threats.

Pakistan periodically launches such campaigns to combat deforestation and preserve biodiversity, involving government agencies, private organizations and local communities.

Initiating the drive by planting a tree, the prime minister emphasized his administration’s goal to double this year’s tree plantation numbers compared to the targets set by the previous government.

“Forests constitute only five percent of the country’s total area,” his office quoted him in a statement. “According to the Global Climate Risk Index Report, Pakistan is the fifth most affected country by climate threats.”

The PM Office provided statistics indicating that between 1999 and 2018, Pakistan lost 10,000 lives to climate change impacts like droughts, heatwaves, torrential rains and flash floods.

These erratic weather patterns also inflicted billions of dollars in losses on the economy during the same period, exacerbating Pakistan’s already distressed economic conditions.

The prime minister advocated for nationwide participation in the tree plantation campaign to safeguard against climate threats and promote a healthy environment, thereby protecting Pakistan from all forms of environmental pollution and threats.

The government aims to plant a total of 543.8 million trees during the current campaign, an increase from the 490 million trees planted in the 2023 monsoon season.

The campaign’s targets are 141 million trees in Punjab, 117.2 million in Sindh, 57.1 million in Khyber Pakhtunkhwa, 30 million in Balochistan, 118.5 million in Azad Jammu and Kashmir and 8 million trees in Gilgit Baltistan.


Pakistan signals commitment to regulate digital assets in meeting with Binance leadership

Updated 6 sec ago
Follow

Pakistan signals commitment to regulate digital assets in meeting with Binance leadership

  • Binance delegation led by CEO Richard Teng meets Pakistan’s prime minister, army chief in Islamabad
  • Pakistan has attempted to tap into growing crypto market to curb illicit transactions, improve oversight

ISLAMABAD: Pakistan’s government has signaled its “strong commitment” to digital asset regulation as the country’s senior officials met the leadership of Binance, one of the world’s most prominent global cryptocurrency exchanges, the Prime Minister’s Office (PMO) said on Saturday. 

The Binance team, led by its Chief Executive Officer Richard Teng, is in Pakistan and has held meetings with Finance Minister Muhammad Aurangzeb, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib and senior Pakistani bank officials this week. 

Pakistan has been attempting to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight and encouraging innovation in blockchain-based financial services.

“Binance senior leadership visits Pakistan as government signals strong commitment to digital asset regulation,” the PMO said. 

A Binance delegation led by Teng met Chief of Army Staff and Chief of Defense Forces Field Marshal Syed Asim Munir in Islamabad. 

Saqib also attended the meeting and gave the Binance team a briefing about his organization.

Pakistan has attempted in recent months to tap into the country’s growing crypto market, a move analysts say could bring an estimated $25 billion in virtual assets into the tax net.

In September, Islamabad invited international crypto exchanges and other VASPs to apply for licenses to operate in the country, a step aimed at formalizing and regulating its fast-growing digital market.