Pakistan’s finmin departs for Hong Kong to take part in Asian Financial Forum

Pakistan Finance Minister Muhammad Aurangzeb speaks during an interview with Reuters at his office in Islamabad on July 19, 2024. (REUTERS/File)
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Updated 12 January 2025
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Pakistan’s finmin departs for Hong Kong to take part in Asian Financial Forum

  • AFF brings together influential leaders from government, finance and business in the region 
  • Muhammad Aurangzeb will also interact with foreign media publications during the tour 

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has left for Hong Kong to take part in the Asian Financial Forum (AFF) 2025 where he is expected to meet top Chinese officials, financial experts and investors, state-run media reported on Sunday. 

The AFF is the region’s premier platform that brings together influential leaders from government, finance, and business communities globally for ground-breaking discussions and exchange of insights on the global economy from an Asian perspective. 

AFF 2024 brought together over 140 elite speakers from around the world and attracted over 3,600 visitors from more than 50 countries and regions, including over 70 overseas and mainland China delegations.

“Finance Minister Muhammad Aurangzeb has departed for Hong Kong to represent Pakistan in the eighteenth Asian Financial Forum,” Radio Pakistan reported. 

“During his visit, he will meet with heads and senior officials of major Asian financial institutions.”

The state media said Aurangzeb will meet Chinese and foreign officials, financial sector experts, professionals, investors and top businessmen during the summit. 

These include the heads of China International Capital Corporation Limited, China New Energy Sky Rail Limited and Asian Infrastructure Investment Bank, it added. 

The Pakistani finance minister will also hold interactions with foreign media, which include speaking to international publications such as Bloomberg, Nikkei Asia and other media representatives.

His visit to Hong Kong takes place as Pakistan attempts to ward off an economic crisis that has drained its resources and triggered a balance of payments headache for the country over the past two years. 

Pakistan has made some economic gains since 2023 by slashing inflation down to single-digit figures from a record high of 38 percent in May 2023 and registering gains in the stock market. 


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

Updated 21 December 2025
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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.