Pakistan’s finance chief heads to Riyadh to highlight climate funding priorities at global summit

Pakistan's Finance Minister Muhammad Aurangzeb speaks during an interview with AFP at the Embassy of Pakistan in Washington, DC on April 15, 2024. (AFP)
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Updated 10 December 2025
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Pakistan’s finance chief heads to Riyadh to highlight climate funding priorities at global summit

  • Muhammad Aurangzeb will join high-level talks on securing capital for climate adaptation and resilience
  • The visit includes bilateral meetings with senior Saudi officials to deepen bilateral economic cooperation

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb left for Saudi Arabia on Wednesday to attend the Global Development Finance Conference in Riyadh, said an official statement, where he will present Islamabad’s perspective on climate adaptation and financing.

Pakistan is among the world’s most climate-vulnerable countries, grappling with recurrent floods, heatwaves and rising adaptation costs that far exceed its domestic resources.

Last month, while addressing COP30 in Brazil via video link, Aurangzeb urged reforms to global climate-finance mechanisms, arguing the Green Climate Fund was mired in “bureaucracy” and the Loss and Damage Fund had made little progress four years after its launch.

The finance division said the minister had departed for Riyadh to take part in the conference, a three-day gathering focused on new development-finance models.

“During the conference, Finance Minister Senator Muhammad Aurangzeb will participate in a high-level session on climate adaptation and resilience, where he will join global leaders in discussing how developing countries can secure the capital needed to address climate vulnerabilities,” the statement said.

“His participation will highlight Pakistan’s priorities in climate finance and the government’s efforts to strengthen economic resilience in the face of global environmental challenges,” it added.

Aurangzeb is also scheduled to hold bilateral meetings with senior Saudi officials, including leadership of the National Development Fund and the Ministry of Finance, to discuss development financing, investment opportunities and broader economic cooperation.

The statement said he will give interviews to international media outlets such as CNN and CGTN to outline Pakistan’s reform trajectory and development-finance needs.

The finance chief will additionally meet Pakistan’s diplomatic mission in Riyadh to review ongoing economic diplomacy initiatives.

The Global Development Finance Conference, organized under the patronage of Saudi Crown Prince Mohammed bin Salman, aims to bring together more than 100 speakers from over 120 international and regional organizations.

The conference is positioned as a key platform within Vision 2030 to accelerate innovative financing models and support countries seeking sustainable growth amid rising global climate and development pressures.

 


Pakistan military says 12 soldiers killed in border fighting as Kabul calls for dialogue

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Pakistan military says 12 soldiers killed in border fighting as Kabul calls for dialogue

  • Military says 274 Afghan fighters killed, over 400 injured in ongoing operation
  • Afghan authorities earlier said 55 Pakistani soldiers killed in retaliatory strikes

ISLAMABAD: Pakistan’s military said on Friday 12 soldiers had been killed in cross-border fighting with Afghan forces, as it detailed the scale of an ongoing border operation and accused the Kabul government of coordinating with militant groups targeting Pakistan.

The announcement followed days of escalating hostilities triggered by Pakistani airstrikes earlier this week on what Islamabad said were Tehreek-e-Taliban Pakistan (TTP) and Daesh militant camps inside Afghanistan. Since then, both governments have reported retaliatory operations and issued conflicting casualty figures, marking the most serious deterioration in relations between the neighbors in recent months.

The 2,600-kilometer (1,600-mile) shared frontier between the two nations, a key trade and transit corridor, has remained closed to trade and movement since October 2025 amid recurring tensions.

Lt. Gen. Ahmed Sharif Chaudhry, director general of Inter-Services Public Relations (ISPR), told a news conference in Rawalpindi that Pakistani forces had repelled coordinated attacks at 53 locations along the border and responded under what he described as Operation Ghazab lil-Haq.

“While safeguarding Pakistan’s honor and territorial integrity, 12 brave soldiers have embraced martyrdom in the operation so far, while 27 have been injured and one soldier is missing in action,” he said.

Chaudhry said Pakistan had destroyed 274 Taliban posts and positions and more than 400 fighters were injured, describing those figures as conservative estimates. He added that 73 posts were completely destroyed along the border and 18 had been captured.

He said Afghan Taliban forces had launched physical raids “in collusion and in support of an internationally declared terrorist organization” and accused the Taliban administration of acting in coordination with militant groups.

“The Afghan Taliban regime is the master proxy of these terrorist proxies which are operating from Afghanistan,” he said.

Kabul has repeatedly said it does not allow militants to operate in its territory. 

Chaudhry said Pakistan had targeted 22 locations across the border, including in Kabul, Kandahar, Paktia, Nangarhar, Khost and Paktika.

“All targets were selected with great care based on intelligence. They were military objectives, and utmost care was taken to avoid any civilian collateral damage,” he said.

He said the Taliban authorities faced a choice.

“Either they choose terrorists and terrorism or side with Pakistan,” he said.

KABUL CALLS FOR DIALOGUE 

Separately on Friday afternoon, Afghan Taliban spokesperson Zabihullah Mujahid called for talks to resolve the crisis.

“We have always emphasized peaceful resolution, and now too we want the issue to be resolved through dialogue,” he said.

In a detailed statement earlier in the day, Afghanistan’s Ministry of National Defense said it had carried out airstrikes inside Pakistan in response to what it described as Pakistani “aerial incursions” into Kabul, Kandahar and Paktia.

Afghan officials said 55 Pakistani soldiers were killed and that several posts were captured, claims denied by Islamabad.

None of the casualty figures or battlefield claims from either side could be independently verified.

Pakistan’s Information Minister Attaullah Tarar earlier said militants had attempted to launch drones inside Pakistani territory.

“Fitna al khawarij terrorists have attempted to launch small drones in Abbotabad, Swabi and Nowshera. Anti Drone Systems have brought down all the drones. No damage to life,” Tarar said.

“The incidents have again exposed direct linkages between Afghan Taliban Regime and Terrorism in Pakistan.”

Separately, Prime Minister Shehbaz Sharif on Friday visited General Headquarters (GHQ) in Rawalpindi, where he was briefed by the military leadership on the evolving situation. 

According to a statement from the Prime Minister’s Office, Sharif said there would be “zero tolerance” toward what he described as collusion between the Afghan Taliban regime and militant elements.

“Pakistan knows very well how to defend itself against any aggression,” the statement quoted him as saying, adding that the armed forces were ready to safeguard the country.
Regional concern

Cross-border violence has intensified in recent weeks, with Pakistan blaming a surge in suicide bombings and militant attacks on insurgents it says are based in Afghanistan. Kabul denies providing safe havens and says Pakistan’s security challenges are an internal matter.

The latest clashes mark the third major escalation between the neighbors in less than a year. Similar strikes last year triggered weeklong fighting before Qatar, Türkiye and other regional actors mediated a ceasefire in October.

Several countries, including China, Russia, Saudi Arabia and Iran, have expressed concern and urged restraint.

Operations on both sides were ongoing as of Friday evening.