$340bn needed to address environmental challenges: FinMin
Pakistan
75% of revenue spent on loan servicing and interest payments: Dr Shamshad Akhtar
ISLAMABAD (Dunya News) – Caretaker Finance Minister Dr Shamshad Akhtar highlighted the need for $340 billion over the next seven years to address the environmental challenges.
Dr Shamshad Akhtar emphasised the importance of securing international financing for Pakistani companies to support environmental protection.
The National Adaptation Plan has been formulated, and ministries have been instructed to allocate funds for specific environmental projects, she said.
Read more: Pakistan suffering due to environmental pollution of others: UN chief
Pakistan's reliance on costly international loans has delayed this plan, with 75% of revenue being spent on loan servicing and interest payments, she disclosed.
The caretaker finance minister expressed concerns about Pakistan's vulnerability to environmental issues, despite efforts.
Collaborative initiatives with the World Bank and the Asian Development Bank are being done to address environmental challenges in low-income countries.
Dr Shamshad Akhtar reiterated that defaulting on loans is not an option for Pakistan.
