According to a press release, the Food and Agriculture Organization of the United Nations (FAO) and Italian NGO CESVI have signed a partnership agreement to officially launch the RAFAA (Resilience & Adaptation by Fostering Anticipatory Action) project in Sindh. The initiative is funded by the Italian Agency for Development Cooperation (AICS). The €4 million project […]
According to sources, this initiative is a key condition of the International Monetary Fund’s (IMF) new $1.3 billion Climate Resilience loan program, spanning 28 months. Pakistan aims to raise Rs30 billion through the PSX to address funding challenges for eco-friendly projects, including the issuance of Rs30 billion in Sukuk bonds for three hydropower projects, sources […]
During the meeting, the IMF board is expected to approve a disbursement of $1.1 billion for Pakistan under the ongoing financial program. According to the IMF statement, the first Review under the Extended Arrangement under the Extended Fund Facility, the request for modification of performance criteria, and the request for an arrangement under the Resilience […]
Musadik Masood Malik said that the Green Climate Fund is being established on the directions of the Prime Minister to take forward the initiatives aimed at dealing with the challenge of climate change. Addressing a news conference in Islamabad, he said the main features of the fund are currently being worked out. Musadik Masood Malik […]
An IMF delegation arrived in Pakistan on Monday to discuss climate financing with the authorities. The lender’s team objected to the proposed sales tax relief on electric vehicles and rejected the relief offered in the country’s electric vehicle policy, sources said. The IMF team also opposed sales tax concession in local sales of the parts […]
As per details, discussions will focus on green budgeting, climate spending tagging, tracking, and reporting. For the upcoming fiscal year 2025-26, the government is considering imposing a carbon levy, with initial proposals set to be discussed in the next round of negotiations. The IMF delegation is expected to provide recommendations regarding the levy. The talks, […]
The inauguration ceremony was hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI). The event was attended by Fatou Harerimana, the High Commissioner of Rwanda, Azerbaijan’s Ambassador, Khazar Farhadov, and Dr. Bushra Mirza, Vice Chancellor of Fatima Jinnah Women’s University. In his welcome address, President RCCI Usman Shaukat underscored the importance of sustainable development, […]
He was addressing in a private university in Lahore on Monday. Justice Mansoor Ali Shah pointed out that Pakistan ranks as the 8th most vulnerable country to climate change, highlighting the severity of the issue. “Courts have consistently taken climate emergency cases seriously, from addressing industrial closures in the 1990s to discussing various environmental factors.” […]
According to details, the funds will be used to establish stable aviation fuel reserves in the country. A private aviation fuel storage facility is planned to be set up in Sheikhupura, Punjab. The loan falls under the climate support framework aimed at financing infrastructure projects. The initiative is expected to reduce carbon emissions in the […]
Vanuatu, one of the small island states that spearheaded the effort to get the International Court of Justice to give a so-called advisory opinion, will be the first of over a hundred states and international organizations to give their views in two weeks of proceedings starting at 10 a.m. (0900 GMT). While the court’s advisory […]
