Daily Times

Caretaker Minister for Finance, Revenue, & Economic Affairs, Dr. Shamshad Akhtar highlighted on Thursday that Pakistan adopted an ambitious Nationally Determined Contributions (NDC) plan to cut greenhouse gas (GHG) emissions by 50%. The minister was virtually addressing virtually the United Nations Conference on Trade and Development (UNCTAD) conference titled “Development Finance for 2030 Agenda: Environmentally Safe Industrialization,” held in Geneva.

The minister said that State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) have also issued guidelines for the adoption of Green Industry practices. Dr Akhtar stressed on global action to accelerate investment in sustainable development goals while tackling debt distress in developing economies. Meanwhile, Minister for Finance, Revenue, & Economic Affairs Dr Shamshad Akhtar has called for reforms in global financial institutions to address the needs of developing countries, especially those most impacted by climate events. She was addressing the UNESCAP Committee on Macroeconomic Policy, Poverty Reduction, and Financing for Development in Bangkok, a press release here said on Tuesday. Dr Shamshad urged the multilateral development banks (MDBs) to suspend debt servicing for the countries impacted by climate change events, and the International Monetary Fund to restore the enhanced access limits established during the pandemic.