Islamabad: Pakistan has agreed to a key condition from the International Monetary Fund (IMF). The country will give more importance to climate change when selecting development projects. This change will take effect by August 2026. Climate change factors will make up 30% of the selection criteria for these projects.
Reports from Jang and The News indicate that Pakistan has accepted all IMF conditions related to climate change. This includes the implementation of a carbon tax. These steps show a commitment to sustainable development.
Additionally, the report states that Pakistan will create a transparent system for project selection. This system aims to enhance accountability and effectiveness.
Moreover, Pakistan has agreed to list projects worth over 7.5 billion rupees on the PC-1 website. The country will also monitor government grants and subsidies closely. This oversight is in line with the IMF’s requirements.