Finance Minister urges global financial safety net to address climate change risks

Minister for Finance Muhammad Aurangzeb has called for a more proactive and responsive global financial safety net to tackle the elevated risks due to climate change. He was speaking during meeting of Middle East and North Africa Ministers and Governors with the Managing Director IMF in Washington. The Minister highlighted geo-economic fragmentation and its impact on Pakistan and underlined the importance of review of surcharges policy and prioritizing resilience and sustainability trust in view of climate vulnerabilities. He thanked the IMF and its partners for their support in helping Pakistan respond to unprecedented challenges. The Minister welcomed the renewed emphasis of IMF on capacity building through regional capacity development centers. He underscored aggressive reforms including broadening the tax net, privatizing the loss making state owned enterprises (SOEs), expanding social safety net and facilitating the private sector. Source: Radio Pakistan