Next budget must adapt to climate change demands, IMF tells Pakistan

As Pakistan seeks continuous and extended international support at the global climate conference (COP28) in Dubai this week, the International Monetary Fund (IMF) has told the government that the budget for FY2024-25 should practically be a turning point for the planning mechanism and investment portfolios based on climate adaptation. “There is a need to be transparent on climate-related actions that have budgetary implications to support policy making and climate financing,” said the IMF as part of technical advice to the government before it starts next year’s budget preparations to garner international support and attract climate-related financing. A high-level delegation led by caretaker Prime Minister Anwaarul Haq Kakar is attending the Conference of Parties (COP28) beginning November 30. “Pakistan is all set to plead its case in COP28,” said the Ministry of Planning and Development on Sunday.