The country is seriously threatened by climate change. Suicidal to ignore the threat thus action needs to be taken. UAE decision to make significant investments admirable.

(November-29-2023)

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Wednesday that discussing climate change is no longer a fashion but has become a real threat. 

Ignoring this danger would be tantamount to suicide; thus, efforts should be made to manage resources to deal with the problem, he said. 

Talking to the business community, the veteran business leader said that Pakistan is among the ten countries in the world that are most affected by climate change. 

Millions have been affected, while more than 1700 precious lives have been exposed to the devastating rains caused by climate change. Yet, unfortunately, no comprehensive plan has been put in place to deal with this menace permanently.

The business leader said we must work independently because the international community is doing nothing except making promises. 

Mian Zahid Hussain further said that the IMF has also realized this weakness and advised the government to make progress in this regard, give importance to this sector in the budget, and pave the way for investments. 

He informed that the IMF wants to create a better database for these matters, allocate funds in the budget, and ensure transparency. 

He said that the current government should speed up the work in this regard so that the incoming government can get a complete plan to implement to secure the country’s future. All political parties and other stakeholders should be consulted to move forward better. 

Mian Zahid Hussain further said that the United Arab Emirates’ decision to invest 20 to 25 billion dollars in Pakistan is welcome, positively impacting the country’s economy while increasing the business community’s confidence. 

The friendly country will invest heavily in various sectors, including energy, port operations, minerals, banking, and food security, which is good news for the economy. 

The condition of the people pressed hard by inflation for many years will also improve. The investment decision was taken after the signs of improvement in Pakistan’s economy, for which credit goes to the political and military leadership, on which even the IMF seems satisfied after many years. 

Mian Zahid Hussain added that the role of the Investment Facilitation Council should be increased by making it more active so that the country’s economy can get back on track and start the journey towards development.