AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)

KARACHI: Pakistan is highly vulnerable to climate change; in case resilience to the change is not ensured there will be a significant probability of more frequent and intense events such as droughts, floods, and sea level rise.

This was disclosed by a World Bank high-power delegation led by its Regional Director for Sustainable Development (SD), South Asia, John A. Roome who met Sindh Chief Minister Syed Murad Ali Shah here at CM House. The meeting was attended by provincial ministers, the chief secretary, the chairman P&D, and others.

Through a presentation, the world bank’s regional director for South Asia told the meeting that Pakistan’s recent poverty reduction was fragile due to macro-fiscal vulnerabilities and low and volatile growth.

The report said that the reduced extreme poverty due to off-farm economic and foreign remittances, growth in per capita GDP has been volatile and low. The structural issues, including circular debt, large and unproductive subsidy regimes, and inadequate tax collection add to fiscal stress and constrained investment in human capital, basic infrastructure, and services.

According to the report Pakistan has been a low GHG emitter, but there are opportunities in Pakistan’s own interests to decarbonise the economy. Pakistan contributed less than one percent of total Green House Gases emissions between 1990-2018.

The GHG emissions per capita are low; about one-third of the global average. GHG emissions per GDP are decreasing but at a lower rate than the global average. The GHG emissions are growing fast due to population increases and economic growth, therefore focus may be made to significant decarbonisation options in industry, power, and transport that deliver local co-benefits.

Climate change is already having devastating effects on the country. The unprecedented floods in 2002 brought one-third of the country under water, and caused 1,700 casualties, affecting around 33 million people, therefore Pakistan needs $16 billion to recover.

According to the report, the 2022 floods will likely hamper progress toward the achievement of the Sustainable Development Goals (SDGs) in Pakistan by 2030. Some 8.4 to 9.1 million people would be pushed into poverty, and 6 to 7 million people would fall further behind. Additional 7.6 million people face food security, 17 million women and children are at greater risk of preventable diseases, 4.,3 million people would face job loss or disruption and 640,000 women and girls are at risk of GBV and child marriage.

Post-flood recovery: The post-flood presents a significant opportunity for building long-term and systematic resilience. The report suggests that an inclusive and resilient recovery through a `whole Pakistan approach leads to sustainable development for the people and country. The pillars of the recovery, according to the report, include the restoration of jobs and livelihoods, recovery and reconstruction of critical assets, services, and infrastructure, and strengthening government and stakeholder capacity for reconstruction, especially communities.

Building resilience to these compound risks will require a strong pivot of the economy towards a development pathway that can sustain and strengthen equitable growth and limit the impact of climate change-related physical, transitional, and financial risks.

The chief minister directed his P&D team to study the WB report and recommendations and then frame its own development plan in light of the report so that the province could be steered out of poverty through sustainable development.

Copyright Business Recorder, 2023

Comments

Comments are closed.