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Finance Minister Senator Muhammad Aurangzeb admitted that there was a serious trust deficit among international donors, remarks that come as Pakistan awaits realisation of pledges made to help it recover from the devastating floods of 2022.

Addressing the Climate Action for Pakistan organised by Acumen Pakistan on Tuesday, Aurangzeb said that during the discussions in Geneva, in the backdrop of the devastating floods in 2022, pledges to the tune of $9 billion were made.

“This shows that there is no lack of funds as people understand the emergency here … but by and large we could not have those pledges materialise into actual funding.

“The reason for that is we needed to come up with credible projects, projects which could be monitored, and on the basis of that the whole discussion was going to go forward.

“And the reality is people don’t trust the government, and I am in the government, so therefore it is the private sector which has to lead the country in all aspects,” he said.

Aurangzeb said the government needed to ensure ownership and accountability of those funds.

Pakistan seeks disbursements on pledged flood-relief funds

Donors from around the world stepped up after Pakistan was hammered by floods in 2022 and pledged funding to the tune of nearly $11 billion at the ‘International Conference on Climate Resilient Pakistan’ last year in January, which amounts to more than half of what Islamabad estimated it needed to rebound from the disaster.

Among the donors were the Islamic Development Bank with $4.2 billion, the World Bank with $2 billion, Saudi Arabia with $1 billion, as well as the European Union and China. France and the United States also made contributions.

However, up to April 2024 Pakistan had received only $2.8 billion out of $10.987 billion pledges made.

The floods, which scientists said were aggravated by global warming, affected at least 33 million people and killed more than 1,700 from the beginning of the monsoon season in mid-June 2022 until mid-November that year.

Comments

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Arshad Aug 06, 2024 04:21pm
Its not ONLY the people of Pakistan, other Nations also DON'T TRUST YOU.......
thumb_up Recommended (6)
Aamir Aug 06, 2024 04:56pm
This man will also make a joke of himself. HBL was a much better institute to work for. Here the job is begging for funds on behalf of the masters who run Pakistan for their own vested interests
thumb_up Recommended (5)
Ali Aug 06, 2024 05:05pm
Wow - Pakistan's own Sherlock!
thumb_up Recommended (1)
Pakistani Aug 06, 2024 06:14pm
Finally a Minister admits of Trust deficit by domestic and international audience. What actions is the government taking to address this issue? Action plan and actual actions of government will help!
thumb_up Recommended (6)
Pakistani Aug 06, 2024 06:27pm
Trust deficit arises out of uncontrolled and unaccountable expenses of the government, corruption and absence of visible benefit for the people. Will the Minister take action to control the above?
thumb_up Recommended (5)