Aurangzeb says no major hurdle to SLA

ISLAMABAD: Finance Minister Muhammad Aurangzeb has expressed the confidence that Pakistan will soon receive positive news from the International Monetary Fund (IMF), saying that negotiations are in their final stages with no major hurdles in the way.

Speaking to journalists here on Friday on the conclusion of an event organised in connection with the “World Day for Glaciers,” the minister reassured that Pakistan is on track to meet the IMF’s economic discipline targets.

He emphasised that discussions with the global lender are progressing smoothly and that the ongoing talks will conclude soon.

SBP governor upbeat about swift IMF SLA

He said that Pakistan must act on climate change or face economic setbacks.

Aurangzeb underscored the government’s commitment to economic reforms, adding that Pakistan was adhering to the agreed upon financial framework.

He noted that the country remains focused on fiscal responsibility, which would help secure the next tranche of funding.

Finance minister spoke about the growing challenges posed by climate change. He highlighted the rapid melting of glaciers, the economic disruptions caused by fog in Lahore, and the country’s overall vulnerability to environmental shifts.

Aurangzeb stressed the need for a structured climate financing system to combat these threats. He revealed that Pakistan had held positive discussions with the IMF over the past two weeks regarding climate financing and disaster recovery.

He disclosed that international donors have pledged $10 billion for flood rehabilitation projects, but Pakistan has struggled to develop viable implementation plans to fully utilise the assistance. He urged the need for practical and actionable climate projects to secure future funding.

The minister acknowledged that pollution levels are rising and controlling environmental degradation remains a significant challenge. He affirmed that the Finance Ministry would extend full cooperation to the Climate Change Ministry to address these concerns.

Pakistan’s water cycle has been adversely affected, and insufficient winter rainfall signals a growing environmental crisis.

The minister stressed that climate change and population growth are two major threats that the country must tackle urgently.

Aurangzeb also noted progress in Pakistan’s partnership with the World Bank, particularly in financing and capacity building for climate resilience.

He cited the work done by the Everest K2 Research Centre as a positive step in understanding glacial melt patterns and their impact on water resources.

Emphasising the urgency of the matter, the finance minister called for reducing project timelines to counter environmental risks effectively.

He reiterated that failure to address climate challenges would have severe economic consequences for Pakistan.

Copyright Business Recorder, 2025