KARACHI: President of the United Business Group (UBG) Zubair Tufail has said that green economy is the need of the hour and there is a dire need to invest in infrastructure projects for green economy in the country.

Measures must be taken to develop the food, water, health and agriculture sectors, and in view of the severe climatic threats facing the country, efforts should also be made to obtain funding from international financial institutions for investment in infrastructure projects resistant to climate change.

According to Central Spokesperson, UBG Gulzar Feroze, President United Business Group said that it is a fact that as a country with a population of about 24 crores, we need to spend 10% of our GDP on infrastructure development on an annual basis and the government should facilitate financial institutions to promote sustainable infrastructure financing.

He said that Governor State Bank Jameel Ahmed agrees that measures to promote a balanced climate for the economy will prove to be a game changer, but if the government plans in this regard in consultation with the private sector, better results can be obtained.

Zubair Tufail said that we need about 5 trillion rupees annually for the financing of the country’s infrastructure, but the current situation of the country’s treasury does not show investment in infrastructure projects, but the government should have integrated planning in this regard.

Copyright Business Recorder, 2023