KARACHI-Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain has said that climate change has become serious threat to country. 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 on Wednesday, he said that Pakistan was among the ten countries in the world that were most affected by climate change.
Mian Zahid Hussain said that millions have been affected, while more than 1,700 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, he added.
He said we must work independently because the international community was doing nothing except making promises.
The business leader further said that the IMF has also realised 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 incumbent 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 was 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 was good news for the economy, he maintained. The business leader said that 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.