Pakistan nearing completion of IMF negotiations, says minister

Finance Minister Muhammad Aurangzeb has announced that Pakistan is close to reaching an agreement with the International Monetary Fund (IMF). He is confident that the country will receive positive news soon, as negotiations are in the final stages with no major obstacles. Speaking to reporters in Islamabad, Aurangzeb highlighted that Pakistan is on track to meet the IMF's economic targets. He reassured that the discussions with the IMF are going well and should conclude shortly. The minister also brought attention to the serious challenges posed by climate change. He noted the fast melting of glaciers and the economic issues caused by fog in Lahore. Current conditions show how vulnerable Pakistan is to environmental changes. Aurangzeb emphasized the government's commitment to economic reforms and fiscal responsibility. This approach is vital for securing the next round of funding from the IMF. Regarding climate change, he mentioned that Pakistan has had constructive talks with the IMF about climate financing and disaster recovery. International donors have offered $10 billion to help with flood recovery, but the country needs better plans to use this aid effectively. Pollution levels in Pakistan are rising, and combating environmental degradation is a major challenge. The Finance Ministry plans to work closely with the Climate Change Ministry to manage these issues. The minister pointed out that Pakistan's water cycle is under strain due to insufficient winter rains, which contributes to a growing environmental crisis. He stressed the need to address climate change and population growth urgently. Lastly, Aurangzeb mentioned progress in collaborations with the World Bank on climate resilience and shared positive developments from the Everest K2 Research Centre, which studies glacier melting and its impact on water resources. He called for quicker project timelines to effectively tackle environmental risks, warning that ignoring climate issues could lead to severe economic fallout for Pakistan.