KARACHI: “Pakistan is highly vulnerable to worsening climate change, building resilience is key to avoiding poverty increases, otherwise there is significant probability of more frequent and intense events such as droughts, floods and sea level rise.” World Bank high-power delegation led by Regional Director for Sustainable Development (SD), South Asia John A. Roome met with Sindh Chief Minister Syed Murad Ali Shah here.

Meeting was attended by provincial ministers, Chief Secretary, Chairman P&D and others. Through presentation, World Bank’s regional director told meeting about report that Pakistan’s recent poverty reduction was fragile due to macro-fiscal vulnerabilities and low and volatile growth.

It said that reduced extreme poverty due to off-farm economic and foreign remittances, growth in per capita GDP has been volatile and low. Structural issues, including circular debt, large and unproductive subsidy regimes and inadequate tax collection adds to fiscal stress and constrained investment in human capital, basic infrastructure and services. According to report Pakistan has been low GHG emitter but there are opportunities in Pakistan’s own interests to decarbonise economy. Pakistan contributed less than one per cent of total Green House Gases emissions in between 1990-2018.

According to report, 2022 floods will likely hamper progress toward achievement of Sustainable Development Goals (SDGs) in Pakistan by 2030. Some 8.4 to 9.1 million people would be pushed into poverty and 6 to 7 million people would fall further behind.  Additional 7.6 million people face food security, 17 million women and children are at greater risk of preventable diseases, 4.3 million people would face job loss or disruption and 640,000 women and girls are at risk of GBV and child marriage.

Pillars of recovery according to report include restoration of jobs and livelihoods, recovery and reconstruction of critical assets, services and infrastructure and strengthening government and stakeholder capacity for reconstruction especially communities. CM directed his P&D team to study WB report and recommendations and then frame its own development plan in light of report so that province could be steered out of poverty through sustainable development.

Published in The Daily National Courier, March, 14 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.