SUMMARY of the article “Implementing Fiscal Strategy,” by Ali Tauqeer Sheikh, published on November 16, 2023

The federal government in Pakistan has taken a significant step by introducing the National Climate Finance Strategy (NCFS), addressing a long-overlooked aspect of national policymaking. This strategy aims to integrate climate change considerations into policymaking, raising ambitions for climate resilience. Aligned with the ongoing Stand-by Arrangement with the IMF, one of the objectives is to reduce economic costs associated with climate disasters. The World Bank and IMF have emphasized the importance of aligning national investments with Climate-Public Investment Management Assessment (C-PIMA) to ensure future climate and development financing. To achieve this, the government plans to present C-PMIA to the cabinet, signaling a commitment to climate-resilient investments. The implementation involves key institutions like the Special Investment Facilitation Council, Public Sector Development Plans, and Public Private Partnership Authority. A Sustainable Finance Bureau is expected to reorient a portion of the new PSDP schemes during FY 2023-24. The NCFS is » Read More…