Pakistan Progresses on IMF Conditions for Climate Financing

Pakistan is making steady progress in meeting IMF conditions related to climate financing, officials say.

Sources from the Ministry of Finance are optimistic about the successful completion of the first review of the climate financing program with the IMF. They confirm there are no obstacles in achieving this milestone.

To address climate change, Pakistan has introduced new procedures for the climate budget, which will now clearly identify all related expenses.

The climate budget tagging has been expanded to cover subsidies and grants, a key requirement set by the IMF.

Currently, Pakistan is collecting a climate support levy of about 2.5 rupees per liter on petrol and diesel.

An IMF delegation, led by the mission chief, is currently in Pakistan negotiating the second review of a $7 billion loan program alongside the first review of the climate financing plan.