PM Shehbaz Sharif stresses strengthening climate financing at WGS

Prime Minister Shehbaz Sharif on Tuesday called on the international community to boost climate financing and enhance technology sharing to attract private investment in Pakistan’s untapped green energy and infrastructure sectors.

Speaking at the World Governments Summit (WGS) 2025 in Dubai, the prime minister urged global institutions to support developing nations like Pakistan in achieving sustainable economic growth.

He emphasized that while Pakistan is fully committed to mobilizing domestic resources and implementing policy reforms, international collaboration and financial assistance remain essential.

He highlighted the global shift towards a green economy as a shared responsibility, stating that Pakistan alone requires a $100 billion investment for its energy transition.

Despite facing significant challenges, PM Shehbaz underscored the government’s efforts to stabilize the economy over the past year.

He noted that Pakistan is at a pivotal moment of economic transformation, with inflation dropping to 2.4% in January—the lowest in nine years—and interest rates maintained at 12%.

He praised Pakistan’s resilience over the past seven decades, emphasizing its commitment to overcoming challenges through determination and global cooperation.

Discussing Pakistan’s renewable energy potential, he stated that the country is rapidly expanding its solar, wind, and nuclear energy sectors.

He pointed out that Pakistan’s southern region has 50,000 MW of untapped wind energy, while hydro projects in the north will contribute an additional 30,000 MW of clean energy.

To accelerate solar energy adoption, the government has introduced policy reforms, tax exemptions, investment incentives, net metering, and waived customs duties on solar panels and related equipment.

Highlighting Pakistan’s investment potential, PM Shehbaz stated that the country offers one of Asia’s most dynamic investment landscapes.

With 70% of its population under the age of 30, Pakistan has a young, tech-savvy workforce and a strategic location bridging South and Central Asia, making it an attractive hub for economic growth.

In the agricultural sector, he stressed efforts to improve water efficiency through drip irrigation, modern farming techniques, drought-resistant crops, and increased water storage to preserve depleting water reservoirs.

The government is also incentivizing agri-innovation by promoting solar-powered farming, climate-smart sensors, and sustainable practices to modernize agriculture while reducing environmental impact.

As part of this initiative, 1,000 young Pakistani agriculture graduates are being sent to China for training in advanced agricultural techniques.

While pursuing economic growth, PM Shehbaz highlighted the government’s focus on uplifting communities, ensuring equitable opportunities, and building a prosperous future.

He declared that Pakistan stands at the threshold of a new era, prioritizing infrastructure development, economic diversification, and human progress.

“The future is not something we inherit passively—it is something we actively shape,” he stated. “Let this summit mark the beginning of global peace and a sustainable, prosperous future for all.”

Addressing the ongoing crisis in Gaza, the prime minister acknowledged that the summit was taking place at a time when the region is still reeling from the devastating conflict, which claimed over 50,000 Palestinian lives.

He expressed hope that the humanitarian crisis would be followed by lasting peace.

Reaffirming Pakistan’s stance, he stressed that a durable solution is only possible through a two-state resolution in line with UN directives, calling for the establishment of an independent Palestinian state with pre-1967 borders and Al-Quds as its capital.

PM Shehbaz also commended the UAE leadership for hosting the summit, praising Dubai as a city where “the future meets the present,” recognizing its role as a global hub for commerce, technology, and economic innovation.