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Pakistan urges developed nations to fulfill $100b commitment for climate finance

09:53 AM | 3 Dec, 2023
Pakistan urges developed nations to fulfill $100b commitment for climate finance

DUBAI – Caretaker Prime Minister Anwaarul Kakar has urged the developed countries to provide sufficient, additional and predictable grant based climate finance to the developing nations to cope with the challenge of climate change.

Addressing the 28th Conference of Parties of the United Nations in Dubai on Saturday, he said the 100 billion dollars commitment for climate finance must be fulfilled and that such finance should not be at the cost of development finance nor add to the already high debt burden of the developing countries.

Anwaarul Haq Kakar asked the developed countries to take the lead in raising global mitigation ambition and then help developing countries do the same. We need to achieve global resilience through delivering an ambitious outcome in the form of a framework for the global goal on adaptation.

He stressed that with clear targets and indicators including regular monitoring of progress, at least half of climate finance must be allocated to adaptation.

The prime minister said climate change is an existential threat for human kind. He said Pakistan suffered super floods last year and this year will be the world’s hottest year in recorded history.

He said Pakistan presented a comprehensive national adaptation plan and has also launched an innovative living Indus initiative that brings together our care for climate and nature.

The prime minister said we led the endeavor last year to craft an agreement on establishing a global loss and damage fund. This year, we worked to activate and adequately finance loss and damage fund and its funding arrangements.

He said it is critical that under the UAE’s leadership, COP28 also activates the means of implementation that is climate finance, technology transfer and capacity building for developing countries based on equity but differentiated responsibilities.

He said climate justice demands that the developing countries be enabled to achieve the sustainable development goals.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
 
26.66
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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