COP27 summit: Pakistan revises budget estimates due to flood relief, rehabilitation

ISLAMABAD/SHARM EL SHEIKH – Pakistan has revised its budget estimates due to relief and rehabilitation of the flood affected people, Prime Minister Shehbaz Sharif said on Monday.

During the meeting with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieve on the sidelines of COP-27 Summit, the prime minister said that saving people's lives and rehabilitation of the flood affected masses was the first priority of government.

He hoped that the COP-27 Climate Conference would prove a mile-stone in getting climate justice.

The prime minister said after the COVID-19 pandemic and global recession, the flood situation had also put negative impact on Pakistan's economic recovery pace.

Pakistan valued the IMF cooperation, he further said while hoping that Pakistan would complete the current IMF program.

In a separate meeting with President of the European Council Charles Michel in Egyptian city of Sharm El Sheikh, the Pakistani premier stressed that it was a must to form a coalition of all the countries to deal with the disastrous impacts of climate change as the world had done to overcome the scourge of terrorism.

He thanked the EU president for extending cooperation for Pakistan's exclusion from the Financial Action Task Force (FATF)'s grey list.

Charles Michel expressed grief over the loss of life caused by the floods across Pakistan and also appreciated the EU's support for the relief of flood-stricken people.