This is reflected in officials elated, content, even grateful, as one of them said, “Pakistan has managed to convince the IMF.” A few weeks back, much speculation was surrounding the threat that the IMF would demand another mini-budget which would wallop the public. We are already so distressed nobody seems to hear our cries and we suffer through it. The situation is unbearable. Electricity bill is a bomb, increasing month to month and now gas bill too, has begun to hurt. Until last year, we had been paying several hundred rupees for gas, but given the fact that electricity used to be something of a killer product, now gas bills have run into thousands and we pay it grudgingly, only to find the next month it is even higher and tighter still around the public. Despite all these hassles, for some reason, the government has managed to assure the IMF that no mini-budget will be introduced for now. Caution is still needed as the future may bring more tougher measures. It’s a respite that no GST on petroleum products for now.
Whether the IMF, World Bank, or other international financial institution, it always seems to be more tolerant with countries that are considered industrialized, while forcing developing countries, mainly Pakistan, to make compromises under colossal pressure. They borrow loans from these countries on very strict terms and then have to pay them back with interest. The way out of this is to give them unconditional, interest-free loans so they can solve their problems. Now, trillions of dollars are required by the world to face the climate challenges. Especially, Pakistan is very severe in terms of climate change. Summer heat has firmly settled in Karachi this year.
The heat started in March and will continue till well into December. Every nook and cranny of the city is being clear-cut of trees, and a sorry sight is the lack of initiatives to plant new ones that could become full-grown trees in years to come. Prime Minister Imran Khan said that Pakistan needs $6.8 trillion to address climate change. The previous week, Pakistan organized the *Climate Finance Roundtable Conference* in Baku, Azerbaijan. Speaking at COP 29, the Prime Minister told the world that we are under severe environmental stressors. He underlined that developing countries would need $6 trillion by 2030 to address climate change.
Developed countries should lead in that respect. The Prime Minister drew attention to the fact that Pakistan had faced back-to-back catastrophic floods during the last two years, and the province was yet to recover from the disastrous aftermaths. It is estimated that the loss in the 2022 floods alone amounts to $30 billion. Several countries promised their support to Pakistan back then and UN Secretary-General even visited the flood-affected areas personally accompanied by the Prime Minister. Millions were marooned by the floods, and during his visit, the Prime Minister called for aid to Pakistan from the International Community. However, reports indicate that the International Community pledged an aid of just $160 million. Furthermore, floods have become a perennial issue in Pakistan because there has been a sudden opening of the gates of Indian dams which becomes an issue every year since 76 years. At present, smog has become a massive issue in the province of Punjab and the region is actually in dire need for rainfall. It is hoped that the prayers recently offered for rain-Istisqa- will bring much needed showers to reduce the choking smog to manageable levels within the province. However, this becomes a dastardly issue compounded with environmental pollution from Indian provinces bordering Punjab and it seems that India hardly considers Pakistan’s plight. India also created hurdles for Pakistan previously by not allowing them to participate in competitions including the ICC Champions Trophy and the T20 World Cup. In this connection, former Prime Minister Nawaz Sharif might genuinely attempt to convey to India that sports, particularly in today’s world, carry a lot of value.