Pakistan’s climate change to hit GDP: WB report

LAHORE: The Country Climate and Development Report by the World Bank predicted that Pakistan will start losing any where “between” 6.5% to 9% of its GDP by 2050 because of climate change.

“Alarmingly, Pakistan is currently losing around 6% of its GDP due to inefficient urban transport,” said Tauqeer Ahmed Rana, an expert in the area of Road Safety, quoting from the above report.

He added that efficient urban transport planning will enhance urbanization-driven economic gains and improve impaired mobility.

The World Bank report on Pakistan stated that the country will need $368 billion by 2030 for climate mitigation and adaptation if it were to avoid floods, droughts, and heat waves.

“But the harsh reality is that despite committing billions of dollars, whatever meagre funds received so far are mostly in the form of loans rather than grants, further exacerbating the economic and financial woes of the developing and the underdeveloped,” said Tauqeer.