Finance Minister Muhammad Aurangzeb has expressed optimism regarding the ongoing negotiations with the International Monetary Fund (IMF), stating that no major obstacles remain and positive news is expected soon.

Speaking at an event in Lahore on Friday, Aurangzeb addressed both the IMF talks and the challenges posed by climate change.

Regarding the IMF negotiations, the minister confirmed that talks are in their final stages and nearing completion. He highlighted Pakistan’s progress in meeting the IMF’s economic targets, suggesting a successful conclusion is imminent. He emphasized that the government is actively working to secure a deal.

Aurangzeb also discussed the significant threat of climate change to Pakistan, citing the rapid melting of glaciers and the economic disruption caused by Lahore’s frequent smog. He noted that low rainfall during the winter is a serious concern. He further revealed that while $10 billion in aid was pledged for flood recovery projects, Pakistan’s inability to develop viable projects hindered the utilization of these funds.

He stressed the need for workable climate financing projects and assured that the Ministry of Finance is committed to addressing climate change. He also mentioned positive progress in the country’s partnership with the World Bank, emphasizing the need to improve capacity building alongside financing.