‘Climate change poses threat to economy’

LAHORE : Chairman UK-Pakistan Joint Business Council Mian Kashif Ashfaq Wednesday said climate change had posed a great threat to Pakistan’s economy and agriculture sector, with devastating consequences witnessed in the aftermath of recent floods.

Speaking as a guest of honour at a seminar on “Challenges of Climate Change” here, he said these floods wreaked havoc, washing away vital infrastructure and causing colossal losses to agriculture which was a cornerstone of Pakistan’s economy.

He said Pakistan’s vulnerability to climate change was exacerbated by its geographical location and reliance on agriculture, which employs a large portion of the population and contributes significantly to the GDP.

Extreme weather events, like floods, droughts, and heatwaves, are becoming more frequent and intense due to climate change, amplifying the challenges faced by the agriculture sector.

He stressed the urgent need for adopting concerted efforts at the national and international levels.

Investment in climate-resilient infrastructure, such as flood defenses and water management systems, is essential to mitigate the risks posed by extreme weather events.

Furthermore, promoting sustainable agricultural practices and diversifying the economy can enhance resilience to climate change while fostering long-term economic growth.

Mian Kashif said the last floods inundated agricultural lands, destroying crops and livestock, and disrupting supply chains.

Farmers, already grappling with poverty and lack of resources, suffered immense financial losses, exacerbating rural poverty and food insecurity.

The destruction of infrastructure, including roads, bridges, and irrigation systems, further hampered agricultural productivity and economic growth, he concluded.