In this year’s budget, Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, allocated Rs. 4 billion to promote electric bikes (e-bikes) and Rs. 2 billion for energy-saving fans.
However, the success of this e-bike promotion remains to be seen. This is because the last time the government announced an e-bike scheme, half of the bikes involved were regular motorcycles due to a lack of e-bikes in Pakistan.
In any case, these initiatives aim to reduce carbon emissions from transportation and lower overall energy consumption. The Minister also highlighted Pakistan’s vulnerability to climate change and the government’s commitment to finding solutions through climate mitigation efforts.
Senator Aurangzeb emphasized the government’s leading role in tackling climate change. He highlighted the establishment of the Pakistan Climate Change Authority, a new agency dedicated to implementing plans that both reduce the impact of climate change and help Pakistan adjust to its effects.
Additionally, Senator Aurangzeb mentioned the development of a National Climate Finance Strategy, expected to be finalized by October 2024. This strategy will outline ways to secure international funding for climate initiatives in Pakistan. The funds will then be used for projects that aim to lower carbon emissions in the country.
The Finance Minister said:
Gender and climate budget tagging has been done in government’s budgeting and accounting system that would help in policy making and implementation in these sectors.
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