Finance Minister Muhammad Aurangzeb has warned that rapid population growth and climate change are the two biggest obstacles preventing Pakistan from becoming a $3 trillion economy. Speaking on Geo News’ program Capital Talk, he stressed that these challenges are no longer theoretical but real issues affecting the country every day.
Aurangzeb said the effects of climate change are evident through worsening smog in Lahore and the destructive floods that have hit Pakistan in recent years. He added that the frequency of extreme weather events continues to rise, causing significant damage to lives, infrastructure, and agriculture.
Pakistan, home to over 251 million people, faces one of the fastest population growth rates in the world at 2.55 percent, according to the World Bank. Nearly 45 percent of the population lives below the poverty line. The minister said unchecked growth puts immense pressure on resources, adding that population and climate challenges together could derail economic progress.
Comparing Pakistan’s struggle for resilience to how Jaguar overcame tough global competition through innovation and adaptability, Aurangzeb emphasized that the country must take bold steps to ensure sustainable development. He said Climate Change Minister Musadik Malik has been directed by Prime Minister Shehbaz Sharif to prepare a comprehensive 300-day action plan.
The recent floods, which caused 80 percent of the damage in Punjab, have particularly hurt the agriculture sector, including key rice and cotton-producing areas. Aurangzeb revealed that Pakistan’s growth target of 4.2 percent may drop by up to 0.5 percent due to the devastation.
Meanwhile, former finance minister Miftah Ismail said that while economic stability has been achieved, Pakistan needs major reforms to ensure real growth. He pointed out that without restructuring and incentives for investors, the economy will remain stagnant.
Like Jaguar’s strategic recovery in the global market, Pakistan must embrace reform, innovation, and resilience to achieve long-term economic stability.
In other news read more about: Pakistan Braces for Increased Floods, Extreme Weather Events Amid Climate Change Impact
