ISLAMABAD: Pakistan has unveiled its first-ever National Climate Finance Strategy (NCFS), aimed at mobilizing financial resources for climate mitigation and adaptation, Radio Pakistan reported on Friday. 
The strategy was launched by Federal Minister for Finance, Muhammad Aurangzeb, and the Prime Minister’s Coordinator on Climate Change, Romina Khurshid Alam, at the Pakistan Pavilion in Baku on the sidelines of the two-week UN-led global climate conference (COP29).
“[Strategy] outlines a comprehensive framework to scale up climate-related investments, attract international funding, and strengthen domestic financial systems,” Radio Pakistan reported.
“The strategy provides a roadmap for Pakistan to systematically access climate finance from a variety of domestic and international sources, reinforcing the country’s commitment to the Paris Agreement and its climate resilience goals.”
Speaking on the occasion, Aurangzeb said the strategy would enable Pakistan to leverage international, domestic, and private finance to support climate resilience efforts.
The strategy prioritizes sectoral resilience and the development of climate-smart policies across key sectors such as agriculture, infrastructure, and urban planning, the finance minister said, adding that NCFS identified key financial instruments and channels for climate action, aiming to close the estimated $348 billion climate finance gap facing the country by 2030.
The NCFS also incorporates a new National Climate Finance Portal that will track climate finance inflows and outflows, ensuring transparency and accountability.
Pakistani Prime Minister Shehbaz Sharif, who spoke at a number of events at COP29 earlier this week, used the forum to highlight the need to restore confidence in the pledging process and increase climate finance for vulnerable, developing countries.
The main task for nearly 200 countries at the COP29 summit from Nov. 11-22 is to broker a deal that ensures up to trillions of dollars in financing for climate projects worldwide. 
Pakistan is ranked the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, devastating floods killed over 1,700 people and affected over 33 million, with economic losses exceeding $30 billion. International donors pledged over $9 billion last January to aid Pakistan’s flood recovery but officials say little of the promised funds have been received so far.
Speaking on the sidelines of the World Leaders’ Climate Action Summit on Tuesday, Sharif said developing countries would need an estimated $6.8 trillion by 2030 to implement less than half of their current nationally determined contributions (NDCs), or national action plans for reducing emissions and adapting to climate impacts defined by the Paris Agreement.
Most of the world’s climate-friendly spending so far has been skewed toward major economies such as China and the United States. Africa’s 54 countries received just 2 percent of global renewable energy investments over the last two decades.

QUETTA: A train service between the southwestern city of Quetta and Peshawar in Pakistan’s northwest resumed on Friday after being shut for four days following a deadly bombing at a railway station.
At least 24 people were killed and more than 40 injured in a bomb blast on Saturday at a railway station in the city of Quetta in the province of Balochistan, which is grappling with a surge in strikes by separatist ethnic militants that has raised security concerns for projects aiming to develop the province’s untapped mineral resources.
Imran Hayat, Divisional Superintendent of Pakistan Railways Quetta Division, said train operations from Balochistan to the rest of the country had been restored, with the Quetta-Peshawar bound Jaffar Express departing from Quetta Railway Station on Friday morning amid tight security at the railway station.
“We had suspended our service for four days following the threat of attacks on the train service in Balochistan,” Hayat told Arab News. 
“Today, the Quetta-Peshawar bound Jaffar Express departed from Quetta Railway Station at 9am and we have resumed service for Karachi and Chaman amid stringent security measures across the railway station.” 
The Baloch Liberation Army (BLA), a separatist militant group, claimed responsibility for Saturday’s attack.
The BLA seeks independence for Balochistan, a province of about 15 million people that borders Afghanistan to the north and Iran to the west. The BLA is the biggest of several ethnic insurgent groups battling the government, saying it unfairly exploits the province’s rich gas and mineral resources. The government denies this. 
In August, over 50 people were killed in Balochistan after separatist militants attacked police stations, railway lines and highways.
The assaults in August were the most widespread in years by militants fighting a decades-long insurgency to win secession for the province, home to major China-led projects such as a port and a gold and copper mine.