The consequences of climate change directly affect Pakistan's economy, Zafar ul Hassan, Joint Chief Economist for Macroeconomics section at the Planning Commission of Pakistan, at the 3rd Economic Cooperation Organization Think Tank Forum themed "New Generation Economy: Challenges and Prospects" held in Baku on Friday, Report informs.
According to ul Hassan, agriculture accounts for a quarter of Pakistan's economy: "Therefore, the consequences of climate change directly affect the country's economy. In addition, as a result of climate change, the frequency of natural disasters in Pakistan has increased. This has left the country in a very vulnerable situation."
He noted that, on the other hand, Pakistan's National Adaptation Plan adopted last year contributes to taking steps towards a "green economy": "But Pakistan is very dependent on fossil fuels, and we are trying to gain access to the financial resources of the Global Climate Fund."