THE newly elected government of Prime Minister Shehbaz Sharif has a rare window of opportunity to exercise leadership by aligning national climate action with the ongoing economic reform agenda. The prescribed macroeconomic stability and sustained economic growth cannot be fully achieved without stopping the economic bleeding caused by climate-triggered loss and damage. For this, the prime minister will need to shift into high gear and move his famous ‘Shehbaz speed’ from project management to spearheading structural reforms.

It is not the time for him to undertake the development of additional policy documents, but to understand what the existing policies and commitments can deliver, as well as the barriers to their implementation that the government can remove. The prime minister needs to repeatedly ask all his cabinet colleagues, and everyone he shakes hands with, why policies so very often fail to get implemented or deliver the intended benefits. How best can we make good on the commitments made to our lenders and other development partners?

After the Stand-by Arrangement ends next month, Pakistan is expected to enter into another agreement with the IMF. The anticipated Extended Fund Facility will provide a policy anchor for addressing domestic and external imbalances by pursuing structural reforms. It is also expected that the EFF will help create much-needed space for social and development spending, covering the energy sector, SOE governance, and climate resilience. All three are a drain on the economy but the last one is the most expensive ticket item and it has the least clarity of purpose in policy circles. Without following a clear roadmap for building resilience, the new government will........

© Dawn