PM: Climate disasters cost Pakistan $130bn, urges global support at FII9

Prime Minister Shehbaz Sharif told a roundtable at the Future Investment Initiative (FII9) in Riyadh that climate-driven disasters have inflicted an estimated $130 billion in economic losses on Pakistan. Despite contributing a fraction of one percent to global emissions, he said, the country ranks among those most exposed to extreme weather impacts.

Sharif recalled the 2022 floods, which submerged vast areas, damaged crops and infrastructure, and forced Pakistan to rely on borrowing for reconstruction. He argued that debt-driven rebuilding is not a durable solution and called for global burden-sharing alongside technology transfer to help vulnerable nations adapt and grow.

The premier said his government is pursuing deep reforms, citing the full digitalization of the Federal Board of Revenue and a renewed push against corruption. With roughly 60% of the population under 30, he described Pakistan’s youth as both a challenge and an opportunity that can power faster growth with the right investment.

Sharif also addressed the rapid adoption of artificial intelligence, urging dialogue between the global north and south to maximize benefits while managing risks. He pledged to connect Pakistan’s natural resources and human capital to turn the country into one of the region’s fastest-growing economies.