Pakistan Stock Exchange (PSX) Chair¬person Dr Shamshad Akhtar has said the country’s “extreme dependence” on fossil fuels to achieve gro¬wth has ruined the environment at a high economic cost.

Speaking at a seminar on the role of business in protecting the environment organised jointly by the Pakistan Institute of Corporate Governance (PICG), Overseas Investors Chamber of Commerce and Indus¬try (OICCI) and Unilever Pakistan Ltd, Dr Akhtar said the economic bill of climate change is so huge that accounting for it would double the country’s annual external financing requirements of around $29 billion.