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IUST holds high-level dialogue on fiscal diversification

 The four-day international conference on ‘Nature-Based Solutions (NBS) for Enhanced Climate Resilience and Livelihoods in Himalayas,’ organised by Islamic University of Science and Technology (IUST), concluded with a High-Level Policy Dialogue on ‘Leveraging Nature-based Solutions for Fiscal Diversification and Resilience in J&K at Amar Singh Club, Srinagar.

The concluding dialogue brought together representatives from the government, academia, industry, business sector, civil society, including PEC, and other key stakeholders to deliberate on mainstreaming NBS into policy, planning, financing and development practice.

The dialogue was framed around the interconnected challenges of climate risk, fiscal pressure and youth unemployment, and explored how investments in natural systems can simultaneously reduce disaster risks and future public expenditure, strengthen key economic sectors, and generate new employment and enterprise opportunities.

In his opening remarks, Prof. Shakil A Romshoo, Vice Chancellor, IUST, emphasised the need to place nature-based solutions at the centre of inclusive and climate-resilient development.

Prof. V. K. Gaur, Emeritus Scientist, CSIR–Fourth Paradigm Institute, Special Guest, spoke on nature-inspired approaches to environmental management, underscoring the importance of learning from natural systems while addressing emerging environmental and developmental challenges. The programme formally included Prof. Romshoo’s opening remarks and Prof. Gaur’s special address.

Babila Rakwal, Commissioner/Secretary to the Government, Science & Technology Department, along with the Deputy Secretary, Disaster Management Department, J&K, and other senior government officials participated in the deliberations. Government representatives highlighted that several enabling policies and programmes are already in place and stressed the need to systematically incorporate NBS approaches into their implementation.

Participants also drew attention to data limitations, fragmented sectoral planning, and the continuing disconnect between policy formulation and implementation, identifying these as key areas requiring coordinated action.

The dialogue also witnessed participation from the business and financial sectors, including Zuhaib Vaid, Regional Head, J&K and Ladakh, Government Banking, ICICI Bank, and Rakesh Magotra, Chief Compliance Officer, alongside representatives of academia, civil society and other stakeholder ins

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