When climate shocks hit the poorest, what happens to the programmes meant to lift them out of poverty? In this episode, Dr. Nasir and Dr. Adeel explore the National Poverty Graduation Programme (NPGP) - a flagship initiative aimed at moving households beyond short-term cash transfers toward sustainable livelihoods through asset transfers and skills. Drawing on his fieldwork in South Punjab, Dr. Nasir shares how beneficiaries coped during high inflation, why the 2022 floods turned assets like livestock into liabilities and what all this means for building resilience. This timely conversation offers lessons for policymakers in Pakistan and beyond on designing poverty programmes that can withstand an era of rising climate vulnerability.