ISLAMABAD: Prime Minister Shehbaz Sharif on Friday called for significant reforms in the international financial framework to achieve Sustainable Development Goals (SDGs).
He made these remarks while addressing the first virtual session of the Summit of the Future Global Call at the United Nations in New York.
The Prime Minister emphasized that such reforms require enhanced concessional financing, increased Official Development Assistance (ODA), and greater lending from multilateral development banks.
During the virtual meeting, the Prime Minister presented a plan for economically weaker countries to achieve the SDGs and tackle global challenges. He highlighted that, in the face of unprecedented global crises and escalating conflicts, the collective concept of “We” is at risk of being permanently damaged.
He stressed that a true collective “We” demands equality and justice, pointing to the plight of the people of Gaza as a mockery of this ideal.
Sharif also called for innovative financial solutions to address debt challenges, including climate debt swaps and equitable debt relief mechanisms. He noted that while technological advancements present great opportunities for progress, these technologies must be accessible to all, especially citizens in the Global South.
The Prime Minister further stated that open access to innovations can empower people, but new technologies also require effective safeguards to prevent potential misuse.
He warned that injustices and inequalities create opportunities for malign actors, both locally and globally. Nations dealing with climate vulnerability and high debt, often face terrorism and disinformation as additional threats.
Sharif concluded by stressing that effective international cooperation is more urgent than ever to counter these challenges.
