ISLAMABAD: Prime Minister Imran Khan on Friday said that a collective action by countries regarding expanding coronavirus vaccine’s supply and keeping economies open is necessary to gain recovery from post-Covid health and economic crises.
“To ensure rapid recovery, we in Asia and elsewhere must keep economies open, revive disrupted supply chains, and resist protectionist temptations,” the prime minister said in his virtual address at the Nikkei 26th international conference on ‘Shaping the Post-Covid Era: Asia’s Role in Global Recovery’.
The prime minister said that the pandemic, unless fully contained, could create social chaos and threaten peace and security in Asia and elsewhere in the world. “Unfortunately, no one will be safe until everyone is safe. The coronavirus vaccine’s supply and distribution must be immediately expanded with patent rights waived and production ramped up,” he said.
PM Imran mentioned that coronavirus has created the worst global health, economic and social crisis and said it is essential to provide low-income countries fiscal space and liquidity to respond to the impact of the pandemic, revive economic growth and preserve social stability.
He recalled his earlier proposal of a five-point agenda for debt relief, which was SDR creation and re-allocation, larger concessional finance, fulfilment of climate finance commitments, and an end to illicit financial flows from developing countries.
He welcomed the extension of the G-20’s debt suspension initiative, the agreement to create $650 billion in new SDRs, and the expansion of IDA funding and emergency support programmes for the multilateral development banks.
The recommendations of the FACTI Panel on illicit financial flows must also be implemented, he added.
The prime minister said that if Asian and other countries are to achieve the Sustainable Development Goals by 2030 and net-zero carbon emissions by 2050, they needed to invest massively in new and sustainable infrastructure – energy, transportation, housing, agriculture and industry.
He stressed that less-developed countries must be helped to prepare a pipeline of sustainable infrastructure projects.
To attract private investment, he said, such projects would need to be “de-risked” through blended finance and investment guarantees and incentives.
PM Imran emphasised on mobilising science and technology to accelerate sustainable growth through targeted research on innovations and applications required to advance sustainable development and environmental goals.
He said that rapid digitalisation of economies is essential to ensure dynamic growth and mentioned the digital divide between advanced economies where 87 percent of people are online compared with only 19 percent having internet access in the poorest countries.
He suggested expanded investment in digital hardware and software to bridge the gap of technology. About linking dynamic economic growth in Asia with greater physical connectivity, he said, China’s Belt and Road Initiative provided an important pathway to such regional integration across the Asia-Pacific region and beyond.
He welcomed proposals from Japan and others to support and finance quality infrastructure in Asia and elsewhere.
The prime minister said that the China-Pakistan Economic Corridor, a flagship project of the Belt and Road Initiative, has generated economic activity and employment besides enhancing bilateral and regional trade.
He said that Pakistan looked towards serving as a geo-economic hub connecting the economies of Central Asia, South Asia, West Asia and beyond. However, he pointed that this potential could not be fully unleashed until the countries did not resolve their outstanding conflicts and disputes.
On Afghanistan, PM Imran said that as the foreign forces are withdrawing from the country, it is imperative to redouble efforts to promote peace process between the Afghan parties.
“Pakistan hopes that the violence will be sharply reduced and the Afghan parties will engage constructively to secure an inclusive, broad-based and comprehensive political settlement,” he added.
The prime minister said that Pakistan desires peaceful and cooperative relations with all its neighbours, including India. But, he said, India must stop the human rights violations in occupied Jammu and Kashmir and revisit the unilateral measures it took on 5 August 2019.
He highlighted that it is essential that an enabling environment is created for dialogue to peacefully resolve the Jammu and Kashmir dispute in accordance with the UNSC resolutions and the wishes of the people of Kashmir.
PM Imran said that the situation in Palestine remains a matter of deep concern for everyone and urged the international community to take urgent actions to stop the Israeli attacks against Palestinians, prevent the desecration of holy places, especially Al-Aqsa Mosque, and facilitate a just and lasting solution in line with the relevant UN resolutions.
