Islamabad (Web Desk): Prime Minister Shehbaz Sharif has called for significant reforms of the international financial framework for achieving the sustainable developmental goals (SDGs).
He was addressing the first virtual session of the Summit of the Future Global Call at the United Nations (UN) in New York.
PM Shehbaz said this requires enhanced concessional financing, increased Official Development Assistance, and greater lending from multilateral development banks.
In the virtual meeting, the prime minister presented a plan to the world leaders for economically weak countries to achieve the Sustainable Development Goals and to fight the global challenges.
“Today, in times of unprecedented global challenges and escalating conflicts, we are at risk of permanently damaging the notion of “We”,” the premier said.
He said that a collective “We” requires a degree of equality and justice. He said the plight of the people of Gaza is a mockery of this “We”.
PM Shehbaz stressed the need for innovative financial solutions to address debt challenges, including climate debt swaps and equitable debt relief mechanisms.
“While technological advancements offer great opportunities for progress, it is vital that these technologies are accessible to all, particularly the citizens in the global south,” the PM said.
PM Shehbaz asserted that open access to innovations can empower our people and at the same time, new technologies require new and effective safeguards to prevent the world from their possible misuse.
“Injustices and inequalities create avenues for malign actors, both locally and globally, particularly in nations grappling with climate vulnerability and high debt, which also face terrorism and disinformation,” the prime minister said.
PM Shehbaz said that effective international cooperation is more urgent today than ever before to counter these harms.