NEWYORK: Pakistan Defence Minister Khawaja Asif said that no sustainable development can take place till tragedies like Gaza are perpetuated by the developed world.
Issuing statement at the summit of the future at UN general assembly, defence minister said that adoption of the “Pact for the Future” is an expression of our collective determination to respond to the global challenges of security and development that threaten the present and future generations.
He said that for the over 100 developing countries, the Pact offers an opportunity to revitalise development and to reform the unequal international financial and economic system.
He said that the pact will be transformative only if we translate the commitments undertaken into concrete action.
To bridge the $4 trillion SDG financing gap, defence minister said that we must fulfil the longstanding ODA commitments; implement the Secretary General’s SDG Stimulus proposal; rechannel 50% of the unused 2021 allocation of SDRs; deliver a bigger, better and more ambitious IDA by ensuring a robust $100 billion replenishment in December this year.
Defence minister also emphasize to enlarge lending by the multilateral development banks and lower borrowing costs for developing countries.
He called for improving the representation of developing countries in international financial institutions; review the sovereign debt architecture to make it more equitable; adopt an equitable international tax regime; and reform the WTO to serve as a vehicle for export expansion and development, through preferential treatment for developing countries and avoidance of new environmental protectionism.
Khawaja Asif said that the UN, by virtue of its universal membership and mandate, remains an indispensable platform to propel and monitor implementation of these commitments.
He said that bridging the digital divide is key for an equitable future. “Pakistan welcomes the outcomes of the Global Digital Compact in this regard. We must bridge the North-South divide and prevent an East-West fragmentation of the digital space. We must ensure equitable data governance. And, we must capture and control the power of Artificial Intelligence,” he added.
