World Leaders Summit Dialogue: One trillion dollars being shifted to safe havens every year, says PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan Tuesday called for prioritising vaccine equity, debt relief, climate finance and return of stolen wealth to developing countries as part of global economic recovery from the devastating effects of COVID-19 pandemic.

He observed this at the World Leaders Summit Dialogue, organised on the occasion of 15th Quadrennial Meeting of United Nations Conference on Trade and Development (UNCTAD), organised by the UNCTAD during its on-going 15th Quadrennial Meeting, hosted by Barbados.

Expressing concerns over vaccine inequity, the prime minister called for a more equitable distribution. Recalling his campaign for debt relief, the prime minister advocated for debt relief until the end of the pandemic.

The prime minister reaffirmed the urgent need for mobilisation of and contribution by richer countries to climate finance in view of the vulnerability and existential challenges faced by Small Island Developing Countries (SIDS) and other developing countries, including Pakistan.

Reiterating his deep concern over the huge challenge of illicit flow of money – an annual amount of one trillion dollars – from developing countries to richer capitals and tax havens, the prime minister underscored the imperative of halting these outflows.

The prime minister once again emphasised implementation of UN Secretary General’s FACTI Panel recommendations, enabling developing countries to more meaningfully alleviate poverty and human development. The prime minister was invited to the Leaders Dialogue along with Presidents of Kenya, and Guyana, Secretary General UNCTAD and heads of other UN agencies, under the theme of “Building a more prosperous development path: Matching the scale of the moment”.

The Quadrennial Conference, hosted virtually by Barbados from 4-7 October 2021, is taking place in the backdrop of unprecedented economic, public health and social effects, induced and exacerbated by COVID-19 pandemic.

Meanwhile, Defence Minister Pervez Khattak called on PM Imran Khan here and both discussed the political situation in the country. Separately, Finance Minister Shaukat Fayyaz Tarin met Prime Minister Imran Khan. Issues related to the establishment of Asset Management Authority were discussed during the meeting.

The prime minister directed to take effective measures to ensure productive use of valuable national assets. He also directed to focus on the development of tourism sector in the country by making full use of Pakistan's valuable historical and cultural assets.

Furthermore, the prime minister directed to make the Board of Investment (BOI) effective so as to ensure ease of doing business in the country for the socio-economic development of the people. The premier was also briefed on the current economic situation in the country. The prime minister directed to take effective measures to provide maximum relief to the common man in the country.

Meanwhile, PM Imran said low cost housing projects are among the government's top priorities while the government is taking steps to make it easier to provide loans.

In this context, Chairman New Pakistan Housing Authority (PHA) Lieutenant General (R) Anwar Ali Haider called on the prime minister. The meeting discussed the ongoing low cost housing projects under the authority.

The meeting was told that under Kamyab Pakistan Programme, it will be easier to get loans from banks. The prime minister directed to ensure timely completion of ongoing projects.