'Illicit financial flows devastating developing countries'

ISLAMABAD: Foreign Minister (FM) Shah Mahmood Qureshi has called for immediate national and international action to curb illicit money flows from the developing world to financial safe haven destinations.

This he said while addressing the 7th International Seminar of the OIC Independent Permanent Human Rights Commission on “Combating Corruption – A Pre-Requisite for the full realization of All Human Rights and Sustainable Development” in Islamabad on Thursday.

FM Shah Mahmood Qureshi said fighting corruption is essential to achieving sustainable development goals as illicit money flows from the developing countries are devastating.

The foreign minister urged the OIC countries to actively explore innovative ideas and initiatives to strengthen the existing international framework to prevent corruption and to end impunity.

He proposed the establishment of a protocol and implementation mechanism for mutual legal assistance within the OIC on issues of corruption and stolen assets.

He stressed the development of a coherent, transparent and inclusive mechanism under the UN auspices for strengthening the international legal framework on monitoring illicit financial flows and return of stolen assets.

He also called for the establishment of a global beneficial ownership registry besides reviewing and revising unequal investment treaties procured through corruption.

Shah Mahmood Qureshi said Prime Minister Imran Khan whilst deriving guidance from Islamic teachings, has given a vision of corruption-free Pakistan. He said Pakistan has taken measures to build and strengthen robust systems for accountability, transparency and integrity.

We are trying to pursue a proactive three-pronged approach to combating corruption, including awareness-raising, prevention, and enforcement. He said we have supplemented existing legislation to induce transparency and openness in the public sector including facilitating citizens’ right to information.

He pointed out that Pakistan’s Citizen Portal app has received international recognition for the effective use of technology for enhancing public delivery.

Due to our sustained efforts, visible positive socio-economic changes are taking place in the country.