PM to address UN summit on Financing for Development today

ISLAMABAD: Prime Minister Imran Khan will address the Financing for Development summit on Tuesday on the sidelines of the UN General Assembly Session.

This high-level event will be held virtually and is convened by the UN Secretary-General and the Prime Ministers of Canada and Jamaica.

The summit aims to articulate a coordinated and comprehensive multilateral response to the urgent financing for development crisis due to the COVID-19 pandemic.

Heads of State and Government are expected to adopt an ambitious menu of policy options for countries to recover in the short term, mobilize the financial resources to achieve the 2030 Agenda and its 17 Sustainable Development Goals.

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On Thursday,  PM Imran while addressing a high-level panel on Financial Accountability, Transparency, and Integrity (FACTI) on the sidelines of the ongoing United Nations General Assembly session and called for formulating laws to bring back this money to the developing countries.

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While urging the international community to act jointly against money-laundering, the prime minister said that laws should be devised to bring an end to tax evasion from multi-national companies.

He further warned that international peace could also be endangered by rising global poverty. “Unjust distribution of money globally is the basic problem,” he said and added that currently, most of the global wealth is accumulated in the hands of 26 richest people.