• Urges rethink of global financial architecture to make it pro-growth
• Asks overseas citizens to expose ‘anti-Pakistan propaganda’
• Meets Chinese premier, German chancellor, Brazilian president
• Decade of CPEC to be celebrated this year
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday urged the international community to deliver on the commitments made at last year’s global climate change conference in Egypt and said the “world should use present economic and climate turbulence as an opportunity for a course correction”.
He also asked overseas Pakistanis to expose “anti-Pakistan propaganda in their respective countries, besides condemning the arson that took place on May 9 in Pakistan”.
“The international community should deliver on the commitments they made at COP27 in Sharm al-Sheikh, including the operationalisation of Loss and Damage Fund on the principle of equity; provision of grants that don’t increase the indebtedness of developing countries; enabling climate-vulnerable countries to access the Fund on the basis of a climate vulnerability index,” the premier tweeted during his visit to Paris to attend the New Global Financing Pact Summit.
He said that as part of his interactions during the summit, he drew world leaders’ attention to the exogenous shocks that created several crises for developing countries like Pakistan.
“These shocks resulted in stalling growth, supply chain disruptions caused commodity prices to soar, leading to back-breaking inflation and then extreme weather events precipitated unprecedented floods that cost Pakistan $30 billion in losses,” he said.
“The inability to bridge the financing gaps to achieve Sustainable Development Goals (SDGs) coupled with the cost of realising climate goals is inflicting a heavy cost on the world, running into trillions of dollars annually,” he added.
He said the world should use present economic and climate turbulence as an opportunity for course correction. The starting point could be rethinking the global financial architecture where international financial institutions design their programmes to be pro-growth and aligned with SDGs and climate justice goals.
“The world faces a moment of truth. Let us all vow to rise to the challenge hand in hand in a spirit of solidarity and compassion,” he added.
Later during an interaction with overseas Pakistanis, the premier urged them to play their role in exposing what he described as anti-Pakistan propaganda, his office said in a statement.
He told the community members that through its tough economic decisions, the incumbent government saved the country from default. He said that having inherited an “isolated Pakistan” on the diplomatic fronts, his government made constant efforts throughout the year to revive foreign relations.
He said the recently unveiled economic revival plan would prove to be a milestone in restoring Pakistan’s economic position and that the recently set up Special Investment Facilitation Council had been established to remove impediments to investment.
‘GSP+ on track’
On the sideline of the summit, the prime minister met many world leaders. In a meeting with European Commission President Ursula von der Leyen, Mr Sharif conveyed Pakistan’s commitment to continue working in close collaboration with the European institutions for rehabilitation and reconstruction in the flood-affected areas.
Recalling the importance of the GSP+ preferential tariff scheme, he noted that it was on track as there was a strong political commitment in that regard.
After the meeting, Ms Leyen tweeted that the trade preference measures had already helped Pakistan increase exports to the EU by 65 per cent over the past eight years.
Responding to the tweet, Mr Sharif acknowledged the vital support extended by the EU in the rehabilitation and reconstruction of the flood-hit areas and its active participation in the Resilient Pakistan Conference in Geneva.
“GSP Plus has provided a strong boost to our exports and continues to remain critical to our economy. My government is keen to further build on our strong partnership with the EU. It is my pleasure to invite you for a visit to take our relationship forward in line with the vast potential at trade, economic and political levels,” he added.
First meeting with Chinese PM
Prime Minister Sharif also Chinese Premier Li Qiang and both agreed to celebrate the Decade of the China-Pakistan Economic Corridor (CPEC) this year to showcase its success. It was the first in-person meeting between the two leaders since Premier Li assumed office in March.
Expressing satisfaction at the steady development of CPEC projects in Pakistan, the two sides agreed on the project’s centrality for Pakistan’s socio-economic development and expressed commitment to continue working together to realise its shared objectives for the two countries, the Prime Minister’s Office said.
He noted that China’s firm opposition to holding any G20 meeting in the disputed region of Jammu and Kashmir was a vivid reflection of Beijing’s principled stance for upholding international law and UN resolutions.
He invited the Chinese premier to visit Pakistan at his earliest convenience, which the latter accepted.
PM meets German chancellor
The prime minister also met German Chancellor Olaf Scholz and thanked him for Germany’s support for the flood-hit people of Pakistan, besides providing economic support of 163 million euros.
In a meeting with the Brazilian president, the two leaders expressed satisfaction over the level of bilateral cooperation at multilateral forums. They also agreed to promote and expand bilateral cooperation, besides working in close coordination to explore new potentials of cooperation in all sectors of mutual interests.
PM Shehbaz also met Islamic Development Bank President Dr Muhammad Al Jasser and they took stock of the progress on various ongoing projects.
Published in Dawn, June 24th, 2023
from The Dawn News - Home https://ift.tt/pjTkuJy