NEW YORK: Caretaker Prime Minister Anwaarul Haq Kakar, during the SDG Summit Leaders Dialogue at the 78th United Nations General Assembly (UNGA) session in New York, criticized the international financial system as “morally bankrupt.” He made these remarks in the context of the challenges faced by developing nations in achieving the Sustainable Development Goals (SDGs).
The SDG Summit, which took place from September 18-19, marked the halfway point for achieving the 2030 Agenda and the Sustainable Development Goals, set by the United Nations in 2015. These goals include addressing issues such as zero hunger, reduced inequalities, clean water and sanitation, decent work and economic opportunities, responsible consumption and production, and peace and justice.
PM Kakar pointed out that despite eight years passing since the adoption of Agenda 2030, only 12 percent of the SDG targets are on track, with the crises of COVID-19, climate change, and conflict severely impacting the economies of developing countries. He argued that a “morally bankrupt international financial system” has further exacerbated these challenges.
The caretaker PM also stated that Pakistan will advocate for climate justice and the fulfillment of the pledge to provide over $100 billion annually in climate finance during the 2023 United Nations Climate Change Conference (CoP28) in Dubai later this year. Pakistan also seeks the allocation of half of the $100 billion climate finance for climate adaptation and the immediate launch of the Fund for “loss and damage.”
PM Kakar Urges Global Action at UN Assembly
Additionally, PM Kakar welcomed the inclusion of proposals from Pakistan and other developing countries in the SDG Summit Political Declaration. These proposals include endorsing the Secretary-General’s SDG Stimulus, early capitalization of Multilateral Development Banks, re-channeling Special Drawing Rights (SDRs) for development, and reforming the international financial architecture.
To ensure the immediate implementation of these agreements, PM Kakar proposed the creation of a Working Group of the General Assembly.
The theme for the 78th session of the UN General Assembly is “Rebuilding Trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress, and sustainability for all.” Prime Minister Anwaarul Haq Kakar will also attend the banquet to be hosted in honor of world leaders by US President Joe Biden.
