ISLAMABAD: Prime Minister Imran Khan has said that the global community must take steps to avoid vaccine nationalism by ensuring that the Covid-19 vaccine is available to everyone.
The prime minister expressed these views while delivering the opening statement at the Economic and Social Council (ECOSOC) Forum on Financing for Development (FfD), which is being held under Pakistan’s presidency from April 12-15.
The purpose of the forum is to mobilize adequate financial support to enable the developing countries to recover from the impact of the pandemic and achieve sustainable development goals (SDGs).
PM Imran said, “The international community must ensure that the vaccine is available to everyone, everywhere. If not, the COVID-19 will roam around and come back. Production of the vaccine must be ramped up. Patent and technology-transfer limits should be waived to enable this,” he added.
The vaccine nationalism, export restrictions on it as well as the use of the vaccine to advance national foreign policy objectives, PM Imran deplored.
He said that the medium is a vital chance to adopt decisions on ways to mobilize the money required by developing countries to recover from the Covid-induced recession and reinstate them on the path to achieving the Sustainable Development Goals by 2030.
Pakistan successfully contained the first two waves of the virus through a policy of “smart lockdowns” The premier said. “We implemented an 8 billion dollar relief package to assist the poor and vulnerable segment of society, and to keep our economy buoyant at the same time,” he added.
“I am happy to say that the G-20’s debt suspension has been extended. Its scope requires to be expanded to cover all vulnerable countries, particularly the small island developing states,” he said and added that the private creditors must contribute in providing debt relief and restructuring.
PM Imran said that Pakistan sincerely welcomes the suggestion from the IMF Managing Director to create 650 billion dollars in new SDRs, and valued the support for this from the largest shareholders, including China, the EU, Japan and the US.
The premier said the IMF, the World Bank and other organizations now have a huge ability to enlarge concessional financing for developing countries, adding that the forthcoming IDA replenishment should be expanded to 60 billion dollars.
The developing countries should also be able to borrow from the markets at the prevailing low-interest rates which are available to developed countries, he said.
He said that the panel on Financial Accountability, Transparency and Integrity (FACTI) has planned 14 suggestions to stop the outpouring of trillions of dollars from developing countries.
These recommendations should be endorsed by the United Nations and all financial institutions PM Imran urged, adding that the stolen assets of developing countries must be returned instantly and more importantly unconditionally.
PM Imran said that a suspension should be declared on the exorbitant claims adjudicated against some developing countries in investment disputes, adding lopsided and exploitative investment agreements should be canceled and revised.
“Pakistan’s carbon emissions are among the lowest in the world, yet the country is one of the most seriously affected and vulnerable countries due to climate crisis,” the premier maintained.
“We have embarked on an ambitious programme to create a ‘green’ Pakistan through reforestation, by planting 10 billion trees over the next three years, and introduction of renewable energy, electric vehicles and a moratorium on coal-burning power plants,” he added.
PM Imran reiterated that the developed nations must fulfill their pledges under the Paris Agreement and activate 100 billion dollars yearly in climate finance as they have promised.
