PM Stresses Debt Relief for Emerging Nations at ECOSOC

Imran Khan, Pakistan’s prime minister, urged on Monday for an end to geopolitical rivalry and power struggles, saying that the globe was at a crucial juncture in human history. He said this was necessary to help underdeveloped countries deal with the Covid-19 pandemic’s detrimental economic effects.

“We must choose unrestricted global cooperation. In his opening remarks at the special UN Economic and Social Council (ECOSOC) event on Finance for Development, he stated that “together, we can – we must – establish a new, peaceful, equitable and sustainable world order.

The prime minister stressed the need to gather money “required by developing nations to recover from the Covid-induced recession and return them on the path to achieving the Sustainable Development Goals by 2030”.

Separately, the PM did not approve the plan to immediately withdraw government subsidies for gas, electricity, and wheat, but instead directed to take a gradual approach in order to protect the public, especially the middle-income group, who are now more exposed to spikes in food and energy prices. This decision was made while the PM presided over a meeting to review the status of government subsidies for these commodities.

The main topic of discussion, according to a local media site, was whether or not to keep providing Rs100 billion in annual subsidies for wheat flour.

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