PM Shehbaz pushes for global financial reforms to attain SDGs

• Shehbaz attends UN's first virtual Summit of Future Global Call.
• "We are at risk of permanently damaging notion of 'we'", PM says.
  
• Premier calls for new financial solutions to address debt challenges.
  

Prime Minister Shehbaz Sharif on Friday called for substantial reforms of the international financial framework to attain the sustainable developmental goals (SDGs). 

The premier urged on the reforms during his video appearance at the first virtual Summit of the Future Global Call at the United Nations in New York.

PM Shehbaz emphasised the need for enhanced concessional financing, increased Official Development Assistance, and greater lending from multilateral development banks.

Presenting a comprehensive plan to world leaders, the PM outlined strategies for economically vulnerable nations to reach the SDGS and to address global challenges.

He also highlighted the "constant threats to the concept of collectivism", saying that in times of unprecedented global challenges and escalating conflicts, "we are at risk of permanently damaging the notion of 'we'".

He said a collective "we" requires a degree of equality and justice and that the plight of the people of Gaza is a mockery of the concept of collectivism.

The premier stressed the need for innovative financial solutions to address debt challenges, including "climate debt swaps" and "equitable debt relief mechanisms".

He said while technological advancements offer great opportunities for progress, it is vital that these technologies are accessible to all, particularly the citizens in the Global South.

The prime minister said open access to innovations can empower our people and at the same time, new technologies require new and effective safeguards to prevent the world from their possible misuse.

He said injustices and inequalities create avenues for malign actors, both locally and globally, particularly in nations grappling with climate vulnerability and high debt, which also face terrorism and disinformation.

The prime minister said effective international cooperation is more urgent today than ever before to counter these harms.