“Recovery of stolen asset will enable eradicate poverty,” PM says during FACTI Panel virtual addressing

Arhama AltafWeb Editor

25th Feb, 2021. 07:44 pm
PM Imran Khan FACTI virtual; address

Prime Minister Imran Khan has on Thursday addressed at Virtual Launch of the Final Report of the High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Development Agenda. 

During his address, PM Imran said that trillions of rupees have been illegally transferred abroad from developing countries.

He said that unequal agreements should be reconsidered while measures against transparency should be imposed at the international level.

The Prime Minister added the UN should initiate various steps, including negotiations on the new international tax cooperation and anti-money laundering legal instruments.

He called for the establishment of a UN Coordination, Adjudication and Mediation mechanism on illicit financial flows. Pakistan will work actively with all like-minded countries to realize these vital objectives, he said.

The Prime Minister endorsed the Panel’s proposals, which include the application of international “values” of honesty and integrity to all financial transactions, strengthening policy frameworks and reforming relevant institutions dealing with these illicit financial flows.

PM Imran Khan said the magnitude of the illicit financial flows is staggering can have a transformational impact on the development prospects of the developing countries if returned.

He said the recovery of the stolen asset will enable the developing countries to eradicate poverty, reduce inequalities, build back better after the COVID crisis, address climate change and strengthen human rights.

Earlier in the day, Prime Minister Imran Khan has said that Sri Lanka is a special friend and a strong partner of Pakistan.

Taking to his official Twitter handle, the premier extended thankfulness to the leadership and the people of Sri Lanka for their warm reception and gracious hospitality during his recent visit.

The Prime Minister said he agrees with the impression that Pakistan-Sri Lanka relations are growing in a dignified manner for further expansion and promotion.

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