Ahsan Iqbal: Pakistan keen on alluring private sector to attain SDGs

• Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal stated on Thursday that the Pakistani government was eager to explore cooperation opportunities and find solutions with the corporate sector to accomplish the Sustainable Development Goals
• Switzerland, Pakistan, Ghana, and Montenegro were co-sponsors of the event.
  The minister congratulated the forum’s organizers and co-organizers for hosting the discussion on “leaving no one behind” for a resilient economic recovery

NEW YORK: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal stated on Thursday that the Pakistani government was eager to explore cooperation opportunities and find solutions with the corporate sector to accomplish the Sustainable Development Goals (SDGs).

“The way forward for Pakistan is to develop an economic value proposition that creates incentives for financial markets and private investors to participate in sustainable development through a strategic partnership and innovative financial instruments supported by a conducive policy framework,” the minister said at a conference on the Localization of VNR process at the headquarters of the United Nations.

Switzerland, Pakistan, Ghana, and Montenegro were co-sponsors of the event.
The minister congratulated the forum’s organizers and co-organizers for hosting the discussion on “leaving no one behind” for a resilient economic recovery.

According to him, the increased uncertainty caused by COVID-19 has caused a unique convergence of geopolitical reorientation, supply disruptions, food and energy instability, and increasingly volatile financial markets.

Pakistan’s second VNR Report documents the progress of the national key performance indicators, he said, adding that the report had been painstakingly compiled and produced at a pivotal time when the country had faced an unprecedented human and economic toll and continues to fight an uphill battle to address the inequities in implementing its recovery and rehabilitation efforts across the country.

Consequently, according to Ahsan Iqbal, our second VNR also takes into account the loss of development benefits and the resultant delays in reaching Agenda 2030.
While we struggle to manage our internal and foreign macroeconomic imbalances, the Pakistani government is committed to rectifying the situation.

He stated that Pakistan was a resilient nation that has faced comparable debt levels and deficits in the past and emerged victorious.
“We believe that capitalizing on the youth bulge, providing room for the private sector, and concentrating on governance, regulation, and the social sector will be essential for future sustainability and progress on the SDG 2030 agenda.”

Today, he stated that one of our greatest difficulties is to devise inventive methods for handling several obstacles while simultaneously capitalizing on the numerous possibilities they present.
The purpose of Voluntary National Reviews (VNRs) is to assess how far nations have come in achieving the Sustainable Development Goals (SDGs).

Inclusion, the minister stressed, is the key to achieving sustainable development. When it is accompanied by equity, it accelerates the process. We are advancing toward the year 2030.
He noted that the epidemic widened the chasms of inequality, sending numerous nations down the perilous route of economic rescue by borrowing.

Even rich nations are already struggling from its repercussions, he added, indicating that the global outlook is dismal. There is an urgent need for homegrown solutions based on the principles of sustainability and independence.
Utilizing young potential to its fullest extent, positioning women as drivers of economic progress and prosperity, and channeling excluded parts of society into sustainable and community-driven social safety nets may minimize state costs and provide overall economic advantages.

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“We are making a concerted effort to broadly and strategically engage stakeholders because we want our second VNR to be a compilation of our national and provincial initiatives, collective knowledge creation, strategic resource redirection, and unanimous political commitment to advancing the SDG agenda,” he explained.