We thank you for convening this dialogue on ‘Financing for Development’.
Pakistan aligns itself with the statement made by the distinguished Representative of Fiji, on behalf of the Group of 77 and China.
We would, however, like to make some additional points in our national capacity.
Pakistan considers this deliberation on the status of implementation and tasks ahead with regard to the Monterrey Consensus and the Doha Declaration on Financing for Development timely. There is also a critical to link with the ongoing discussions on a post-2015 Development Agenda with financing needs.
We have witnessed some progress on the goals set at Monterrey, and reaffirmed at Doha. The objectives of sustained economic growth and sustainable development, however, are yet to be achieved. Our work on establishing a fully inclusive and equitable global economic system can at best be termed as a ‘work in progress’.
We will like to contribute four points to today’s discourse:
First, Inclusive economic growth and sustainable development cannot be achieved without sound domestic socio-economic policies, domestic resource mobilization and good governance.
Second, A global economy that provides equitable opportunity to all countries, big or small, least developed or emerging, small islands or land locked, is an imperative for creating a better future for the people of the world.
Third, It is crucial to design policies that enable the private sector overcome its short term horizon and risk aversion, particularly with regard to infrastructure, innovation and small and medium enterprise financing – the areas that are vital for enhancing economic growth and the pace of development.
Fourth, we are pleased that the Intergovernmental Committee of Experts on Sustainable Development has started its work. We are also supportive of the climate financing track. We hope that these deliberations shall lead to an integrated and a coherent financing framework including for the post-2015 Development Agenda.
The Government of Pakistan is committed to bring prosperity to the people of Pakistan. We are correcting structural imbalances, encouraging domestic resource mobilization, improving revenue collection and strengthening partnership with the private sector. From the world, we seek enhanced trade, investment and strong economic partnerships.
Lastly, given its unquestioned legitimacy and representative character, we urge the United Nations to continue to lead efforts to foster a spirit of genuine partnership.
I thank you.