Pakistan urges global financial reforms

July 22,2025 (MLN): Pakistan has warned of widening development gaps and called for urgent reforms to the global financial system, as only 35% of the Sustainable Development Goals (SDGs) are on track with just five years remaining until the 2030 deadline.

The message was delivered by Deputy Prime Minister and Foreign Minister Ishaq Dar during his address at the Ministerial Segment of the High-Level Political Forum on Sustainable Development in New York.

With just five years left to reach the 2030 deadline, Dar warned that only 35% of the SDGs are currently on track, said a press release.

He pointed to the devastating impacts of the pandemic, rising food and fuel prices, financial instability, and worsening climate events, which have collectively reversed years of development gains and deepened global inequality.

Pakistan’s national development strategies, including the Uraan Pakistan initiative, are fully aligned with the SDGs.

The Minister also highlighted key social protection programs such as the Benazir Income Support Programme and Benazir Nashonuma, which aim to uplift vulnerable communities and ensure no one is left behind.

To empower youth and promote inclusive education, the government has launched the Digital Youth Hub and expanded access through Danish Schools and new university campuses across the country.

These steps are part of broader efforts to unlock the potential of Pakistan’s younger population.

On climate action, Dar outlined Pakistan’s plan to transition to 60% renewable energy by 2030 and enhance resilience through programs like Recharge Pakistan and Living Indus.

These initiatives reflect the country’s commitment to sustainability and environmental protection.

The Deputy Prime Minister also noted that macroeconomic reforms are underway to stabilize Pakistan’s fiscal position and attract foreign investment.

He highlighted the role of the Special Investment Facilitation Council in channeling investment into high-priority sectors.

However, Dar emphasized that domestic efforts must be supported by global reforms. He called for increased access to concessional and grant-based financing, meaningful debt relief, and scaled-up climate finance to help developing nations bridge the SDG funding gap.

The address ended with a strong call to implement the Compromiso de Seville, adopted at the Fourth International Conference on Financing for Development, which Dar described as a key roadmap for driving progress on the global development agenda.

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