Deputy Prime Minister and Foreign Minister Ishaq Dar on Monday called for fundamental reforms to the international financial system, warning that without debt relief and grant-based financing, sustainable development will remain out of reach for developing countries.
Addressing the high-level political forum on sustainable development at the United Nations, Dar said that the current financial structures are ill-equipped to respond to the challenges facing the Global South. He emphasized that genuine progress on the 2030 Agenda requires more equitable financial mechanisms, especially for nations burdened by debt and climate vulnerabilities.
Dar noted that Pakistan remains fully committed to the Sustainable Development Goals and has introduced a series of transformative initiatives to support inclusive growth, improve economic resilience, and strengthen climate adaptation. He said the country’s ongoing macroeconomic reforms are stabilizing the economy and improving the investment climate, making Pakistan a more attractive destination for international capital.
He highlighted the role of the Special Investment Facilitation Council in accelerating foreign investment in key sectors and pointed to the government’s focus on renewable energy, aiming to generate 60 percent of Pakistan’s energy from clean sources by 2030. Programmes such as Recharge Pakistan and Living Indus, he said, are designed to enhance environmental resilience while supporting sustainable growth.
Dar also outlined several national development projects, including the Uraan Pakistan programme and the expansion of the Digital Youth Hub, alongside targeted social protection initiatives such as the Benazir Income Support Programme. These, he said, are meant to ensure that economic reforms translate into real benefits for ordinary citizens.
He described the UN’s 80th anniversary as a pivotal moment to strengthen the multilateral system and make it more responsive to the realities of today’s world, particularly for countries grappling with the consequences of inflation, climate shocks, and external debt.
Later, during a meeting with UN Secretary-General Antonio Guterres, Dar reiterated Pakistan’s support for multilateralism and stressed the need to enhance global cooperation in areas of economic development and conflict resolution. He also called for increased international support for concessional financing, liquidity assistance, and debt relief for developing nations.
The deputy prime minister reaffirmed Pakistan’s commitment to the core principles of the UN Charter and expressed support for ongoing efforts to strengthen the organisation’s role in promoting peace, development, and human rights. He welcomed the Secretary-General’s “UN80” initiative and said it offers a vital opportunity to reform global governance in a way that supports the aspirations of the Global South.
