PM Shehbaz for new global financial system

ISLAMABAD: Prime Minister Shehbaz Sharif during the summit for a New Global Financing Pact made a passionate case for a new system that corresponds better to the interests and needs of the global south.

On the invitation of French President Emmanuel Macron, the premier visited France to participate in a summit for a new global financing pact held in Paris from June 22 to 23.

As a panelist for the roundtable on “Innovative Instruments and Financing to Address Vulnerabilities”, the prime minister called for a serious rethink to ensure fair and equitable distribution of resources, and the provision of adequate financing for sustainable development and climate goals.

He also shared Pakistan’s experience of tackling the consequences of the catastrophic floods last year, through mobilizing a national effort for early response, and resilient recovery, reconstruction and rehabilitation.

During the summit, the PM held meetings with various world leaders, including Macron, the Saudi Crown Price, International Monetary Fund Managing Director Kristalina Georgieva, Islamic Development Bank Chairman Dr Muhammad Sulaiman Al Jasser and others.

The premier headed to London after his Paris trip, where he may be meeting his brother, PML-N supreme leader Nawaz Sharif.