ISLAMABAD: Prime Minister Imran Khan on Tuesday urged the Shanghai Cooperation Organization (SCO) to build a knowledge-bank of best practices to fight COVID-19, saying it would guide member states through the second wave of the virus and beyond.
Addressing the 20th meeting of the SCO heads of state, he said it was imperative to adopt common approaches to prevent the spread of the virus, though he lamented that global harmony and multilateralism were undermined by rising geopolitical tensions, unilateralism and isolationism.
"We believe that the SCO fraternity, with its core principles of solidarity and mutual support, would be effective in combating the effects of COVID-19," he added.
Khan noted that the SCO should take a united stand and demand that the COVID-19 vaccine be viewed as a "global public good" to make it affordable and accessible to all. He also called for an SCO strategy and action plan to mitigate the adverse economic impact caused by the pandemic in the short, medium and long-term.
"We should call for more measures by G20 to meet common challenges like the climate change, deteriorating environment, widening inequality within and among nations, poverty, disease, hunger and sustainable development. This should include measures to stop financial outflows from developing countries to off-shore bank accounts in rich countries," he said.
The prime minister maintained that the foreign policy objectives of his country were in harmony with the SCO vision of regional connectivity and economic integration.
"SCO is destined to play a pivotal role in the emerging confluence between the Belt and Road Initiative (BRI) and Eurasian Economic Union (EAEU)," he said. "Pakistan’s geographical location provides it an ideal opportunity to crystallize the benefits accrued from this process. The China-Pakistan Economic Corridor (CPEC), the flagship project of BRI, is poised to play a vital part in this regard."
Khan emphasized that SCO member states should build partnership among education institutes, adding that they must also offer "scholarships and exchange program for youth in the scientific field."
PM Khan urges SCO to demand COVID-19 vaccine be a 'global public good'
https://arab.news/nnpk5
PM Khan urges SCO to demand COVID-19 vaccine be a 'global public good'
- The Pakistani leader comes up with several recommendations to strengthen the collective SCO framework
- Says the foreign policy objectives of his country are in harmony with the regional body's vision that seeks economic connectivity
Pakistan, ADB sign $730 loan agreements to boost SOE reforms, energy infrastructure
- Both sign $330 million Power Transmission Strengthening Project and $400 million SOE Transformation Program loan agreements
- Economic Affairs Division official says Transmission Project will secure Pakistan’s energy future by strengthening national grid’s backbone
KARACHI: Pakistan and the Asian Development Bank (ADB) on Thursday signed two loan agreements totaling $730 million to boost reforms in state-owned enterprises (SOEs) and energy infrastructure in the country, the bank said.
The first of the two agreements pertains to the SOE Transformation Program worth $400 million while the second loan, worth $330 million, is for a Power Transmission Strengthening Project, the lender said.
The agreements were signed by ADB Country Director for Pakistan Emma Fan and Pakistan’s Secretary of Economic Affairs Division Humair Karim.
“The agreements demonstrate ADB’s enduring commitment to supporting sustainable and inclusive economic growth in Pakistan,” the ADB said.
Pakistan’s SOEs have incurred losses worth billions of dollars over the years due to financial mismanagement and corruption. These entities, including the country’s national airline Pakistan International Airlines, which was sold to a private group this week, have relied on subsequent government bailouts over the years to operate.
The ADB approved the $400 million loan for SOE reforms on Dec. 12. It said the program seeks to improve governance and optimize the performance of Pakistan’s commercial SOEs.
Karim highlighted that the Power Transmission Strengthening Project will enable reliable evacuation of 2,300 MW from Pakistan’s upcoming hydropower projects, relieve overloading of existing transmission lines and enhance resilience under contingency conditions, the Press Information Department (PID) said.
“The Secretary emphasized that both initiatives are transformative in nature as the Transmission Project will secure Pakistan’s energy future by strengthening the backbone of the national grid whereas the SOE Program will enhance transparency, efficiency and sustainability of state-owned enterprises nationwide,” the PID said.
The ADB has supported reforms by Pakistan to strengthen its public finance and social protection systems. It has also undertaken programs in the country to help with post-flood reconstruction, improve food security and social and human capital.
To date, ADB says it has committed 764 public sector loans, grants and technical assistance totaling $43.4 billion to Pakistan.
