ISLAMABAD, Pakistan: Prime Minister Imran Khan on Thursday asked the “haven” Countries to immediately and unconditionally return all foreign assets that are shown to be stolen or whose “legitimacy” cannot be explained.
While addressing the virtual launch event of the Final Report of the High-Level Panel on International Financial Accountability, Transparency and Integrity for achieving the 2030 Development Agenda, Imran Khan said that US$ 7 trillion in stolen assets are parked in the financial “haven” Countries.
Imran Khan said that the flight of these vast resources from the developing Countries is a principal cause of their under-development, poverty, inequality, and political.
Live Stream: Prime Minister @ImranKhanPTI Address at Virtual Launch of the Final Report of the High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Development Agenda#PrimeMinisterImranKhan https://t.co/KsPk4UwnB7
— Prime Minister’s Office, Pakistan (@PakPMO) February 25, 2021
Prime Minister Imran Khan said that the United Nations should initiate various steps including negotiations on the new international tax cooperation and anti-money laundering legal instruments. He called for the establishment of a UN Coordination, Adjudication, and Mediation mechanism on illicit financial flows. He said that Pakistan will work actively with all like-minded Countries to realize these vital objectives.
The prime minister endorsed the Panel’s proposals which include the application of international “values” of honesty and integrity to all financial transactions, strengthening policy frameworks, and reforming relevant institutions dealing with these illicit financial flows.
Imran Khan said that national and cross-border financial transactions should be regulated under a “values-based” system, encompassing accountability, transparency, legitimacy, fairness, inclusion, and equity. He said that global financial governance must improve and policies on illicit flows must be implemented in a coordinated and coherent way by national and international institutions and bodies. He said that international bodies dealing with tax matters, corruption, and illicit financing should not be used as instruments of pressure and coercion against developing countries.
The prime minister said that the magnitude of the illicit financial flows is staggering can have a transformational impact on the development prospects of the developing Countries if returned.
Imran Khan said that recovery of the stolen assets will enable the developing Countries to eradicate poverty, reduce inequalities, build back better after the COVID crisis, address climate change and strengthen human rights.
