ISLAMABAD:Special Assistant to Prime Minister (SAPM) for Commerce and Industries, Rana Ihsan Afzal on Wednesday said that the government would have to introduce drastic reforms in various sectors to create fiscal space for financing the Sustainable Development Goals (SDGs) agenda.
He was speaking at a session titled “Strengthening Means of Implementation to Advance Progress on the SDGs: Financing for Development”, on the third day of 25th Sustainable Development Conference (SDC) of Sustainable Development Policy Institute (SDPI).
He said that our crop yields were very low and must be brought at par with the international standards to minimize the import pressure on the country.
Speaking on the occasion, Former Senator Ayesha Raza Farooq said “We also need to create fiscal space as much as possible to promote SDGs agenda.”
She underlined that the challenge of limited financing resources was one of the biggest impediments in the way of achieving SDGs.
“If the rich nations had raised trillions of dollars during the COVID-19 pandemic, why they cannot raise such kind of funding to support the developing countries with regard to the SDGs,” she said.
Director, Macroeconomic Policy and Financing for Development Division, ESCAP, Dr Hamza Malik, said “Pakistan needs 17% of GDP worth of financing to effectively pursue the GDP agenda, however, the actual funding for the purpose is only 1% that is alarming.”
Senior Planning Officer, District Administration, Lhuentse (Bhutan) Pema Tshewang said several emergency measures had been taken in Bhutan, including revision of tourism policy, launch of national coverage scheme to promote business, accountability and tax reforms.
He stressed on promoting international and regional cooperation to support developing countries in achieving SDGs agenda.