ISLAMABAD: Minister of State for Finance, Dr Aisha Ghaus Pasha Friday emphasized the involvement of the private sector to achieve the SDGs as the government does not have adequate space to allocate resources for sustainable goals consequent of the Covid-19 pandemic and the rising global commodity prices.
She stated this while talking to the UNDP Resident Representative, Knut Ostby, who called on the minister on Friday and briefed the Minister of State on the ongoing UNDP portfolio and shared the findings of the report on leveraging private investment for Pakistan’s sustainable development.
The report offers a strategic partnership model for raising global institutional impact investments worth $2 billion in the next three years in Pakistan. He stated that overall Pakistan offers a private investment opportunity in sectors of clean and green environment, transport and logistics, technology and communication, health and education.
Dr Pasha appreciated the key role of UNDP as a development partner in achieving the SDGs and reiterated the commitment of the government of Pakistan to the achievement of the SDGs.
She emphasized that SDGs are the government’s own commitment to the people of Pakistan for ensuring their betterment and prosperity.
She stated that the Covid-19 pandemic and the rising global commodity prices have shrunk the fiscal space for developing countries to allocate adequate resources for sustainable development. Therefore, the need for involvement of the private sector to bridge the financing gap for sustainable development is critical to achieving the SDGs, the minister added.
She further stated that human capital investments including priority sectors such as gender equality, population planning, education, nutrition and water will bring benefits for sustainable development.
The minister assured full support of the Ministry of Finance for the proposed SDGs Project Development Facility to leverage private capital and acknowledged the work being done by the UNDP on SDGs Investment Map for Pakistan and encouraged the UNDP to complete it at the earliest.
Copyright Business Recorder, 2022