-Emphasizes world to seek commitment from ‘haven’ countries to return all foreign stolen assets
-Urges to initiate negotiations on new int’l tax cooperation
-Expresses pleasure over Final Report of the Panel marking his proposed policy actions
By Ali Imran
ISLAMABAD: Prime Minister Imran Khan Thursday emphasized the international community to seek commitment from the “haven” countries to return all foreign stolen or illegitimate assets and develop international anti-money laundering legal instruments.
Addressing as a keynote speaker at the virtually held launching ceremony of the Final Report of the High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Development Agenda (FACTI Panel), the prime minister called for considering the OECD’s proposal to freeze and return the unexplained assets of foreign “Politically Exposed Persons.”
The event was also addressed by 75th President of the General Assembly Volkan Bozkir, 76th President of the Economic and Social Council Munir Akram.
The report presents 14 recommendations to reform, redesign and revitalize the global architecture, so it can effectively foster financial integrity for sustainable development. Besides, it stresses for strengthening coordination and global governance related to financial integrity as an essential component of the common agenda for the common future of present and coming generations.
Urging for some quick concrete actions, the prime minister first emphasized on “a commitment by “haven” countries to immediately and unconditionally return all foreign assets that are shown to be stolen or whose “legitimacy” cannot be explained. The OECD’s proposal to freeze and return the unexplained assets of foreign “Politically Exposed Persons” is worthy of consideration.”
The FACTI Panel is the High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda. “It aims to improve the world’s chances of achieving sustainable development by making recommendations that both strengthen current efforts to combat illicit financial flows, and close remaining gaps in the international system,” The prime minister urged the international community to initiate negotiations on the new international tax cooperation and anti- money laundering legal instruments, like the Convention on Corruption.
The adoption of common principles identified by the FACTI Panel to apply to all financial transactions, and establishment of a UN coordination, adjudication and mediation mechanism on illicit financial flows also comprised the quick concrete actions proposed by the prime minister who is now globally recognized for his efforts against corruption and money laundering for his decades long struggle to purge the country of the very evils.
He told the audience that his government had inherited a country with empty coffers, denuded by huge and accumulated trade and fiscal deficits, but “more than that, by illicit financial outflows from our country.”
