ISLAMABAD: National Accountability Bureau (NAB) chief Justice, Javed Iqbal, has said outflow of ill-gotton money was a basic reason of poverty, under development in third world and there was an urgent need to address this issue through a legal framework. NAB chief was addressing the special session of United Nations General Assembly (UNGA).
Justice Javed Iqbal gave a detailed view on impact of corruption on poor and under developed countries and suggested various measures to put an end to this ugly practice of plundering national resources by the ruling elite. He also apprised UNGA of measures taken by Pakistan to eradicate corruption from Pakistan and establish a corruption free society.
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Here is full text of NAB chief’s address to UNGA.
Excellencies,
Distinguished Delegates,
Ladies and Gentlemen,
We welcome the convening of this Special Session of the General Assembly against corruption.
2. This year marks fifteen years since the UN Convention against Corruption (UNCAC) entered into force. While we have made some progress during this period, corruption continues to hold back development and deprive people of their rights in far too many places around the world.
3. The recent report of the High-Level Panel on Financial Accountability, Transparency and Integrity has revealed that due to political and official corruption, as well as crime and tax evasion, trillions of dollars flow out of developing countries each year. Seven trillion dollars in stolen assets are parked in the financial “haven” countries and jurisdictions.
4. The flight of these vast resources from the developing countries is a principal cause of their under-development, poverty, inequality and political instability.
Mr. President,
5. Corruption is estimated to cost the world at least USD 2.6 trillion annually, approximately 5 percent of the global gross domestic product (GDP).
6. It is estimated that USD 1.26 trillion is lost by developing countries to corruption, bribery, theft and tax evasion each year. This is approximately nine times Official Development Assistance funding.
7. In order to reinforce the global fight against corruption, it is vital to strengthen international cooperation and efficiently prevent, detect, investigate and prosecute corruption, as well as to apply effective, proportionate and dissuasive penalties and recover criminal assets.
8. Fighting corruption is a fundamental precondition for upholding the rule of law, peace and security, achieving sustainable development and respect for human rights and fundamental freedoms.
9. It is also an integral part of the international commitment to end poverty, curb illicit financial flows and ensure that all people enjoy peace and prosperity.
Mr. President,
10. Pakistan is pleased to note the increasing significance of the United Nations Convention against Corruption in addressing the common challenge of corruption at the global level.
11. We continue to attach high priority to the fight against corruption.We believe that corruption should be prevented in all its forms and a culture of rejection of corrupt practices should be fostered at all levels.
12. Asset recovery is one of the fundamental principles of the UNCAC. It is a matter of high priority for Pakistan. Despite explicit articles of the UNCAC, there seems to be an increase in the barriers and challenges in the process of asset recovery and return to the countries of origin.
13. There is a growing concern that lack of political will, unnecessary delays, procedural complexities, bureaucratic hurdles and legal barriers in requested States, as well as high cost of asset recovery, continue to impede effective international cooperation in the area of asset recovery.
14. Importantly, the management, administration and utilization of the returned assets is the right and responsibility of the requesting state and that the recovered assets should be returned without conditionalities and in full respect of the sovereign rights of the states of origin.
Mr. President,
15. In the context of the current global challenges, new commitments are urgently needed which are bold, clear and concrete. Member states need to actively explore innovative ideas and initiatives to strengthen the existing international framework to prevent corruption and to end impunity.
16. This special session is an opportunity for all of us to explore and develop these ideas further, particularly on the following priority areas:
1. Immediate return of stolen assets;
2. Penalties on the financial institutions, lawyers and accountants, and other “enablers” of corruption, crime and tax evasion;
3. Disclosure of the “beneficial ownership” of companies;
4. A global minimum corporate tax;
5. Fair digital taxation;
6. Review and revision of unequal investment treaties; and
7. A coherent, transparent and inclusive mechanism for monitoring illicit financial flows set up under the United Nations.
17. Most valuable and innovative ideas have been presented to the UNGASS negotiating body, including those cited in the FACTI Panel report and those recommended in the UN Common Position Paper. Some of these proposals merit in-depth consideration that has not been possible in the negotiations for the UNGASS political declaration.
18. For this reason, the General Assembly may consider establishment of an open-ended intergovernmental working group to prepare concrete and technical proposals for supplementary frameworks, including the possibility of an additional protocol, to address gaps in the UNCAC, in particular related to the swift return of stolen assets. The proposals of this working group should then be presented to the UNCAC Conference of State Parties for consideration.
Mr. President,
19. For its part, Pakistan’s commitment to eradicating corruption remains clear and firm. We have established a comprehensive legal and institutional framework for controlling and combating corruption.
20. Over the years, we have also taken steps to improve institutional capacity and align domestic laws with international norms and standards embodied in the UNCAC.
21. We are also pleased to note increasing understanding for the role of parliaments in addressing corruption in all its manifestations. Pakistan’s resolution on the subject was adopted with consensus by the 8th Conference of Parties to UNCAC in its meeting held in Abu Dhabi in December 2019.
22. We strongly appreciate the General Assembly’s timely decision to put special focus on the problem of corruption through this special session.
23. We sincerely hope that there discussions and the political declaration to be adopted during this session will instill a new vigor to the global “fight against corruption”.
I thank you
