Wednesday Dec 09 2020
Web Desk

PM Imran Khan welcomes Joe Biden's intent to go after dirty money

Web Desk
File photos of PM Imran Khan (L) and Joe Biden (R).

ISLAMABAD: Prime Minister Imran Khan has welcomed United States President-elect Joe Biden's intentions to bring transparency to the global financial system. 

Sharing a Foreign Policy article, PM Imran Khan said he welcomed Biden's intent of a policy targeting dirty money. "Developing countries are being impoverished by their corrupt elites who launder money to richer countries and offshore tax havens," he said. 

Read more: Not going to IMF immediately was govt's biggest mistake, says PM Imran Khan

In an essay for Foreign Affairs, Biden said he would "lead efforts internationally to bring transparency to the global financial system".

The Democrat outlined going "after illicit tax havens, seize stolen assets" and making "it more difficult for leaders who steal from their people to hide behind anonymous front companies".

His choice for National Security Advisor, Jake Sullivan echoed the same sentiments when he told Politico that his loftiest goal was “to rally our allies to combat corruption and kleptocracy, and to hold systems of authoritarian capitalism accountable for greater transparency and participation in a rules-based system.”

9-point plan

In September, while addressing to the United Nations International Financial Accountability, Transparency and Integrity (FACTI) panel, PM Imran called upon countries he termed "tax havens" to "adopt decisive actions" and return wealth looted from developed countries.

"We welcome the interim report of the FACTI panel. The figures [...] mentioned in the report are staggering," the premier had said.

He said that $1tn is taken out each year "by these white-collar criminals".

The prime minister also presented a 9-point plan to go after dirty money. 

Fight against corruption

The premier is famously known for his crusade against corruption - it was the main feature in his election campaign and regularly takes the centre stage in his speeches after winning the polls. 

Since assuming office, PM Imran Khan launched the anti-corruption drive and refused to negotiate with the Opposition, emphasising that there would be no NRO. He counts corruption as one of the biggest impediments to investment in a country and its economic growth. 

The prime minister often expresses admiration for the anti-corruption strategy employed by Chinese President Xi Jinping. "I wish I could follow President Xi's example and put 500 corrupt people in Pakistan in jail," PM Imran Khan said at the China Council for Promotion of International Trade last year.