But autocracy in the garb of democracy led to dishonest governance and the collapse of institutions. We stand sincerely committed to rebuilding and strengthening the institutions of state to give the country genuine and durable democracy. Mr. President, A particularly dark aspect of the misrule damaging democracy in Pakistan has been corruption. Paradoxically, we have heard long lectures on democracy from countries which have laws that actually encourage corruption, by giving ready asylum to plunderers, and facilities for concealment of illicit wealth in secret accounts in their banks. Such transfers will not make them much richer but the poor will certainly become much poorer.
Corruption is a transnational crime that calls for concerted international action.
The United Nations should call for banning the transfers of ill gotten wealth and demand cooperation in tracing and repatriating such funds. The best assurance for the consolidation of global peace lies in the economic development and prosperity of all regions and all peoples. Economic progress in one region supports and complements prosperity in the other. The process of globalization and trade liberalization had raised hopes, but has caused disappointment. Global trade regimes make the rich North richer, and the poor South poorer.