Prime Minister Shehbaz Sharif on Tuesday urged developed nations to assist developing countries in overcoming debt traps, which he attributed largely to climate change-related natural disasters.

Speaking at the SDG Moment 2024 Meeting on the sidelines of the 79th United Nations General Assembly in New York, the PM emphasized that the 2022 floods in Pakistan, which resulted from climate change, caused unprecedented damage even though the country contributes only a fraction of global carbon emissions.

“In 2022, we had the worst flooding in our history due to climate change and that was not our fault. We do not contribute even a fraction of a percent in terms of carbon emissions," he stressed, adding that wealthy, industrialized nations, responsible for the majority of emissions, must take responsibility and support developing nations.

““This is very important, otherwise this unbalanced, and unjust unfair system will lead to nowhere,” he warned.

Recalling the devastation of the 2022 floods, which caused $30 billion in damages, Sharif criticized the expectation that Pakistan should continue borrowing to repay existing debt. He referred to this cycle as a "death trap" that would further harm developing societies.

The prime minister highlighted the immense financial challenges developing countries face in achieving Sustainable Development Goals (SDGs), noting that the funding gap runs into trillions of dollars.

Sharif also touched on Pakistan’s struggle against terrorism, particularly in the aftermath of 9/11, when the country faced severe cross-border terrorism, costing the lives of 80,000 Pakistanis. “Finally we have been able to beat them (terrorists), but we lost $150 billion in the process,” he added.

Highlighting his efforts to improve education, both as chief minister of Punjab and now as prime minister, Sharif outlined various initiatives aimed at empowering underprivileged students. “I have introduced multiple initiatives to promote education and empower those segments of society which could not afford education for their children, for example Punjab Endowment Education Fund (PEEF) provides voucher scheme for girls and boys to get admission in schools in remote areas.”

He said he also established Danish Schools for talented, poor, and orphaned children, offering high-quality facilities, smart boards, and well-trained teachers. Many graduates of these schools have gone on to become doctors, engineers, and scientists.

In addition, Sharif's government introduced vocational training and skill development programs in educational institutions. However, he acknowledged the ongoing challenge of Pakistan’s 25 million out-of-school children, with efforts underway to enroll them.