The statement by Ambassador Asim Iftikhar Ahmad, Permanent Representative of Pakistan to the UN, at ECOSOC underscores a global surge in disruption to energy and supply flows that is reverberating across every region and economy. The human cost is already staggering and continues to mount as global fuel prices have more than doubled above the 2025 average, placing an estimated 32 million additional people at risk of sinking into poverty. In the developing world, governments are being pushed toward austerity measures precisely when social protection is most needed, a combination that threatens basic livelihoods, health, education, and productive capacity. If this trajectory persists, growth could stall, investment could dry up, and long-term economic hardship may become entrenched, widening inequalities and slowing human development. The crisis is the product of intertwined shocks: energy market volatility, bottlenecks in global supply chains, geopolitical frictions, and the fiscal strain on vulnerable economies. AhmadтАЩs remarks call for immediate, coordinated action to safeguard energy and supply flows, including diversification of energy sources, strengthening strategic reserves, investing in energy efficiency, and preserving social protection programs to shield the most vulnerable while supporting a just transition. My assessment is that the path forward requires bold international solidarity, not selective austerity. Wealthier nations must provide financing, debt relief where warranted, and technology transfer to help developing countries diversify, decarbonize, and build resilienceтАФso that energy access remains affordable and growth can be protected during this period of volatility.
Source: Statement from @PakistanUN_NY
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Published: May 16, 2026, 10:48 am
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