GENEVA, Jun 10: Ambassador Masood Khan, Pakistan’s permanent representative to Geneva on Friday expressed concern over the growing gap between wealth and creation of jobs, posing serious challenge to international security and development.

He was speaking at the annual meeting of the Non-Aligned Movement Labour Ministers, traditionally held on the sidelines of the 93rd session of the International Labour Conference in Geneva on Friday.

He said the global economic situation reflected glaring disparities within countries, which are further accentuated by the fast pace of globalization.

Whereas the world economy had grown by 5 per cent in 2004, it had only translated into 1.7 per cent increase in jobs — a highly disturbing development at a time when unemployment and underemployment are rampant.

He appreciated ILO’s objectives of promoting decent work for young people through knowledge-building, advocacy and technical assistance.—APP