UNITED NATIONS - UN leaders Wednesday issued urgent calls for action to ease the burden of the worlds poorest as top officials from around the globe gathered in New York to discuss how to address the worst economic meltdown in decades. Representatives from nearly 150 Member States are scheduled to address the three-day Conference on the World Financial and Economic Crisis and Its Impact on Development. Pakistan is represented by the State Bank Governor, Syed Salim Raza. General Assembly President Miguel DEscoto and Secretary-General Ban Ki-moon both underscored the need for the reform of international financial institutions to make them more effective in order to meet modern challenges. The event will also feature several roundtable discussions on topics including the role of the UN in responding to the crisis and how to mitigate the impact of the downturn on development. The world institutions created generations ago must be made more accountable, more representative and more effective, Ban said. We need to work together to reform global rules and institutions. Ban told the high-level gathering that the world was still struggling to overcome the worst ever global financial and economic crisis since the founding of the United Nations more than 60 years ago. He noted that at his initiative, leaders of 20 leading economies agreed at an April summit in London on a 1.1 trillion dollar stimulus package to be disbursed through the International Monetary Fund and other multilateral aid agencies to advance the interests of all nations, especially developing countries. Ban said he had just sent a letter to leaders of eight industrialized nations urging concrete commitments and specific action to renew our resolve. The three-day conference aimed to identify emergency and long-term responses to mitigate the impact of the (financial) crisis, especially on vulnerable populations, according to President DEscoto, the organizer of the event. Nearly 120 UN member states are represented at the parley, including presidents Rafael Correa of Ecuador and Hugo Chavez of Venezuela, the vice presidents of Iran and Zimbabwe, and the prime ministers of Bosnia, Serbia, Togo and several Caribbean nations.