Islamabad, Feb 13: National Accountability Bureau (NAB) Chairman, retired Lt Gen Nazir Ahmed Butt, has expressed deep concern over 25,000 Pakistanis transferring their wealth overseas to acquire foreign citizenship through investment programs.
During his address at the Karachi Chamber of Commerce and Industry (KCCI), he highlighted the negative impact of capital flight and brain drain on Pakistan’s economy. He urged businesses and individuals to prioritize local investments to strengthen economic growth.
Emphasizing Pakistan’s potential, he stated that the country could achieve a trillion-dollar economy within the next six to seven years. However, he stressed the importance of advancing technology-driven sectors such as artificial intelligence (AI), cloud computing, and software development, rather than relying heavily on trade agreements like the European Union’s GSP+ scheme.
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Discussing economic progress, he noted that rice exports had surged to $3.8 billion, contributing to a total of $9 billion in agricultural exports. He underscored that Pakistan had successfully shifted from an import-reliant economy to an export-driven one, marking a significant economic transformation.
To support businesses, the NAB chairman reassured the private sector that the bureau remains committed to ensuring a harassment-free environment. He invited KCCI members to report any grievances for swift resolution. Additionally, he announced reforms to strengthen NAB’s Businessmen Facilitation Desk, integrating representatives from key industry organizations to enhance collaboration and efficiency.
With these measures, NAB aims to create a more transparent and investment-friendly business climate, encouraging local entrepreneurs to contribute to Pakistan’s economic prosperity.
