The Chairman of the National Accountability Bureau (NAB), Lt. Gen. (retd) Nazir Ahmed, has called on Pakistan’s business community to help develop a national plan to reduce the country’s debt by using Karachi’s economic potential.
Speaking to business leaders, the NAB Chairman said the anti-corruption body understands the difficulties faced by entrepreneurs and is committed to improving coordination with the private sector.
He stressed that collective efforts between institutions and businesses could strengthen Pakistan’s economy and help address long-standing financial challenges.
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Lt. Gen. (retd) Nazir Ahmed highlighted that the global economic and political landscape has changed significantly since last May, making the next two years critical for Pakistan.
He urged stakeholders to prepare for emerging global trends and opportunities, especially as major deals are progressing in the defense sector. According to him, Pakistan must adapt to the “new world order” by strengthening its economic foundations and strategic planning.
The NAB Chairman described Pakistan as a trillion-dollar economy and encouraged the business community not to focus excessively on external trade concerns, including the $200 million GSP status issue.
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Instead, he urged industries to compete on their own strengths and innovation, emphasizing the need for self-reliance and competitiveness in global markets.
Discussing provincial developments, he revealed that NAB has achieved significant results in Sindh. According to him, the bureau has recovered Rs 11.4 trillion through accountability efforts.
He also stated that NAB has returned jewelry, vehicles, and properties worth Rs 50 billion and recovered land valued at Rs 1,570 billion that had been illegally occupied.
Furthermore, he disclosed that NAB identified land worth Rs 11 trillion in Jamshoro and Hyderabad under a joint framework with the Sindh government.
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On fiscal policy, the NAB Chairman said opportunities for hiding black money are shrinking and stressed that tax policies should be balanced and reasonable. He criticized the practice of increasing taxes every year, calling it an unusual approach that could harm economic stability.
Expressing optimism about Pakistan’s future, Lt. Gen. (retd) Nazir Ahmed said that once Pakistan exits the IMF program, the country’s economic policy would become more independent.
He predicted that foreign exchange reserves could rise to $40 to $45 billion if reforms and cooperation continue.
