Home Minister Mohsin Naqvi chairs a meeting at NADRA headquarters in Islamabad PHOTO: RADIO PAKISTAN
KARACHI:
Home Minister Mohsin Naqvi on Tuesday urged the business community to repatriate some of the wealth held abroad, estimating that nearly $100 billion has been taken out of the country in the last three to four years.
Addressing business leaders in Karachi, the minister said that if traders act decisively, up to $10 billion could return to Pakistan before the next budget.
He encouraged investors to use existing financial channels, including Roshan digital accounts, to recover 20% to 30% of their offshore funds.
He assured the business community that the government would provide a more enabling and business-friendly environment, emphasizing that Pakistan offered some of the highest investment returns globally.
“If you invest in Pakistan, the level of benefits available here is unmatched anywhere else in the world,” he said.
The minister revealed that a proposal was being prepared to introduce a special passport for real businessmen, similar to official and diplomatic passports. The proposal will be presented to Prime Minister Shehbaz Sharif soon.
“The initiative aims to alleviate visa-related challenges faced by legitimate traders, particularly when traveling to countries such as China, the United States, Europe and the United Kingdom,” he added.
Highlighting governance reforms, Naqvi said the Federal Investigation Agency (FIA) would be made more business-friendly, and stressed that the entire business community should not suffer due to the actions of a small minority. However, he warned that strict action will be taken against those involved in illegal money transfers.
He acknowledged concerns over the role of money changers and stated that several major transaction groups in Karachi had already been identified and would face action without leniency.
