National Accountability Bureau (NAB) Chairman Lieutenant General (Retd) Nazir Ahmed has said that all of Pakistan’s debts can be paid off through Karachi.
According to sources, he made these remarks while addressing the business community in Karachi yesterday. NAB Chairman Lt Gen (Retd) Nazir Ahmed said that he understands the concerns and challenges faced by Karachi’s traders and business community, where business confidence is currently not very strong.
He said there are issues related to taxes and security is not ideal. These matters are not under his direct mandate, but they do affect confidence. The NAB chairman assured the business community that their issues would be resolved in coordination with stakeholders, adding that despite all the negative factors, many positive developments are also taking place.
He said that 65 percent of Pakistan’s 250 million population consists of youth, which is a guarantee of a better future. He added that Pakistan is a food-producing and resource-rich country, with agriculture meeting domestic needs, although fuel and edible oil still have to be imported.
He said Pakistan is a powerhouse of minerals, and after May, the country has gained a new identity in the world. He noted that many global problems stem from debt, and the world is gradually shifting from reliance on the dollar to other currencies.
The NAB chairman said it reflects the government’s capacity that it does not publicize the difficulties of negotiations with the IMF, but the next two years are very important, during which more opportunities will emerge. He stressed that exiting the IMF program should be a national agenda.
He said the government will provide resources to traders to present a new face of Karachi and will work only through consultation with them. He added that with a little attention and timely measures, Pakistan’s entire debt can be paid off through Karachi, and that by mid-April to May, foreign exchange reserves could reach between 40 and 48 billion dollars.
Addressing the traders, he said that work is underway on many new ideas, urged them not to lay off workers, and added that many positive changes are coming. He said that once the economic wheel starts moving, all problems will gradually be resolved.
