NAB chief assures businessmen of maximum relief

KARACHI: National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed Butt has assured the business community of maximum relief in dealing with irrational cases and emphasized that NAB is fully committed to supporting businesses by intervening to address the harassment caused by any department.

Speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI) on Wednesday, the NAB chairman, highlighting accountability watchdog’s efficiency, informed the participants that out of 14 cases of business community, 13 were resolved within six months, showcasing Bureau’s dedication to resolving matters swiftly. He encouraged the KCCI to submit five general cases along with five to six individual cases which would be prioritised by NAB for resolution so that relief could immediately be provided to distressed members of business community.

According to a KCCI statement, responding to concerns of the business community, the NAB chairman assured that under his leadership, the culture of fear and harassment had been completely eradicated at the Bureau. “New rules to prevent harassment of businessmen have been instituted at NAB,” he said, adding that NAB’s Businessmen Facilitation Desk would be improved by including members from the KCCI, ABAD and other relevant institutions.

He stressed the need for an enabling business environment and a level-playing field, which NAB continuously strives to achieve despite occasional challenges. He also expressed optimism about Pakistan’s future, pointing out the advantages of the country’s large population and growing consumer market, which present significant opportunities for long-term investment.

The NAB chairman also expressed confidence that Pakistan has the potential to become a trillion-dollar economy within the next six to seven years if the nation maintains its focus and dedication to growth.

He elaborated on the opportunities within Pakistan’s agriculture sector, citing that rice exports alone had reached $3.8 billion, while total agricultural exports touched $9 billion. He noted that Pakistan had shifted from an agriculture-import-driven economy to an agriculture-export-driven one, a positive trend that should be leveraged.

On the matter of Pakistan’s global competitiveness, Lt-Gen (retd) Nazir Ahmed emphasized that instead of depending on the GSP+ agreement, Pakistan must strive to become competitive on a level-playing field with other nations. He highlighted the growing significance of artificial intelligence, cloud computing and software as key drivers of Pakistan’s growth in the global economy. He also pointed out a concerning trend, noting that a large number of Pakistanis had left the country in the past year. Of these, around 25,000 individuals had probably moved substantial capital abroad to seek citizenship by investment. He stressed the need to reverse this brain drain and the flight of capital in order to retain the country’s human and financial resources.