Chairman National Accountability Bureau (NAB), Lt. Gen. (Retd) Nazir Ahmed Butt, while assuring the business community of maximum relief in dealing with irrational cases, 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), Chairman NAB, while highlighting NAB’s efficiency, informed that out of 14 cases of the business community, 13 were resolved within six months, showcasing NAB’s dedication to resolving matters swiftly. He encouraged KCCI to submit five general cases along with five to six individual cases, which would be prioritized by NAB for resolution so that relief could immediately be provided to the distressed members of the business community.

Director General NAB Javed Akbar Riaz, Chairman Businessmen Group Zubair Motiwala, President KCCI Muhammad Jawed Bilwani, Senior Vice President Zia ul Arfeen, Vice President Faisal Khalil Ahmed, Former Presidents KCCI Iftikhar Ahmed Sheikh, Majyd Aziz, Abdullah Zaki, Iftikhar Ahmed Vohra, Shamim Ahmed Firpo, Junaid Esmail Makda, Muhammad Idrees, Central Chairman PHMA Muhammad Babar Khan, President North Karachi Association of Trade & Industry Faisal Moiz and KCCI Managing Committee Members along with Senior NAB Officials were present at the meeting.
Responding to concerns from the business community, Chairman NAB assured that under his leadership, the culture of fear and harassment had been completely eradicated at NAB. “New rules to prevent harassment of businessmen have been instituted at NAB” he said, adding that NAB’s Businessmen Facilitation Desk will be enhanced by including members from KCCI, ABAD, and other relevant institutions.

He stressed the need for an enabling business environment and a level playing field, which NAB 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.

Chairman NAB 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, Chairman NAB 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.

Chairman NAB 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 to retain the country’s human and financial resources.

Speaking on the occasion, Chairman BMG Zubair Motiwala, while acknowledging the positive changes initiated by Chairman NAB since taking charge, pointed out that significant work remains to be done, particularly in combating corruption and harassment, which continues to drive people to leave Pakistan.

He praised Pakistan’s recent economic improvements, such as the stock market reaching new heights and the rise in IT exports. However, he expressed concerns over the trust deficit among the business community, which still hinders full economic recovery. He emphasized that Pakistan’s IT sector has the potential to reach $30 billion in exports, but this potential was being undermined due to harassment by numerous departments.

Motiwala also raised concerns about the impact of budgetary measures on exporters, particularly the ending of the Final Tax Regime (FTR) and its replacement with the normal tax regime. He called for NAB’s intervention to review delays in export cargo processing and for establishing a facilitation desk at KCCI to address NAB-related issues.

KCCI President Muhammad Jawed Bilwani noted that the business environment in Pakistan had deteriorated, with many multinational companies leaving Karachi. Bilwani raised several issues, including land grabbing and delays in land possession at Port Qasim, which had been ongoing for over two decades. He requested NAB’s intervention to resolve these long-standing issues and provide relief to affected landowners.

Bilwani also raised the issue of delayed sales tax refunds, which have created severe liquidity issues for businesses. He emphasized that the timely release of these refunds would enable businesses to expand and create more jobs, benefiting the economy as a whole. Bilwani further expressed the hope that NAB’s involvement would resolve the issues faced by the business community and help restore investor confidence in Pakistan’s economy.