Pakistan’s Interior Minister Mohsin Naqvi has urged the business community to bring back a portion of their funds held abroad. He stated that this step could help improve Pakistan’s economic stability and strengthen foreign exchange reserves.
20 to 30% Funds Repatriation Appeal
According to reports, Mohsin Naqvi appealed to traders and businessmen to repatriate at least 20–30% of their overseas wealth to Pakistan. He suggested that collective action by the business community could result in significant capital inflows into the country.
Focus on Economic Stability
The main objective of this appeal is to support Pakistan’s foreign exchange reserves during ongoing economic challenges. The government aims to reduce external financial pressure and improve overall macroeconomic stability through increased inflows.
Engagement with Business Community
Naqvi made these remarks during meetings with business leaders. He emphasized the importance of trust and cooperation between the government and the private sector to address economic challenges effectively.
Potential Billion Dollar Impact
He further noted that if a substantial portion of overseas funds is brought back, it could generate billions of dollars in liquidity. This would not only strengthen reserves but also improve investor confidence and economic sentiment.
Voluntary Appeal Not Mandatory Policy
It is important to note that this is a voluntary appeal, not a compulsory policy or law. The government is encouraging businesses to consider investing their capital in Pakistan to support long-term economic growth and stability.
