By Commerce Reporter
LAHORE: The Pak International Business Forum (PIBF) has welcomed the efforts of Federal Interior Minister Mohsin Naqvi to encourage Pakistani businessmen to repatriate their overseas assets and invest in the domestic economy. However, the forum emphasized that such initiatives must be supported by transparent, credible, and incentive-based policies to yield meaningful results.
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In a joint statement, PIBF President Dr Mushtaq Mangat and Secretary General Muhammad Ejaz Tanveer stated that while the call for bringing back capital is a positive development, it must be complemented with a comprehensive incentive package. This should include tax relief, protection of investments, and policy consistency to facilitate and encourage overseas Pakistanis to channel their wealth into productive sectors of the economy.
The PIBF leadership further urged the federal government, particularly the Interior Ministry, to disclose the names of politicians and bureaucrats holding significant assets abroad. “Before expecting the business community to respond, the government must demonstrate sincerity by ensuring transparency and accountability of public office holders,” they said.
They stressed that alongside repatriation efforts, the government must actively mobilize local investors to invest in Pakistan’s production sector. “Encouraging domestic investment in industry, manufacturing, and value-added sectors will not only strengthen the economy but also send a positive signal to foreign investors,” the statement noted.
According to PIBF, a strong and vibrant domestic investment environment is a prerequisite for attracting foreign direct investment (FDI). When local investors show confidence in their own economy, it significantly enhances the country’s credibility in the eyes of international stakeholders.
Dr Mangat and Ejaz Tanveer reiterated that the government must also take visible steps to identify and repatriate illegitimate foreign assets held by influential individuals through a fair and across-the-board accountability mechanism.
The forum concluded that a combination of transparency, incentives, and pro-investment policies can help restore confidence, stimulate economic activity, and pave the way for sustainable growth.
