KARACHI (Dunya News) – Interior Minister Mohsin Naqvi has urged Pakistan’s business community to bring back at least 30% of their overseas wealth, saying such a move could inject up to $10 billion into the economy before the upcoming federal budget.
Speaking at an event in Karachi, Naqvi said around $100 billion had been moved abroad over the past three to four years, stressing that even partial repatriation would significantly ease economic pressures.
His remarks come as Pakistan prepares to repay $3.5 billion to the United Arab Emirates this month after failing to secure a rollover of the debt for the first time in seven years. The repayment is expected to strain foreign exchange reserves, currently hovering near $16 billion—equivalent to roughly three months of import cover.
The minister noted that if the business community acts promptly, billions could return to Pakistan within weeks. He warned that authorities have the capacity to trace illicit financial flows if necessary but emphasised that the government is not focused on investigating past transfers at this stage.
Naqvi also reassured investors of improved business conditions, highlighting Pakistan’s potential for high returns. He said reforms are underway to make the Federal Investigation Agency more business-friendly and ensure that legitimate businesses are not penalised for the actions of a small minority.
He added that proposals to ease visa policies for traders would soon be presented to Prime Minister Shehbaz Sharif.
The interior minister also raised concerns about the role of money changers, suggesting they are often used for managing private funds rather than facilitating tourism-related transactions. He revealed that authorities have identified large financial movements by certain groups in Karachi and warned that strict action would follow.
Naqvi expressed optimism about improving Pakistan’s global standing, including efforts to enhance the ranking of the Pakistani passport.