In a significant meeting held in Karachi, more than 100 prominent businessmen engaged in discussions with Chief of Army Staff (COAS), General Asim Munir, which lasted for four and a half hours.
The session focused on pressing economic challenges and ways to stimulate business growth, with key announcements aimed at boosting the country’s economy.
The traders, in a conversation with Samaa TV, shared the positive outcomes of the meeting. They revealed that the Army Chief had shared “good news” regarding the country’s economic future, announcing a plan to bring down interest rates to single digits by next year.
Additionally, General Munir informed the attendees that electricity prices would be reduced as early as next month, bringing much-needed relief to businesses suffering from high operational costs.
One of the key topics discussed was the repatriation of money held abroad by Pakistani traders and businesspeople. The Army Chief urged them to bring back their investments to help stimulate the local economy. In response, the traders advised that an "amnesty" scheme should be introduced to facilitate the return of funds and encourage investment within the country.
During the meeting, General Munir encouraged the business community to prepare for new industrial ventures. He emphasized the importance of building new industries to strengthen the nation’s economy and called for cooperation between the government and the private sector.
The Army Chief further mentioned that dialogues are ongoing with political leadership regarding the creation of new provinces, which he believes will improve administrative efficiency and bring forth new leadership.
Reaffirming the military’s commitment to Karachi, General Munir stated, “Our hearts beat for Karachi,” and stressed that the military remains dedicated to supporting the city’s development. He also highlighted that business enterprises run by the military contribute around Rs 400 billion annually to the national treasury.
During the meeting, prominent businessman Arif Habib proposed the idea of separating the construction and real estate sectors to enhance the efficiency and focus of each industry. The proposal was welcomed and discussed as part of broader measures aimed at stimulating economic growth.
