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Friday, April 19, 2024  
09 Shawwal 1445  

Army chief tells businessmen he will bring $100 billion in investment

Reports of his meeting with the businessmen have now been confirmed
File photo.
File photo.

The reports of Army Chief General Asim Munir’s meeting with members of the business community have now been confirmed.

President Lahore Chamber of Commerce Kashif Anwar has been quoted as saying by multiple publications that the army chief told businessmen he hopes to attract up to $100 billion in investment from Saudi Arab, UAE and Kuwait along with other countries.

The army chief reportedly said that the investment would be brought through the Special Investment Facilitation Council.

He also made the revelation that multiple task forces have been set up to focus on different sectors of the economy.

The meeting was held at the Lahore Corp Commander House, according to Dawn newspaper. No official statement from the government or the ISPR was issued.

The businessmen complained to the army chief about the uncertainty that stems from the difference in the open market and the interbank rate of the dollar.

General Munir assured them that money exchanges would be brought into the tax net and transparency in exchange rates would be promoted, the report said.

Journalist Kamran Khan had earlier claimed that the meetings had taken place in both Karachi and Lahore.

Khan wrote on X, formerly known on Twitter, that the army chief has an ‘ambitious plan’ to put the economy on track including rapid privatisation and expanding the tax net.

“Gen Asim expected that a free judiciary will support the economic revival mission,” Khan wrote.

Former federal minister Fawad Chaudhry also praised COAS Munir for taking the business community into confidence, saying that his words are of much importance to restore stability in the financial markets.

“The Army Chief made the right decision to take the big businessmen of Lahore and Karachi into confidence. In the current times, the words of the Army Chief are important and only he can restore the confidence of business. It is hoped that business confidence will be restored through his conversation and will create stability,” he wrote on X.

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