Chief of Army Staff (COAS) General Syed Asim Munir met with Karachi’s business leaders during a visit to the city, where they discussed key economic issues and ongoing efforts to bolster Pakistan’s economy.
Addressing the gathering, General Munir reminded the business community of his previous message from a year ago, where he emphasized not to lose hope in the face of challenges. “I had told you all not to despair, as despair is a sin. Never lose hope for Pakistan’s prosperity,” he remarked, adding that collective efforts have successfully countered attempts to spread pessimism within the society.
General Munir emphasized the potential of Pakistan’s resources, stating that the country is capable of securing its rightful place in the global economy through its own efforts. He praised the country’s abilities across various sectors and pointed out the positive economic impact of curbing smuggling along Pakistan’s western borders. These efforts, according to the army chief, have brought tangible benefits to the national economy.
The army chief also acknowledged the role of Pakistan’s international allies, especially China, Saudi Arabia, and the United Arab Emirates, in supporting the country’s economic recovery. He highlighted the growing confidence of global companies in Pakistan’s economic prospects, citing significant investments by international firms such as Google and Starlink as a promising sign for the future.
General Munir commended the contributions of the business community, crediting them for their vital role in supporting the country’s economic progress. He urged the community to continue playing its part in strengthening Pakistan’s economy, assuring them that their concerns would be prioritized and addressed. “Everyone should have unwavering faith in the bright future of Pakistan,” he stated, encouraging collaboration between the business sector and the government.
During the session, General Munir reaffirmed the military’s commitment to eliminating illegal activities that undermine economic stability. He assured the business community in Karachi that the army would take decisive action to ensure a stable and conducive environment for business and economic growth.
The meeting lasted for over four hours, with more than 100 prominent businessmen participating in discussions with General Munir. Key topics included ways to stimulate business growth, and several major announcements were made aimed at boosting the economy.
In a conversation with Samaa TV, some traders shared that General Munir had provided “good news” regarding the country’s economic outlook. One of the key announcements was a plan to reduce interest rates to single digits by next year, which was welcomed by the business community. Additionally, the army chief mentioned that electricity prices would be lowered as early as the following month, addressing a critical concern for both businesses and consumers.
Another important issue raised during the meeting was the repatriation of funds held abroad by Pakistani traders and businesspeople. General Munir encouraged them to bring their investments back to Pakistan to help stimulate the local economy. In response, the business community proposed an “amnesty” scheme to facilitate the return of these funds and encourage investment in the country.
The COAS also urged the business community to prepare for new industrial ventures that would strengthen the economy, calling for greater cooperation between the public and private sectors. He mentioned that discussions were ongoing with the political leadership about the creation of new provinces to enhance administrative efficiency and provide opportunities for fresh leadership.
Expressing the military’s commitment to Karachi, General Munir said, “Our hearts beat for Karachi,” emphasizing the army’s dedication to the city’s development. He also highlighted that businesses operated by the military contribute approximately Rs 400 billion annually to the national exchequer.
During the meeting, businessman Arif Habib proposed the idea of separating the construction and real estate sectors to enhance the focus and efficiency of each. The suggestion was well-received and discussed as part of broader measures to stimulate economic growth.
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