KARACHI – Interior Minister Mohsin Naqvi on Tuesday urged the business community to repatriate a portion of overseas-held wealth, estimating that nearly $100 billion has been moved out of the country over the past three to four years. Addressing business leaders in Karachi, the minister said that if traders act decisively, up to $10 billion could return to Pakistan before the upcoming budget.
He encouraged investors to utilise existing financial channels, including Roshan Digital Accounts, to bring back between 20-30 per cent of their offshore funds. Naqvi assured the business community that the government would provide a more conducive and business-friendly environment, emphasising that Pakistan offered some of the highest returns on investment globally.
“If you invest in Pakistan, the level of profit available here is unmatched anywhere in the world,” he said.
Special Passport for Businesspersons
The minister revealed that a proposal was being prepared to introduce a special passport for genuine businesspersons, similar to official and diplomatic passports. The proposal would soon be presented to Prime Minister Shehbaz Sharif. “The initiative aims to ease visa-related challenges faced by legitimate traders, particularly for travel to countries such as China, the United States, Europe, and the United Kingdom,” he added.
FIA Reforms
Highlighting governance reforms, Naqvi said the Federal Investigation Agency (FIA) would be made more business-friendly, stressing that the entire business community should not suffer due to the actions of a small minority. However, he warned that strict action would be taken against those involved in illegal money transfers.
Crackdown on Money Changers
He acknowledged concerns regarding the role of money changers, stating that several major transaction groups in Karachi had already been identified and would face action without leniency.
Analysis: A Push for Capital Repatriation
Interior Minister Mohsin Naqvi’s call for the repatriation of offshore wealth is a significant policy push. The estimate that nearly $100 billion has moved out of Pakistan in just three to four years is staggering, representing a massive drain on the country’s potential for investment and growth.
The target of bringing back $10 billion before the budget is ambitious. Achieving it would require not only the government’s assurances but also a credible commitment to economic stability, rule of law, and a predictable regulatory environment. Investors who have moved funds abroad did so for reasons — and those reasons need to be addressed.
The proposal for a special passport for genuine businesspersons is an interesting incentive. Easing visa-related challenges could facilitate international travel for legitimate traders, potentially encouraging them to keep their base of operations — and their funds — in Pakistan.
The warning about illegal money transfers and the crackdown on money changers is a double-edged sword. While it is necessary to crack down on illegal activities, the government must ensure that legitimate businesses are not caught in the dragnet.
Naqvi’s message is clear: Pakistan offers high returns, and the government is willing to provide a conducive environment. But the business community will need more than assurances. They will need to see concrete action — on economic stability, on rule of law, on the ease of doing business — before they bring their money back.
