In a decisive move aimed at curbing the $10 billion annual loss from money laundering, Prime Minister Imran Khan has initiated the largest-ever crackdown in Pakistan’s history.
Speaking to economic journalists alongside Information Minister Fawad Chaudhry and Finance Minister Asad Umar, PM Khan outlined a comprehensive plan to tackle the pervasive issue.
Acknowledging the economic challenges faced by the nation, PM Khan emphasized the need for swift action against money laundering, attributing the economic instability to past mismanagement. He highlighted the importance of international assistance packages from key allies like the United Arab Emirates, China, and Saudi Arabia, signaling a positive turn for Pakistan’s economy.
Addressing concerns about IMF conditions, PM Khan expressed confidence in the improving relations with global powers, ensuring smoother negotiations with the IMF. He stressed the government’s commitment to shielding the most vulnerable segments of society from the repercussions of economic reforms while introducing robust poverty alleviation programs.
PM Khan underscored the significance of wealth creation for resolving Pakistan’s economic woes, advocating for a shift in mindset towards investors. He outlined plans to enhance remittances and boost economic growth through export-oriented and productivity-led models, emphasizing sustainable development over reliance on loans.
Finance Minister Asad Umar echoed PM Khan’s sentiments, emphasizing the need for structural reforms to stimulate economic growth. He assured that Pakistan’s alignment with the IMF’s objectives while addressing the pace and sequencing of reforms, ensuring a balanced approach towards economic stability.
PM Khan also addressed the fiscal challenges posed by the 18th amendment, calling for a review of the fiscal relationship between the federal and provincial governments. He emphasized the importance of collaborative efforts to streamline fiscal responsibilities and ensure effective governance.
Prime Minister Imran Khan’s proactive stance against money laundering reflects his commitment to revitalizing Pakistan’s economy and restoring its sovereignty. With strategic reforms and international support, Pakistan is poised to overcome its economic challenges and embark on a path of sustainable growth under PM Khan’s leadership.
