Defense Minister Khawaja Muhammad Asif stated that Pakistan would not need the International Monetary Fund (IMF) if half the country’s corruption ended. He made this statement while addressing the Sialkot Chamber of Commerce.
Khawaja Asif assured the industrial community that he understands their challenges. He acknowledged that the country is in a tough economic phase. However, he said there is hope as economic indicators are improving.
The defense minister noted that Pakistan is slowly coming out of despair. He said the stock market is performing well, and other indicators are showing positive results. Inflation has reduced to single digits, he added.
Despite the progress, Khawaja Asif admitted that many obstacles remain. He explained that economic constraints often force painful decisions. He said some decisions cannot be made due to unavoidable circumstances.
Large-Scale Smuggling Highlighted
The minister pointed out widespread smuggling of non-custom paid vehicles. He expressed concern over the loss of distinction between lawful and unlawful practices.
Corruption in Previous Regime
Khawaja Asif alleged massive corruption during the previous government. He shared that Chaudhry Pervaiz Elahi revealed shocking examples. He said a bureaucrat earned 4 billion rupees as “gifts” during his daughters’ weddings. Another customs officer was involved in millions worth of corruption, he claimed.
The defense minister stressed the harmful effects of corruption. He said that if 50% of corruption is eliminated, Pakistan can avoid seeking IMF support.
Calls for Accountability
Khawaja Asif urged all sectors to prioritize accountability. He emphasized the importance of addressing corruption for economic stability.
He expressed optimism about Pakistan’s economic future. The minister said time will gradually resolve challenges. He encouraged businesses to remain hopeful and patient.
Khawaja Asif concluded by stressing the need for reform. He called for efforts to improve governance and curb corruption at all levels.
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