Chief of Army Staff (COAS) General Asim Munir pledged to bring transparency to the dollar and interbank exchange rates during a meeting at the Lahore Corps headquarters. The COAS announced plans to regulate money exchanges through taxation to foster transparency in financial markets. Additionally, General Munir highlighted the newly formed task forces and the potential of the Special Investment Facilitation Council (SIFC) to attract substantial foreign investments, targeting up to 100 billion dollars from countries including Saudi Arabia, UAE, and Kuwait.
In the same meeting, Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar, alongside other key business figures and Interim Chief Minister Syed Mohsin Naqvi, voiced concerns about the nation’s economic direction. Addressing issues burdening the public, Anwar suggested reducing electricity taxation and altering fuel adjustment charges’ timing to ease the financial strain on consumers. He urged more control over US dollar rates and emphasized the need for ongoing dialogue between the business sector and relevant authorities.
Anwar also proposed an innovative approach to integrate the grey economy into the formal sector as a strategic solution to enhance the tax base and foster economic growth. Furthermore, he called for a unified political commitment towards economic stability, recommending the endorsement of a ‘charter of economy’ before the forthcoming elections. This charter is envisaged as a tool to ensure responsive and collaborative governance, particularly in implementing suggestions from the business community.