New Ordinance to protect business community from NAB, says PM Imran

Prime Minister Imran Khan on Friday announced the passage of a new ordinance which will “insulate the business community” from the scrutiny of the National Accountability Bureau (NAB).

The premier’s announcement came during an awards ceremony of the Pakistan Stock Exchange at the Governor House in Karachi to which he had been invited as the chief guest.

The prime minister said that the business community had always expressed their fear of the institution when they met with him, as it was “free to probe anyone”.

“It is our contention that NAB should engage in scrutiny of public office holders only. For the business community, there is the FBR (Federal Board of Revenue) and other institutions as well as the courts.”

He said it was important to have taken this step because “NAB had become a major hurdle in the way of the business community”.

The premier assured the business leaders present that the government’s economic team will always be available to assist them and that he will continue to meet with them as he does, at least every once in two months.

He said that the state will not only ensure that its citizens are provided dignity, it will ensure the implementation of “equal justice for all”.

These are the two principles on which an ordinary country can become a great one, he said, adding that the state of Madina provides the perfect example to learn from as it lead on all fronts, whether scientific or business.

“The more we concentrate on why Pakistan was created, the clearer our roadmap ahead will be. Whether it is business or our foreign policy, the roadmap lies in the country’s vision.”

The prime minister said Pakistan was envisioned on the same founding principles on which the state of Madina was created. He said the business community plays a very important role in the realisation of this vision.

“Business creates wealth and a country cannot advance until there is wealth creation,” said PM Imran.

“Wealth creation is only possible when the business community prospers,” he said, adding that it was the government’s task to facilitate them with “ease of doing business”.

“It was a great feat for us that despite having inherited a bad economy, with institutional collapses all around, we were able to jump 28 points up on the ease of doing business index of the World Bank,” said the premier.

The premier regretted that profit-making was misconceptualised in the country and confused with profiteering over the past few decades. “We want people to make money […] we will see that there is ease in doing business.”

He said the path to progress had begun after a difficult period in the first year of the government’s rule. “But the rupee has stabilised now and investers have confidence. 2020 will be the year of growth now.

“We will especially focus on small and medium enterprises. We continue to devise ways on how to serve them better,” said PM Imran.

The premier also spoke of how tourism can facilitate job creation, especially with Pakistan being recently ranked as the number one holiday destination by Condé Nast. He said this will facilitate job creation for the youth and will bring in much-needed foreign exchange.

“This is potentially a very big avenue which we have yet to fully explore.”

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