Islamabad: Minister of Defense Khawaja Asif has stated that corruption in the country has reached alarming levels and that eliminating just 50% of it would negate the need for loans from the International Monetary Fund (IMF). He emphasized that such a step would steer Pakistan toward sustainable development.
Addressing the Sialkot Chamber of Commerce and Industry, Khawaja Asif highlighted the economic challenges faced by the country, noting that Pakistan has been grappling with IMF-imposed conditions for the past year. He stressed that internal stability is crucial for economic recovery, adding that a 9% reduction in the policy rate is expected to improve the situation.
The minister pointed out that regional issues have a significant impact on Pakistan’s economy. However, he praised Sialkot’s unique culture of private-public partnerships, citing the establishment of the city’s privately funded airport and airline as unparalleled achievements globally.
Khawaja Asif also shared insights from his recent role as the head of the port shipping task force, highlighting inefficiencies in logistics. “Operating a single container takes six hours, and trackers are often removed from vehicles and reinstalled on others,” he noted.
On a positive note, the defense minister shared encouraging news for the aviation sector. He revealed that starting next year, Air Sial, Air Blue, and Fly Jinnah will be granted landing rights at all airports in Dubai, marking a significant milestone for Pakistan’s airlines.
Khawaja Asif reiterated his commitment to addressing the concerns of the business community and fostering a stable economic environment to propel Pakistan toward progress.
