KARACHI: Chairman of National Business Group Pakistan, Mian Zahid Hussain said that the disclosure of Pakistanis’ properties worth eleven billion dollars in Dubai is not surprising.
He added that investors don’t care about democracy, dictatorship, or monarchy; they only care about the investment environment. He said that money, whether black or white, turns in a direction where it remains safe and can grow.
He stated that our authorities have attempted to obtain the details of Pakistanis’ properties in Dubai, but they have failed. However, now that the FATF has made UAE officials less inclined to conceal the investment’s details, Dubai Leaks teaches us that the best places to invest are those with strong law and order, easy business, and a preference for the rule of law.
In Dubai, new mega-scandals do not occur daily, like in Pakistan, and there is no practice of establishing false cases against people on political grounds. He asserted that Dubai strictly enforces the law, does not practice extortion, does not kidnap businessmen, and does not send them false tax notices. These factors have made Dubai a paradise for tourists and investors, according to Mian Zahid. Due to tourism and investment, its resources and regional and global influence are continuously increasing, and a powerful nuclear country like Pakistan is often asking it for funds.
Mian Zahid said that the conditions in India, Great Britain, and many other countries are much better than in Pakistan. Residents of these countries have also invested heavily in Dubai, indicating that they see Dubai’s overall environment as superior to their own country. Investors are confident that their capital will grow rapidly in Dubai and remain safe.
He further said that Pakistan is among the most profitable countries in the world, but despite this, its own people are investing outside the country because they do not trust their country and its system and do not consider it safe. Pakistani authorities should improve the atmosphere of trust in their country, put the mafia in control, and make laws and a justice system according to international standards so that the rich can invest in their country instead of roaming around the world.
Copyright Business Recorder, 2024