NAB chief warns of capital flight as Pakistanis move funds abroad

National Accountability Bureau (NAB) Chairman retired Lt Gen Nazir Ahmed Butt on Wednesday expre­ssed concern over the increasing number of Pakistanis leaving the country, warning that around 25,000 individuals may have transferred substantial capital abroad to obtain citizenship by investment. Speaking at the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday, retired Lt Gen Butt stressed the need to curb both brain drain and capital flight to retain Pakistan’s human and financial resources. Discussing Pakistan’s global economic standing, he emphasised that the country must focus on improving its competitiveness rather than relying on trade agreements such as the European Union’s GSP+ preferential tariff scheme. He highlighted the growing importance of artificial intelligence, cloud computing and software in driving Pakistan’s economic growth.