Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Chambers & Associations

Corruption raises cost of doing business by at least 20 percent in Pakistan: Altaf Bawany

byCT Report
09/03/2018
in Chambers & Associations, Latest News, Pakistan Chambers
Share on FacebookShare on Twitter

KARACHI: Director General of National Accountability Bureau (NAB) Sindh Mohammad Altaf Bawany, while referring to a recent international research study, stated that the research report revealed that corruption raises the cost of doing business by 10 percent in many countries around the world but in Pakistan’s case, this corruption raises the cost of doing business by at least 20 percent.

Speaking at a seminar on “Role of Business Community in Curbing the Menace of Corruption”, he said, “All of us are somehow responsible for rising corruption in the country as we give bribe to the officers in order to get the work done at the earliest. Unfortunately in Pakistan, laws exists to deal with bribe seekers but no law has been devised so far to deal with bribe givers.”

You might also like

DG Valuation revises import values for polyester yarn amid war crisis vide VR No.2069/2026

21/04/2026

OICCI proposes 5pc cap on withholding tax, calls for reforms

21/04/2026

Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli, Vice Chairmen BMG, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Vice President KCCI Rehan Hanif, former Presidents Haroon Agar and Iftikhar Vohra along with KCCI managing committee members attended the seminar.

In order to completely eradicate corruption from the society, DG NAB stressed that jihad has to be carried out against corruption. “Jihad doesn’t mean we should go on war but we have to struggle against corruption”, he added.

Altaf Bawany advised that any honest businessman should not be scared after receiving summon from NAB which must immediately be responded. NAB takes action only when the individual fails to respond to the summon notices which are sent thrice by the Bureau prior to taking action.

Highlighting the functioning of the Bureau, he informed that NAB takes strict action against its own officers who are involved in any corruption or malpractice. In this regard, 35 officers have been expelled from NAB, of which many are still in jail.

DG NAB said that he was also against the Amnesty Scheme which was being introduced for recovery of taxes but if the income has been earned from illegal means, NAB has the right to take action against such individuals.

He informed that plea bargain is only carried out by NAB to recover funds which saves individuals from being sent to jail but they are considered as offenders who simply cannot hold any government for a period of 10 years and they also remain deprived from availing any financing from banks.

Chairman BMG & Former President KCCI Siraj Kassam Teli, in his remarks, stated that the honesty and truthfulness in front of everyone including the Prime Minister, the President or anyone else has led to the success of Businessmen Group which has been constantly winning KCCI’s election since last two decades.

Siraj Teli said, “Anyone approaching KCCI for help is fully assisted by the Office Bearers but, NAB must also understand that even if a leading businessman attempts to seek KCCI’s help for anything wrong or illegal, we never support such individuals. During all these years, we have never supported any thief or dishonest individual but have always fought for those who were facing genuine issues. As long as the Businessman Group stays in control of Karachi Chamber, we will never support any dishonest element.”

“Public Service and truthfulness have always been the first and foremost policy of Businessmen Group which is the only way to resolve all types of issues but unfortunately in our country, nobody dares to speak the truth and do not bothers to look beyond his personal interests, resulting in ruining the very fabric of our society”, Chairman BMG added while underscoring the need to be truthful and honest in order to pull the country out of ongoing crisis.

Referring to the amendments being made by the bureaucrats and policymakers, Siraj Teli said that these amendments are made to gain personal benefits whereas the taxation policies are devised in such a manner to harass the business and industrial community in order to earn as much as possible. Most of the laws devised are not for correcting the nation but to make sure that they get maximum money in their pockets by harassing and squeezing the business and industrial community through massive discretionary powers granted to FBR during the last five years.

He requested DG NAB to take the business and industrial community on board whenever NAB is dealing with issues related to any businessman or industrialist. “We don’t want 100 percent involvement but NAB has to be sure that they are doing the right thing and must ensure that no injustice is done to any honest person. NAB is free to take action against any dishonest businessman or industrialist but relevant information and evidence should be shared with Karachi Chamber and if these evidence are not deniable, the Karachi Chamber will stand along with NAB against such dishonest businessman or industrialist”, he added.

He also advised DG NAB to hold discussions with all the Chambers and Trade Associations across the province to identify the issues whereas maximum benefit of doubt should be extended to the business community in NAB cases.

Related Stories

DG Valuation revises import values for polyester yarn amid war crisis vide VR No.2069/2026

byCT Report
21/04/2026

KARACHI: The Directorate General of Customs Valuation, a division of the FBR, issued Valuation Ruling No. 2069/2026 on April 16,...

OICCI proposes 5pc cap on withholding tax, calls for reforms

byCT Report
21/04/2026

KARACHI: The Overseas Investors Chambers of Commerce and Industry (OICCI) has proposed capping withholding tax rates at 5%, urging the...

Zong launches Pakistan’s first 5G facilitation Kiosk at Islamabad Airport

byCT Report
21/04/2026

ISLAMABAD: Zong, Pakistan’s leading technology services enterprise, has set a new industry benchmark by launching the country’s first dedicated 5G...

LHC allows Rs11.2b cost equalisation adjustment deduction for SNGPL in tax dispute

byCT Report
21/04/2026

LAHORE: The Lahore High Court has ruled that the Cost Equalisation Adjustment claimed by Sui Northern Gas Pipelines Limited qualifies...

Next Post

Customs Appellate Tribunal remands back appeal in used machinery case

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.