Islamabad: National Accountability Bureau (NAB), Chairman Lt. Gen. (R) Nazir Ahmed, stated that the bureau has recovered an impressive amount of Rs. 2.3 trillion and generated over US $10 billion in savings for the national exchequer.

Speaking at an event on Saturday at NAB Headquarters in Islamabad, commemorating “International Anti-Corruption Day” with the theme “Documented Economy Curbs Corruption,” he emphasized that combating corruption requires collective effort. NAB is dedicated to ensuring that every instance of corruption faces consequences.

Lt. Gen. (R) Nazir Ahmed, emphasized that the eradication of corruption requires collective efforts from all stakeholders, as no single institution can accomplish this task alone. He reaffirmed NAB’s commitment to ensuring that every instance of corruption faces consequences.

The Chairman asserted that the documentation of the economy will undoubtedly benefit the country and significantly reduce corruption. He reiterated NAB’s commitment to fulfilling the obligations outlined in the United Nations Convention against Corruption (UNCAC).

Prominent economist and Director General of NUST Institute of Policy Studies (NIPS) Dr Ashfaque Hasan Khan and Country Representative of United Nations Office on Drugs & Crime (UNODC) Pakistan Jermey Milsom, attended the event as guest speakers.

Dr Ashfaque Hassan Khan, in his keynote speech, stated that it is the responsibility of every citizen to get registered in the taxation system so that they can get welfare benefits from the State.

He mentioned that individuals in the informal/unregistered economy often experience poverty due to a lack of access to banking incentives, including loans. He stressed that restructuring the tax system to provide incentives would be more advantageous than relying on punitive measures.

Earlier,Nauman Aslam, Director General of the Awareness & Prevention (A&P) Division at NAB Headquarters, provided an overview of the significance of observing Anti-Corruption Day and highlighted the A&P Division’s role in raising awareness about the detrimental effects of corruption.

The Chairman also recognized and honored NAB officers with Merit and appreciation Certificates for their exceptional performance in their respective domains.

Karachi: The price of 24 karat gold registered a notable decrease, dropping by Rs.3,000 and settling at Rs.215,600 in the country on Saturday.

 This is in contrast to its previous rate of Rs.218,600 on the last trading day.

Similarly, the price of 10 grams of 24 karat gold saw a decline of Rs.2,572, reaching Rs.184,842 from its previous value of Rs.187,414. Besides it, the price of 10 grams of 22 karat gold decreased to Rs.169,439 from Rs.171,786, as reported by the All Sindh Sarafa Jewellers Association.

In terms of silver, the prices for per tola and ten grams remained stable at Rs.2,600 and Rs.2,229.08, respectively.

Internationally, the gold market experienced a decline of $26, marking a shift from $2,050 to $2,024, according to the Association's report. The fluctuations in gold prices continue to be closely monitored, reflecting both global and local market dynamics.

Islamabad: A group of representatives from leading investment banks, funds and institutional investors here on Saturday called on Caretaker Minister for Privatization Fawad Hasan Fawad and discussed matters related to investment possibilities in the country.

The group was organized by Trans-National Research Corporation and included representatives from Fidelity Investments, Morgan Stanley Investment Management, Barings and William Blair Investment Management, said a press release.

The minister briefed the group on the vision of the present government on investment and privatization of State Owned Enterprises as well as the working of the Privatization Commission and the current agenda of privatization.

The process and expectations for the privatization of PIACL, Roosevelt Hotel, FWBL and HBFC were discussed.

The minister responded to all the queries of the representatives regarding the current privatisation agenda and process as well as future investment opportunities. The representatives were encouraged to explore the opportunities for possible investment in Pakistan. The group appreciated the initiatives taken and expressed that the work being done will result in a conducive environment for investment in Pakistan.