Today: 6 May 2025
11 February 2024
1 min read

Pakistani Tycoons Shift to Dubai Amid Uncertainty

Analysts urge prompt government formation in Islamabad to tackle uncertainties, emphasizing urgent economic reforms ahead…reports Asian Lite News

During the past 20 months, Pakistani businessmen and rich individuals have not only been investing heavily in Dubai’s real estate but also establishing export-import trad­ing houses there, media reported.

“This is not a surprise that the Pakistanis have been investing in the real estate of Dubai but important is the establishment of trade and business houses by Pakistanis,” said Anwar Khawaja, a Karachi-based investor having businesses in Dubai also.

“Many big business tycoons in Pakistan have partially or fully shifted their business to Dubai depriving the country of income and jobs,” he said. However, he said many have justification.

The political and economic uncertainties along with the deteriorating law and order situation frightened the business community who regularly pay ‘extortion money’ to one or another group in Karachi, Dawn reported.

He said top business families are permanently living in Dubai, purchased houses and established trade with foreign countries. They also operate as a base for the trading of Pakistani goods; exports and imports to other countries, Dawn reported.

“This is easy to do trade from Dubai since there is no problem with opening accounts for exports or imports. They earn and invest in Dubai particularly the real estate is the paradise for making money,” he said.

While several analysts suggested for immediate formation of a new government in Islamabad, as the only way to get rid of uncertainties, others said the new government would have to work on war footing to improve economic indicators, Dawn reported.

ALSO READ: US threatening to tear Delhi away from Moscow, says envoy

Previous Story

Shastri Identifies Kohli as Test Cricket Flagbearer

Next Story

NATO chief calls on Europe to ramp up arms production

Latest from -Top News

UAE Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

India Rises, Africa Watches 

While struggling economies in Africa engulf themselves in ideological battles and take sides in the tariff battles, nations like India are placing their national interest first and navigating Global Trade challenges in

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of
Go toTop

Don't Miss

177 DEWA employees contributed 46,560 voluntary hours to Expo

They also participated in organising activities and events such as

Pakistan in Turmoil as Protests Escalate Amid IMF Dependency

Pakistan’s Interim Finance Minister Shamshad Akhtar has said that the