- They are required to be mentored, guided and encouraged by our banks and concerned financial institutions, said President Alvi.
KARACHI: President Arif Alvi on Saturday said Pakistan was getting stronger on the basis of steady improvement in its economy and social indicators ought to expedite rebuilding its contacts with the world.
"Good Brand Pakistan has to be projected as we, after paying a heavy cost, have come out of the polarization," he said emphasizing need to restore country's perception as a vibrant and moderate society on solid lines.
Addressing 3rd Financial Crime Summit here he said, "Its impression was tarnished by the enemies and we have to restore it through concerted and collective efforts," said the President.
The event with the theme "Pakistan's Regtech - Shoulder to Shoulder with the Government's vision of addressing Terrorist Financing and Financial Crime," was jointly organized by different private sector financial entities of the country, attended by the representatives of concerned public sector institutions.
President Alvi reminding the fact that Pakistan has been able to comply with 24 of the 27 FATF conditions, prerequisite to help country getting out of the gray list, referred to the propaganda it has been subjected to in the international arena.
About steps taken by the government to address the issue of financial crime and its challenges, he said, no country could afford to buckle down before the menace and did require strong institutions equally secured for the benefit of its people.
President Alvi said the scenario has led to opportunities leading towards the vibrant digitization of financial sector of the country. He said it has been proves as a fast way paving for a digitized economy that would help in its documentation.
Mentioning that Pakistan with the series of corrective initiatives at macroeconomic level, has been able to put the economy in growth mode, he said, this has effected the purchasing power of the masses.
Poverty, identified as a root-cause of this menace, was said to be taken head-on by the government with a direct impact on the people pertaining to low socio-economic strata.
"Ehsaas Program is an example with Rs.200 billion plus disbursement with not a single complain of any misappropriation," said President Alvi mentioning that major beneficiaries of the said programme were women.
"Government is encouraging women to be truly empowered," he said mentioning that women constituting 52 percent of the country's total population were non-registered contributors to the economy.
Meaningful efforts were made in bringing them to register for the programme through series of initiatives including discounts in loans procured by them.
"This is unfortunately not being duly publicized," he said mentioning that the facility was also available to other relevant sections of the society which, but demanded an environment giving environment of confidence to approach them and avail the facility.
"They are required to be mentored, guided and encouraged by our banks and concerned financial institutions," said President Alvi.