Customs officials at Jinnah International Airport in Karachi intercepted more than 300 tolas of gold from a passenger and his family members arriving from Abu Dhabi. The individuals were unable to present valid documentation authorizing the transport of such valuables into Pakistan.
During routine scanning of their luggage and carry-on bags, customs officers detected the presence of gold and foreign currency. A thorough search uncovered a substantial amount of gold jewelry, including bangles and rings, totaling 281 tolas, alongside 20 tolas of gold bars. Additionally, authorities recovered $33,100 in US dollars and 366,000 UAE dirhams from the passenger.
The seized gold and currency have been confiscated, and a formal case has been registered against the passenger on charges of attempting to smuggle valuables into the country.
In a related development, Federal Minister for Board of Investment Qaiser Ahmed Sheikh expressed optimism about a significant influx of investment into Pakistan within the next 15 days. Speaking on a news program, Sheikh predicted that the ongoing conflict in Iran would conclude within two weeks, after which normal conditions would swiftly resume.
He highlighted Pakistan’s emerging stability amid regional turmoil, noting that many Pakistanis who had invested in Gulf countries, including the UAE, might repatriate their capital due to the instability caused by the conflict. Sheikh described the Middle East unrest as a “blessing in disguise” for Pakistan’s economy, emphasizing the need to offer appropriate incentives and reduce taxes to attract and retain investment.
Sheikh warned that without such measures, investments could be diverted to other destinations like Hong Kong. He urged the government to create a favorable environment to capitalize on the expected capital inflow and strengthen Pakistan’s economic position.
