ISLAMABAD: Acknowledging the fact that Pakistan was going through a severe economic crisis, Prime Minister Imran Khan on Tuesday invited attendees at a key investment conference in Riyadh to invest in the country and reap benefits.
Highlighting investment opportunities — specifically in the tourism and mining sectors — PM Khan, along with his key cabinet ministers, talked about the issues plaguing his government at the Future Investment Initiative (FII) conference, also known as “Davos in the desert”.
According to Pakistan’s state-run radio, PM Khan said that his government had inherited a huge burden of current account and fiscal deficits and was working on different fronts to resolve the financial crunch.
He told the conference that his government was approaching the International Monetary Fund (IMF) and friendly countries to seek loans and plug the financial gap.
“The government is also endeavoring to reform our institutions to check the menace of corruption in mega development projects and white collar crimes,” Radio Pakistan said quoting the prime minister.
He also assured participants at the conference that his government would create an environment that was conducive for doing business in the country, to attract foreign entities — particularly overseas Pakistanis — to invest in various projects in the country.
Earlier on Tuesday, Pakistan’s Federal Minister for Information Chaudhry Fawad Hussain, who is part of the delegation accompanying PM Khan on his visit, tweeted that the amount of respect that is accorded to PM Khan by the Kingdom shows how much importance is being given to the premier by the Muslim community.
As part of his two-day visit to Saudi Arabia, PM Khan began his trip from Madinah, following which he traveled to Riyadh to participate in the FII conference.
PM Khan and his coterie of officials arrived in Madinah on Monday night where they were received by Governor Faisal bin Salman bin Abdulaziz Al Saud. The group prayed together at the Prophet’s Mosque in Madinah before heading to Riyadh to attend the conference.
Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Adviser to the Prime Minister on Commerce Abdur Razak Dawood and several other officials are part of the delegation accompanying the prime minister.
As part of his visit, PM Khan is also expected to call upon King Salman and Crown Prince Muhammad Bin Salman.
PM Khan seeks investment at ‘Davos in the desert’
PM Khan seeks investment at ‘Davos in the desert’
- Promises to create a conducive environment for doing business in Pakistan
- Addresses Islamabad’s economic issues at key conference in Riyadh
Two Pakistani men indicted in $10 million Medicare fraud scheme in Chicago
- Prosecutors say defendants billed Medicare and private insurers for nonexistent services
- Authorities say millions of dollars in proceeds were laundered and transferred to Pakistan
ISLAMABAD: Two Pakistani nationals have been indicted in Chicago for allegedly participating in a $10 million health care fraud scheme that targeted Medicare and private insurers, the US Justice Department said on Thursday.
A federal grand jury charged Burhan Mirza, 31, who resided in Pakistan, and Kashif Iqbal, 48, who lived in Texas, with submitting fraudulent claims for medical services and equipment that were never provided, according to an indictment filed in the US District Court for the Northern District of Illinois.
Medicare is the US federal health insurance program primarily serving Americans aged 65 and older, as well as certain younger people with disabilities.
“Rooting out fraud is a priority for this Justice Department, and these defendants allegedly billed millions of dollars from Medicare and laundered the proceeds to Pakistan,” Deputy Attorney General Todd Blanche said in a statement.
“These alleged criminals stole from a program designed to provide health care benefits to American seniors and the disabled, not line the pockets of foreign fraudsters,” he added. “We will not tolerate these schemes that divert taxpayer dollars to criminals.”
Prosecutors said that in 2023 and 2024, the defendants and their alleged co-conspirators used nominee-owned laboratories and durable medical equipment providers to bill Medicare and private health benefit programs for nonexistent services.
According to the indictment, Mirza obtained identifying information of individuals, providers and insurers without their knowledge and used it to support fraudulent claims submitted on behalf of shell companies. Iqbal was allegedly linked to several durable medical equipment providers that filed false claims and is accused of laundering proceeds and coordinating transfers of funds to Pakistan.
Mirza faces 12 counts of health care fraud and five counts of money laundering. Iqbal is charged with 12 counts of health care fraud, six counts of money laundering and one count of making a false statement to US law enforcement. Arraignments have not yet been scheduled.
Three additional defendants, including an Indian, previously charged in the investigation, have pleaded guilty to federal health care fraud charges and are awaiting sentencing.
An indictment contains allegations, and the defendants are presumed innocent unless proven guilty in court.
