Pakistani military rebuts report based on ‘misleading’ figures about army chief’s family wealth

In this picture taken on March 8, 2020, Pakistan Army Chief General Qamar Javed Bajwa and his wife are pictured at the Rawalpindi Cricket Stadium in Rawalpindi. (Photo courtesy: AFP/File)
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Updated 27 November 2022
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Pakistani military rebuts report based on ‘misleading’ figures about army chief’s family wealth

  • An investigative journalism website this month published wealth details of General Bajwa’s immediate and extended family
  • The report said General Bajwa’s became “billionaires” by setting up businesses and properties and shifting capital abroad

ISLAMABAD: The Pakistani military on Sunday rebutted a “sinister” campaign against the outgoing army chief, General Qamar Javed Bajwa, based on incorrect figures about his family’s wealth, saying the stats were “exaggerated on the basis of assumptions.”

The statement comes days after Fact Focus, an independent investigative journalism website, published wealth and tax details of members of Bajwa’s immediate and extended family, saying they had become “billionaires over the last six months” by establishing international businesses, shifting capital abroad, and buying foreign properties.

The report, citing the family’s tax and wealth statements, said the current market value of known assets and businesses owned by the family within Pakistan and abroad during the last six years amounted to “more than Rs12.7 billion.”

The Inter-Services Public Relations (ISPR), the Pakistani military’s media wing, said on Sunday the figures shared on social media relating to the assets owned by the army chief and his family were “misleading.”

“A specific group has quite cleverly and dishonestly attributed the assets of the father of General Bajwa’s daughter-in-law and his [former’s] family to the army chief and family,” the ISPR said in a statement.

“A completely false impression is being given that these assets were made by the in-laws of Army Chief General Bajwa’s [son] during his six-year tenure [as army chief]. It is totally against the facts, a blatant lie and based on malice.”

Pakistan’s finance czar, Ishaq Dar, this week said authorities had traced a few people in the Pakistani cities of Lahore and Rawalpindi, who had been involved in the “illegal and unwarranted leakage” of tax information of General Bajwa’s family members.

In the absence of a court order, Dar said, the leakage of an individual’s tax details was a “violation of law,” which was why he had earlier ordered an investigation into the matter.

The ISPR said all assets of the army chief and his family were formally declared with country’s revenue watchdog, the Federal Board of Revenue (FBR), and General Bajwa and his family members regularly filed their wealth statements.

“Like every citizen, the army chief and his family are accountable to the tax authorities with regard to their assets,” it added.

Fact Focus, which has previously published investigative reports on the “misappropriation of funds” by prominent Pakistani politicians and generals, released its recent report at a crucial time when General Bajwa, who has been the country’s army chief since 2016, is due to retire on November 29, following the final day of his second three-year term.

The army chief is arguably the most powerful man in the country. The military has for decades ruled Pakistan either through coups or as the invisible guiding hand in politics.

In 2020, a retired general who at the time chaired the government body overseeing billions of dollars of investment from China, faced scrutiny over his family’s finances after an investigative report in Fact Focus claimed they had acquired a vast empire as he rose through the ranks. Gen Asim Bajwa, who is not related to the current army chief, denied the allegations.

The military defense spending appears each year as a single-line figure in Pakistan’s annual budget and is not open to public scrutiny, like the budgets of other government departments.


Pakistan consumer confidence rises by 4 percentage points in two years, survey shows

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Pakistan consumer confidence rises by 4 percentage points in two years, survey shows

  • Four in 10 Pakistanis believed the country is on the right track, with optimism higher among men
  • Economic concerns remained most worrying, but their quantum fell drastically across all issues

ISLAMABAD: Consumer confidence in Pakistan has risen by 4 percentage points from 31.5 to 35.5 over the last two years, which highlights improving public optimism under the government’s tenure, Ipsos market research firm said in a recent survey.

The survey was conducted through computer-assisted telephonic interviews (CATI) and included more than a thousand participants from all provinces and Azad Kashmir and Gilgit Baltistan regions on Feb. 2-14.

It comes at a time when Pakistan has undergone a difficult period of stabilization, though international rating agencies have acknowledged improvements after Islamabad began implementing structural reforms as part of its $7 billion International Monetary Fund (IMF) program.

The Ipsos survey revealed a “measurable” improvement in Pakistan’s economic sentiment, marked by a decline in inflation alongside notable reductions in poverty and unemployment, since the current government took charge two years ago.

“These findings point to a clear two-year transformation in the Consumer Confidence Index, demonstrating the perceived impact of consistent governance and policy measures,” read the key takeout in the survey.

“Sustained performance, coupled with transparent communication of achievements, will be essential to maintain momentum, reinforce optimism, and support further improvements in economic confidence.”

Four in 10 Pakistanis believed the country is on the right track, with optimism higher among men, while confidence in the country’s direction being right increased more than three times, from 12 percent to 40 percent, since the government came to power, according to the survey.

Economic concerns remained most worrying, but their quantum fell drastically across all issues since the first quarter of 2024. Inflation has dropped by 23 percent, unemployment by 10 percent, poverty by 20 percent, electricity prices by 34 percent and the burden of additional taxes was reduced by 18 percent in Q1 2026 as compared to Q1 2024.

“One in 3 Pakistanis expect the economy to strengthen,” the survey read. “Confidence to invest has grown steadily over two years, rising from 11 percent to 16 percent, with even stronger optimism among urban residents.”