I am writing this in respect to the revised pact signed between Pakistan and Switzerland which is made to improve the exchange of information of the Swiss bank accounts. For now, the two countries will take charge of the internal procedures which will be functional in Pakistan by 2018. Previously in 2014, Pakistan signed a revised pact but the matter was put off for two years as a result of the unexpected renegotiation of the federal government. According to the Finance Ministry, the agreement will improve the exchange of information for tax purposes. However, there won’t be any safe havens for stashing Pakistani cash; the chances of Pakistani people seem unlikely to be benefited from it.
Maryam Jawaid
Karachi
