–FIA DG tells court millions of rupees were siphoned off to foreign countries ‘legally’ in 1992
ISLAMABAD: The Supreme Court (SC) on Wednesday learnt that around 4,221 Pakistanis have foreign bank accounts and assets in the United Arab Emirates (UAE).
Federal Investigation Agency (FIA) Director General Bashir Memon informed Chief Justice of Pakistan (CJP) Mian Saqib Nisar of the same as the CJP headed a two-judge bench hearing the case of foreign bank accounts and assets of Pakistani citizens.
During the hearing, CJP Nisar said, “FIA should inform us how many Pakistanis have assets and accounts in the UAE,” adding that similar directions were given to the authorities earlier but were not acted upon.
“Billions have been kept in bank accounts in Switzerland and Dubai,” Justice Nisar noted.
“People looted the money and took it abroad,” he added.
Memon responded to the CJP’s remarks stating, “They took the money abroad as per the law in 1992.”
Memon continued, “Some took the money abroad through lawful means but there are also people who looted tax money and transferred it abroad.”
“That money was taken to the United States, Canada and Europe,” he informed the court further, adding that “money is also sent abroad through ‘hundi’.”
“A plan of action needs to be made to bring back this money,” Memon said adding that they do not have the authority for mutual legal assistance.
CJP Nisar also said that there needs to be an end to white-collar crimes in the city.
He continued, “The mechanism should not be such that a person travelling abroad even has to declare as little as $200,” adding that these are illogical restrictions.
“We just want to stop the transfer of money to foreign countries,” he upheld.
The bench also summoned senior lawyer and legal expert Ahmer Bilal Soofi to assist the court.
The hearing of the case has been adjourned till August 1.