close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
October 26, 2018
Advertisement

20 Pakistanis having properties abroad must be produced: SC

Top Story

October 26, 2018

Share

ISLAMABAD: The Supreme Court of Pakistan on Thursday said 20 Pakistani individuals having some 120 properties abroad should be presented, but was told by the Federal Board of Revenue (FBR) that trial of these people cannot be conducted in Pakistan.

The government on Thursday provided the apex court a list of 20 Pakistani individuals having some 120 properties in the United Arab Emirates but had claimed amnesty offered by the previous government. A three-member bench of the Supreme Court, headed by Chief Justice Mian Saqib Nisar, resumed hearing in a suo motu case regarding foreign bank accounts and properties held by Pakistani citizens.

The Attorney General of Pakistan, Anwar Mansoor Khan, in pursuance of the court order presented a list of 20 Pakistani individuals having some 120 properties in the UAE. Earlier, during the proceedings, the chief justice had asked the attorney general to provide a list of 20 people as a sample who have properties in the UAE but had claimed amnesty offered by the previous government of the PML-N.

In pursuance of the court’s direction, the attorney general provided the list of 20 people. The FBR Chairman, Jahanzeb Khan, Federal Investigation Agency (FIA) Director General Basheer Memon and Governor State Bank of Pakistan (SBP) Tariq Bajwa appeared before the court.

The DG FIA submitted a report pertaining to details of foreign properties owned by Pakistani citizens. The chief justice, while referring to the claim made by the DG FIA that the foreign properties of Pakistani nationals are worth 1,000 billion rupees, said that a dam could be constructed with such a heavy amount.

Bashir Memon told the court that some 894 Pakistanis have properties in the UAE. Out of these, he said, 374 individuals have taken advantage of the government's amnesty scheme, 150 people have admitted that they have properties abroad, 69 people said they have shown their properties in their tax returns, while 82 people denied having any property abroad.

The court was further informed that some 150 people out of the total 894 own 203 properties, with each estimated to be worth a minimum of Rs50 million. The chief justice asked when the FIA would launch a crackdown against these people. The DG FIA contended that due to the amnesty scheme introduced by the previous government, they did not touch the matter.

To a court query, as to whether foreign banks could be approached for providing details of accounts of Pakistani nationals, Tariq Bajwa submitted that foreign branches do not fall under the SBP’s jurisdiction.

The chief justice recalled that the United Kingdom has only provided details pertaining to properties, but not bank accounts. At this, Tariq Bajwa said that the United Kingdom has started sharing information about accounts last month.

The court adjourned the hearing till November 1. It is pertinent to mention here that the chief justice had constituted a committee comprising chairman FBR, governor SBP and secretary Ministry of Finance to prepare guidelines and evolve an effective strategy to encourage the people to take out their money from foreign banks, bringing it back to Pakistan and to participate in development and prosperity of the country.

Advertisement

Comments

Advertisement

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus