Nabbing thieves is two-edged sword: Asad

ISLAMABAD: Federal Minister for Finance said on Thursday that nabbing the corrupt and thieves is two-edged sword as many in other countries are asking as to when the looters of public wealth are to be put behind the bars.

Ruling out possibility of any further tax amnesty scheme, Federal Minister for Finance and Revenues Asad Umar said on Thursday that the government obtained data of about 1,52,000 resourceful Pakistanis owning assets abroad after operationalisation of Organization of Economic Cooperation and Development (OECD) agreement from different 27 countries.

He also said that the government decided establishment of specialised unit in FBR for dealing with high net worth individuals who owned properties in Dubai and named in Panama and other leaks but they never bothered to declare anything here in Pakistan. He made it clear that no amnesty scheme was under consideration.

Talking about “Pakistan’s Economy: Challenges and Way Forward” in breakfast with Jang arranged by Jang Media Group here at local hotel, Minister for Finance Asad Umar said that Saudi Arabia was bringing the biggest ever foreign direct investment in Pakistan and they were waiting for the approval of the cabinet. After the ceremony, he told The News that the Saudi Arabia was bringing $5 to $6 billion investment for establishment of refinery in Gwadar and the cabinet was expected to grant approval next week.