Rs 4,000 billion transferred out of Pakistan illegally: Report

Rs 4,000 billion transferred out of Pakistan illegally: Report
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LAHORE: The Supreme Court of Pakistan was told on Tuesday that Rs4,000 billion have been transferred out of the country illegally.

A three-member bench of the apex court was hearing the suo motu case of Pakistani citizens who had foreign bank accounts and assets.

The bench was headed by Chief Justice of Pakistan Mian Saqib Nisar and included Justice Umar Ata Bandiyal and Justice Ejazul Ahsan.

During the hearing, the court expressed dissatisfaction over a report of the State Bank of Pakistan in relation to the case of assets of overseas Pakistanis.

State Bank governor, finance secretary and Federal Board of Revenue chairman appeared before the court.

The SBP governor said that investigating the transfer of money illegally was the task of FIA.

Justice Umar Bandiyal remarked that the apex court will not interfere in the issue of the amnesty scheme.

The CJP said that for the putting the country’s economy on the right track, think-tanks should be utilised and the platform of Law and Justice Commission was present.

In the previous hearing, the SC in its order to the SBP had stated that details of all transactions above $50,000 should be submitted to the court.

Economy