*ISLAMABAD: A startling report, compiled by 12-member committee of experts,reveals that Pakistani citizens have transferred a sum of $ 15 billionabroad during the financial year 2016-17.*

Chief Justice of Pakistan Mian Saqib Nisar had ordered the court on March26 to constitute a committee of 12 experts having insight into the processof accumulation of undeclared foreign assets by Pakistani citizens andprepare a report in this regard.

The committee consisted of Governer State Bank Tariq Bajwa, Chairman FBRTariq Pasha, Additional Attorney General Mohammad Waqar Rana, senior lawyerKhalid Anwar, Advocate Ikramul Haq, Finance Secretary Arif Ahmed Khan,Shabbar Zaidi, Mehmood Mandiwala, Bashir Ali Muhammad, Tariq Paracha, NisarMuhammad Khan.

The committee was assigned the task to propose legislative and executivemeasures for tracing and retrieving such assets held abroad.

The report highlights that during the financial year 2016-17 a staggeringamount, US$15.253 billion, was transferred abroad by Pakistani citizensthrough normal banking channels. The committee also suggested that duringthe said period a substantial amount of transfers took place from Pakistanunder unauthorised and undocumented Hundi and Hawala mechanisms.

The CJP had taken suo motu notice related to retrieving the allegedill-gotten money from foreign accounts.