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Thursday, May 23, 2024

Gov signs agreements with 10 countries to bring back looted money

News Desk |

Special Assistant to Prime Minister on Accountability Shahzad Akbar has said that the government has signed agreements with 10 countries to bring “the looted money of the nation” back, Radio Pakistan reported on Thursday, 22nd November.

Barrister Akbar made these announcements while speaking to a private news outlet. He also said that the government has gathered important information about the money and that the details about the Rs700 billion “looted public money” will be shared with the nation through media in due course of time.

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He said that the government will continue the due process of accountability and that a legal process is underway to “bring back the looted money stashed away abroad”.

The prime minister’s special assistant also said that the government will protect the interests of overseas Pakistanis and the business community will be facilitated for boosting economic activities in the country.

A day earlier, while addressing overseas Pakistanis in Malaysia, Prime Minister Imran Khan had also spoken about the efforts being made to facilitate expats in contributing to the country’s economy.

Earlier this month, Barrister Shahzad Akbar had spoken to the press and said that the government of Pakistan’s accountability front has identified more than 5,000 fake accounts which were allegedly used for money laundering.

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Shahzad Akbar was accompanied by Senator Faisal Javed and Adviser to PM Iftikhar Durrani. The Special Assistant had held the press conference to brief the media on the progress made by the assets recovering unit, a joint platform of officials from the State Bank of Pakistan, the Federal Board of Revenue and other investigation agencies to bring back illegal money stashed overseas.

Barrister Shahzad Akbar told the media that assets worth $5.3 billion were made in Dubai alone through alleged money laundering. “The amount translates into Rs 700 billion,” he said, adding that further details of all Iqama holders were being collected with the help of Dubai authorities as well as the local mechanism. He said that there are two types of iqamas (work permits) obtained by the people of Pakistan.

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One is obtained by genuine workers, salesmen, legal advisers, and others, who send the bulk of their money back to Pakistan and it is added to our economy. He said that Rs7.4 billion was recorded as remittances in the first quarter of the PTI government, which is 20 to 25% higher than the previous quarter.