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CJP seeks details of Swiss accounts from FBR

CJP seeks details of Swiss accounts from FBR

LAHORE: Chief Justice of Pakistan Justice Mian Saqib Nisar on Monday remarked that every newborn in Pakistan owes a heavy loan due to failed policies of previous governments.

CJP Nisar’s remarks came as he headed a three-judge bench at the top court’s Lahore Registry which was hearing a case regarding foreign assets and bank accounts held by Pakistani citizens. Justice Umar Atta Bandial and Justice Ijazul Ahsan were other members on the bench.

Lashing out at the State Bank governor and secretary finance for not appearing before the court today, Justice Nisar said, “We are hearing a crucial case regarding public welfare but the State Bank governor and secretary finance are not bothered.”

Justice Nisar while stating that even every newborn in Pakistan is indebted owing to the failed policies of previous governments asked, “How much does each newborn owe?”

Irked by non-implementation of apex court docket’s directives within the case of overseas belongings and financial institution accounts maintained by Pakistanis, CJP questioned in regards to the quantity of money that each little one owes.

Being censured over laundering of trillions, sharp decline in exports and challenge of smuggling, CJP requested “why investigation has not been carried out for the capital of trillions that was being laundered to Switzerland?” Justice Nisar said, “Exports are diminishing and imports are increasing. but “No one could stop smuggling,” he further said.

It must be on the file that what number of abroad belongings and financial institution accounts every Pakistani owns, he added.

He additionally requested for all loans taken by finance ministry in last 10 years and added, “They take loans and leave those children to bear the brunt who are not even born as yet.”

During the course of hearing, CJP also dispelled the impression that apex court had rejected the amnesty scheme. “Who says that we’ve rejected Amnesty Scheme? We have not been knowledgeable in regards to the Amnesty Scheme,” CJP commented.

Justice Bandial asked Chairman FBR Tariq Pasha, why he didn’t bring the amnesty scheme in the knowledge of the court. Pasha, however, remained silent.

CJP said SC’s order pertaining to foreign assets and accounts had been enforced in letter and spirit, no one has the right to make a child indebted even before his birth.

According to the Debt Policy Statement, every Pakistani man, woman and child owes over Rs57,000 which is approximately Rs22,000 more than the per head level when the dissolved PML-N government took over in 2013.

CJP wondered that no restriction or law was introduced to thwart illegal flight of money abroad. We wanted to know the details of every Pakistani who holds foreign assets or accounts.

CJP asked FBR chairman what progress has been made in matter of trillions of dollars of Pakistanis lying in Swiss accounts. The court asked the FBR officials to furnish all the details in the court by midnight.