ISLAMABAD: The federal government seems reluctant to take practical measures for tracing $200 billion stashed by Pakistanis in Swiss banks.
About six months ago, Pakistan and Swiss governments had signed an accord pertaining to details of Pakistanis’ bank accounts in Swiss banks which was then approved by the federal cabinet. Another deal was to be signed by Federal Board of Revenue Chairman Dr Muhammad Irshad and Swiss ambassador to make this agreement operational and to finalize date for implementation. In this regard, FBR had written a letter to the Ministry of Foreign Affairs ministry for inviting Swiss ambassador but later had failed in crafting a timeframe for meeting between relevant authorities. Authorities concerned revealed that Pakistan, after implementation of agreement, would contact Swiss courts for drilling details of Pakistanis who opened accounts in Switzerland in the past 50 years. INP