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Pakistanis have assets worth $150 billion in UAE, SC told

F.P. Report

ISLAMABAD: The Supreme Court was informed on Monday that Pakistanis own $150 worth of assets and properties in the United Arab Emirates (UAE).

This disclosure was made in a report submitted to a bench of the apex court, headed by Chief Justice Mian Saqib Nisar, in a fake accounts case.

A chartered accountancy firm, A.F. Ferguson, submitted the report, revealing that Pakistanis have $150 billion of assets and properties in the UAE.

State Bank of Pakistan (SBP) Governor Tariq Bajwa told the judges that the terms of reference for a probe against the Pakistani nationals having bank accounts and properties abroad have been worked out and submitted to the Federal Board of Revenue (FBR).

FBR chairman Muhammad Jehanzeb Khan said 200 people owning assets outside Pakistan have been issued notices. At this, Justice Ijazul Ahsan, a member of the bench, asked him to submit a list containing their names and copies of notices issued to them in court on next hearing.

The chief justice asked the FBR head to apprise the court the names of the 100 people who have accumulated assets abroad through money laundering and added the court will take them to task.

Khan said the FBR had already pointed out the 250 people who were involved in money-laundering. At this, Justice Nisar directed him to furnish their details to the court.

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