Pakistan, UK launch 'initiative' for repatriation of 'looted wealth'
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Law Minister Dr Farogh Naseem and British Home Secretary Sajid Javid on Monday jointly announced a justice and accountability 'initiative' between the UK and Pakistan aimed at repatriating "the looted wealth of the country".
The initiative — which the duo insisted will not target individuals but is a broader arrangement between the two governments to collaborate for the elimination of a variety of crimes — was launched during the British home secretary's official visit to Islamabad.
The 'initiative', earlier reported to be an 'agreement' but described by the government as only a 'declaration', is aimed at tackling corruption and "making it a priority for both governments," Radio Pakistan reported.
"The aim of this declaration is to bring back the looted wealth of the country," Shahzad Akbar, the Special Assistant to the Prime Minister on Accountability, said, adding: "The agreement on exchange of convicted personnel will also be renewed."
Javid expressed the British government's desire for mutual cooperation with Pakistan in defence, regional security and efforts against terrorism and extremism — the latter two of which, he said, are a common threat for the global community.
"The United Kingdom will continue to help Islamabad," Javid assured while acknowledging that Pakistan has made "a lot of sacrifices" in the global war against terrorism.
He described Pakistan as a "trustworthy friend of the UK" and said that eliminating corruption is a priority for both the countries.
Foreign minister wants expansion in Pak-UK ties
Earlier in the day, Foreign Minister Shah Mahmood Qureshi, who also met Javid at the Foreign Office, had stressed the need for expansion in cooperation between Pakistan and the United Kingdom.
The two had discussed various aspects of regional and bilateral cooperation, particularly regional security, counter-terrorism, organised crime, migration, human trafficking, money laundering and asset recovery.
Qureshi also emphasised the need to translate existing ties into a tangible and multi-faceted strategic partnership.
He also formally acknowledged the UK Department for International Development's (DFID) contributions towards the development of various socio-economic sectors in Pakistan.
The British home secretary, in return, conveyed his government’s desire to support and work closely with the new government in all areas of mutual interest.
The two countries closely cooperate under the institutional framework of the [Enhanced Strategic Dialogue].
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Comments (100) Closed
Sep 17, 2018 01:48pm
Whats new in it?? Every current and Ex miniters want the same, but please don't compromise the integrity this time. The nation is ready to face extreme, we are behind you, behave like Tipu Sultan.
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Sep 17, 2018 02:11pm
Firstly can we sign an extradition order so people like ishaq dar can be brought home to face trial
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Sep 17, 2018 02:13pm
I think people are more educated than the eye wash news these days. I am sure they both spoke on cooperation and mutual benefits but just giving out a press release without specifics of the discussion in today's age, is ironic.
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Sep 17, 2018 02:23pm
asset recovery... now we talking.
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Sep 17, 2018 02:47pm
Will this open a new page of collaborations to recover stolen wealth stashed in the UK??? If so, hats off to PM Khan....
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Sep 17, 2018 02:54pm
UK in relation to Pakistan must stop being a country where people instead of facing the music can go there and enjoy the music - it is a tragedy that Shariffs, Zardari, Bhuttos, Gen Musharaff, Altaf etc etc all are there living very very comfortably while the common man suffers - some solution must be found to stop this.
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Sep 17, 2018 03:01pm
Leave fantasy platitudes and wishfull thinking till later, first and formost you need something real, substantial and urgent to bring back wanted thieves and money launderers back to face accountability.
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Sep 17, 2018 03:14pm
Wishful thinking is all that our politicians are expert at.
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Sep 17, 2018 03:39pm
this is a big news but media won't give it much importance
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Sep 17, 2018 03:42pm
Bring back all looted money as quickly as possible please, and do not let culprits get away. First task should be Nawaz Sharif's wealth, second, Asif Zardari's hidden properties and sugar mills, and then start with Isaq Dar's UAE's properties and others black sheep of pur society. We have to recover all tax payers money and get rid of rotten wood from our society - this is the only way to be self sufficient, peaceful and prosperous nation.
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Sep 17, 2018 03:43pm
Simply to say, look busy do nothing.
How can a visiting person make an agreement without any prior meetings and without any consultation with his government too.
Possibly, his visit is of personal nature because there was no news in media before hand.
Anyways, congrats if that's so and hopefully, Pakistan economy will grow high after this agreement.
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Sep 17, 2018 03:43pm
@zeeshandxb problem is that we criticise on the things which actually don't require criticism.
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Sep 17, 2018 03:44pm
Good move towards right direction.
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Sep 17, 2018 03:44pm
But have you defined the term. Looted wealth as everyone will say that his wealth is acquired without loot !!
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Sep 17, 2018 03:44pm
Welldone PTI gov doing good job full marks. Need more clarification pl . Hope all big fishes looted money will be in country soon to pay the IMF loan and make Naya Pakistan corruption free.
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Sep 17, 2018 03:46pm
One more step in the right direction, keep it up PTI goverment.
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Sep 17, 2018 03:48pm
Could some one explain where the amount of Rs 24000 billions eqv around US$200 billions of loan borrowed during last 10 years of PPP and PMLN government has landed. CJ SCP must take a suo moto action and arrange for a forensic audit immediately.
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Sep 17, 2018 03:51pm
i hope it includes wealth looted by british umpire during its orguous rule
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Sep 17, 2018 03:51pm
Pakistan, UK sign agreement to 'bring back looted wealth' . Does it mean UK will return the money they had looted when they ruled us 71 years ago ?
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Sep 17, 2018 03:52pm
A sham.
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Sep 17, 2018 03:53pm
Correction dawn - they said we would not discuss individual cases in the press conference.. that doesn’t mean individuals will not be discussed further down the line by their respective agencies...
Ishaq dar sleepless nights start from today
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Sep 17, 2018 03:54pm
Is this a formal extradition treaty between the two countrtries? If the looted money can be brought back under this agreement, how about those criminals like Altaf Hussain and Ishaq Dar, who are hiding in England and are wanted by courts in the Islamic Republic of Pakistan?
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Sep 17, 2018 03:55pm
Bingo! Ahsan Iqbal to bite dust soon :)
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Sep 17, 2018 03:55pm
Excellent work.
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Sep 17, 2018 03:58pm
and what about the one who looted. and what about the altaf hussain case ?
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Sep 17, 2018 04:00pm
Action speaks louder than words.
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Sep 17, 2018 04:04pm
Hallow talk.. all for public consumption.
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Sep 17, 2018 04:05pm
This is what we expect, the first step. Good and move forward. PTI government is making difference.
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Sep 17, 2018 04:11pm
@Mountain boy - You are as clueless as anyone who is disconnected livin gin the Mountains usually is!
The British Home Secretary has to report and discuss what he has agreed to, in the House of Commons, upon his return to London, sitting right next to the Prime Minister. Do you think he will hold a joint press conference with his Paksitani counter-part and annouce these agreements, only to go home and deny them? What would that do to his credibility or that of the British Government??
Think before you post foolish comments.
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Sep 17, 2018 04:16pm
@FairPlay It's automatically include in the agreement.
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Sep 17, 2018 04:17pm
Now IK government is getting its momentum.
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Sep 17, 2018 04:18pm
Excellent move by both countries .
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Sep 17, 2018 04:18pm
Billions of pounds must be returned to Pakistan.
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Sep 17, 2018 04:19pm
@Mountain boy This is not PMLN govt, this is a govt committed to work for the betterment of Pakistan.
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Sep 17, 2018 04:22pm
This is how things are get done! in 1 month agreement to bring back looted wealth!
lets bring back all ill-gotten wealth of all political and non political clans! This also states, Sharifs and other are no more safe in UK or be an assets but a liability for UK.
This will be shocking for those who were stashing it all there. IK and PTI means business.
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Sep 17, 2018 04:24pm
Signed agreement. Thats how things are done properly. In the past there was never this type of commitment so nothing ever happened because the rogue elements never wanted to sign on the dotted line. Thank you PTI. There are billions of pounds of stolen money stashed abroad in uk and swish banks.
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Sep 17, 2018 04:27pm
That is some progress in the right direction.
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Sep 17, 2018 04:27pm
@SHAHID SATTAR they have been clever only because both parties have been helping each other. This is not the case anymore for state of Pakistan. Not many countries now allow laundered or corruption proceeds.
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Sep 17, 2018 04:28pm
@zeeshandxb .... British banks have an interest in managing the money.
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Sep 17, 2018 04:33pm
Good!
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Sep 17, 2018 04:46pm
What about sending back Dar and Altaf?
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Sep 17, 2018 04:48pm
You show justice in Pakistan and money will come and then no need to chase it
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Sep 17, 2018 04:49pm
This news has brought tears of happiness in the eyes of so many Pakistanis brutally treaded on by two corrupt most families. May the corrupt pay for their sins. Pakistan Strong. Pakistan Zindabad.
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Sep 17, 2018 04:49pm
No agreement signed between the two countries only diplomatic words by mouth
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Sep 17, 2018 04:55pm
Is it really happening naturally or a planned game?? why everything goes against to Sharif family?? Poor Sharifs
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Sep 17, 2018 04:58pm
I think the noose is closing in on altaf and dar. Some other big fish will also get cought in this net.....just a matter of time.
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Sep 17, 2018 05:02pm
UK is biased. Why are people like vijay mallya and nirav modi not being sent to India ?
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Sep 17, 2018 05:07pm
Wishful thinking.We will see.Diffence in press statements and reality
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Sep 17, 2018 05:09pm
Bad news for Nawaz Sharif's sons and Isaq Dar, now they cannot hide, and have to surrender and handover their looted wealth. There is no other way!
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Sep 17, 2018 05:10pm
Very good step, if Pakistan Succeeded in bringing back the looted wealth, then Pakistan will not need any external loan.
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Sep 17, 2018 05:11pm
To stop corrupt politicians from looting and plundering the country and their massive money laundering, this should have been done long time back. It was not done as leaders of both PPP and PML were involved in corruption. The people of Pakistan demand "accountability" of all, no politician or his family can be above the law.
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Sep 17, 2018 05:12pm
@Taimoor khan Yes, but talk is cheap. Action is lacking.
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Sep 17, 2018 05:13pm
It is a great development and big achievement by the Government. Now the cases of plundering of National money should be investigated immediately for early return of looted money.
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Sep 17, 2018 05:17pm
Let us see what happens.
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Sep 17, 2018 05:20pm
Sounds good but it would be extremely difficult to prove due to intricate methods of proving the fact that money hidden in UK financial institutions is looted by corrupt politicians, bureaucrats, retired generals, and unethical businessmen.
Money laundering is a science and hardly any other nation can match us in the sophistication that our people have achieved in this field.
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Sep 17, 2018 05:20pm
There is no looted money in billions dollar, may be in millions dollar. And Pakistan may not be able to trace that money too. Work hard and pay back IMF loan amount.
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Sep 17, 2018 05:22pm
Now UK has more trust and confidence in new PM. Cooperation will be better.
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Sep 17, 2018 05:23pm
This good news. At least this can be only possible through this government.
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Sep 17, 2018 05:29pm
Excellent news for Pakistan
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Sep 17, 2018 05:37pm
@zeeshandxb Agreed. British politicians excelling in the art of diplomacy, & we being novices, are no match. Realistically speaking the game will start when Pakistan put up specific demands related to its citizens having multi-million pounds supposedly tainted investments in real estate in the UK. A legal lacunae here and a clarification demand there, cleverly put will keep the process going on for years together with no outcome. A more prudent approach would demand that those, as per list available, suspected of having these properties abroad should be apprehended as soon as possible & a plea bargain enacted to affect recovery of taxes with penalties. This is for all practical purposes a quixotic approach, holding no water. Other than that it is mere waste of time to run after this mirage our new govt. is making us believe that our miseries will soon be over and country’s empty coffers will be soon brimming full. Let us hope that the new FM realizes soon & not become obsessed with it
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Sep 17, 2018 05:52pm
Pipe dreams and wishful thinking.
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Sep 17, 2018 06:54pm
Let the process get started. One step at a time.
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Sep 17, 2018 06:54pm
Good move. The credit goes to PTI's efforts.
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Sep 17, 2018 06:56pm
Heard this many times before.
No real reason to believe it this time as well.
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Sep 17, 2018 06:56pm
Looted money doesn't have a label in the UK banks or any bank for that matter. First, it has to be identified before any action can be taken. Looks like the UK banks are a safe haven for all monies from anywhere otherwise these large sums would stick out like a sore thumb. It's an uphill battle for PK to identify the monies and the people behind them and only then can repatriation procedures can begin. Also, monies leaving PK from now on must only be genuine trade-related or such. How do these PK and India nationals get into the UK so easily is beyond me. Repatriation can be wishful thinking unless PK assets of these nationals are put under scrutiny. Good begining.
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Sep 17, 2018 06:56pm
Please bring Altaf Hussain to justice in Pakistan.
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Sep 17, 2018 07:12pm
@Taimoor khan This is just a delcaration and not a signed agreement. Why isnt a binding agreement being proposed, this is all for PTI jiyalas benefit and nothing has legally changed.
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Sep 17, 2018 07:16pm
@Sohail - So says a die hard PML-N supporter - whose party could never muster as much??
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Sep 17, 2018 07:30pm
what about visas?
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Sep 17, 2018 07:37pm
I thought the article was talking about the loot by the British
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Sep 17, 2018 07:44pm
Unfortunately Javid is mostly ignored in the UK. He has no real power
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Sep 17, 2018 07:50pm
Can you enlighten us why UK envoy is recalled recently?
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Sep 17, 2018 07:52pm
@Agnostic well said. There is No WAY the British are going to extradite anyone from Britain as they think we have no human rights.But our govt will hand over anyone they want without any evidence
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Sep 17, 2018 09:05pm
You can belive any one except british people
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Sep 17, 2018 09:34pm
Make things happen, verbal agreements and initiatives don't carry much meaning.
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Sep 17, 2018 09:48pm
@Dr. Salaria, Aamir Ahmad - None of them are criminal. One was finance minister until few months ago and another a mass leader. Both are targeted due to political reasons.
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Sep 17, 2018 10:17pm
"Initiatives, declarations etc" are easy to do. No government will ever sign an agreement on extradition, money laundering, corruption with the UK. For the means the any UKcitizen can go to court with evidence and ask the court to start proceedings w.r.t the personnel/property/ money laundering. The agreement will affect not only the corrupt people outside the government but also not so clean people of Pakistan TehrikeInsaf. So no agreement ever, just hot air like " initiatives" - no concrete action just like before. What I do not understand is that why did the UK home secretary come - just to make a silly declaration. NO. In my opinion, the UK home secretary thought that the Pakistan is are serious about signing agreement but once in Pakistan realized the it was to satisfy the public with no intention on current government to sign an agreement.
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Sep 17, 2018 11:16pm
Next should be UAE!!
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Sep 17, 2018 11:31pm
Great. Let us hurry up.
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Sep 17, 2018 11:41pm
It started already. One couple already arrested of owning 8 million pound property with no evidence.
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Sep 18, 2018 12:46am
Money talks. The looters have the money; the government doesn't, for the looters have bankrupted the nation.
Those who have mercilessly looted and plundered the poor nation, with total impunity while in office, have safely stashed away their lucre in their foreign hideouts.
Of course, the foreign governments knew very well that the money being laundered into their countries is illegally acquired. But so long as the loot is coming in, enriching their economies, even if at the cost of our economy, they welcome the loot, with no questions asked.
Over the years, the looters have succeeded building connections at the highest levels in their foreign hideouts, with the looted money and the political positions they held. In this country they still enjoy the support of all those, who benefited from their corruption.
They have influence; but the new government has yet to build the relationships to counter the looters' influence. That might take time. And it may, or may not, work out.
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Sep 18, 2018 01:02am
So does this mean actual return of money at large or tracing back money laundered schemes or just more stringent laws going forward on illegal money? Cause the news heading looks like it’s about repatriation while the news actual seems a future watchfulness on these issues. A bit ambiguous.
It would be a very difficult process to trace back money laundering schemes on such a large scale but that if it happens will be a real big news.
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Sep 18, 2018 01:33am
This is the same country which gave Altaf Hussein citizenship , covered up his millions of pounds of money laundering and is still looking for killers of Dr. Imran Farooq despite having video footage and credible leads.
I don’t believe in sincerity of the British when it comes to dealings with us.
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Sep 18, 2018 02:17am
It is really a very very Big news for Pakistan. . UK & Pakistan ties are further bolted into new and important dimensions. At the same time Bells are rung for Corrupt Mafia . Now these new ties should move faster at a speed where the common men could see its fruits. We want Avenfield Apartments sell and brought back its money to Pakistan Economy cycle.
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Sep 18, 2018 02:43am
Pakistani politicians are not the only ones who make personal trips at public expense.
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Sep 18, 2018 02:47am
No way in hell the UK government will give up the money that is deposited in their banks. This make them rich. Why would they give us the money? What does Pakistani government offer in return? What leverage does the Pakistani government has?
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Sep 18, 2018 03:01am
It is a tough ask and almost impossible to implement
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Sep 18, 2018 04:00am
Nothing meaningful. All diplomatic talk with no real value. Not even an MoU.
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Sep 18, 2018 04:54am
Bring back the money looted by Sharif and Zardari fanily
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Sep 18, 2018 05:05am
Pakistanis on both sides of the table is a heartening news. 'Onya, Javid and Shah. Best wishes from down under.
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Sep 18, 2018 05:36am
I can guarantee that Pakistan will not get anything from UK as UK is the world's capital of illgotten money and is a paradise for Thugs with stolen and illegal money.
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Sep 18, 2018 05:38am
This is a cruel joke played on innocent public in Pakistan
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Sep 18, 2018 05:54am
The beneficiaries of East India Company cannot be expected to return the looted wealth.
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Sep 18, 2018 06:47am
Lie has become very normal,no one questions
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Sep 18, 2018 07:19am
Tomorrow UK will also make the same demands to Pakistan. Do not forget after-effects of 9/11 that Pakistan faced.
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Sep 18, 2018 07:31am
Pakistani Awam wants ACTION indeed. Money laundering is still going on every day.
Looted money must be recovered asap and the culprits be convicted and punished severely.
It is high time that a capital punishment law is passed in the Parliament of Pakistan to curb the menace of money laundering and corruption.
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Sep 18, 2018 08:04am
Unless there is legally binding agreement, UK courts wouldn't help!
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Sep 18, 2018 12:10pm
@Rajesh "UK is the world's capital of illgotten money and is a paradise for Thugs with stolen and illegal money." That is correct, but is feeling the repercussion of being that paradise. UK firms are losing a lot of business due to the encouragement of corruption in the world. What UK is gaining from that corruption, is very small compared to what private businesses are losing. They lobby for stopping corruption, not because they are honest, but simply because they lose business opportunities. One lobby that gains from corruption is against the other one which is losing. The later is gaining grounds in the power corridors.
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Sep 18, 2018 12:18pm
@DARA KHAN "Please bring Altaf Hussain to justice in Pakistan." UK is cooperating to control corruption and money laundering, not to control how someone talks. Then UK will ask you to hand over people who talk in certain way in Pakistan. Will you oblige them in return? There will be no backlash in UK if they hand over Altaf Hussein, can you say the same if Pakistan hands over a firebrand religious leader?
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Sep 19, 2018 06:55am
What about the wealth of the nation looted by politicians and bureaucrats since independence? When will it be "repatriated?" The British built two viable countries, Pakistan and India and helped them make progress in the fields of education, health, transportation, communications, rule of law, justice, power and industrial development, etc. Will Pakistan reimburse Britain for the expenses incurred by them?
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