SC directs authorities to produce 20 Pakistanis who own properties abroad
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The Supreme Court on Thursday directed the authorities to produce 20 people who hold properties abroad and had opted for the previous government's amnesty scheme, during the next hearing of the case.
Chief Justice of Pakistan (CJP) Mian Saqib Nisar, who was heading a three-member bench, issued the orders while hearing a case pertaining to the foreign accounts held by Pakistanis. During today's hearing, Federal Board of Revenue (FBR) Chairman Jahanzaib Khan, Federal Investigation Agency (FIA) Director General Basheer Memon, State Bank of Pakistan (SBP) Governor Tariq Bajwa and the attorney general appeared before the court.
The FIA submitted in the court a report detailing foreign properties of Pakistani citizens. "You've stated that the foreign properties owned by Pakistanis are estimated at $100 billion," the CJP said while addressing the FIA chief. "A dam could be built in Pakistan with such a huge amount."
While briefing the bench on the report, Memon revealed that 894 Pakistanis have properties in the United Arab Emirates (UAE). Out of these, 374 individuals have taken advantage of the government's amnesty scheme, 150 people have admitted that they have properties abroad, 69 people said they have shown their properties in their tax returns and 82 people denied having any property abroad.
According to the FIA director general, 150 people out of the total 894 own 203 properties, with each estimated to be worth a minimum of Rs50 million.
"When will you take action [against the suspects]?," the CJP asked Memon, who responded that the agency has restrained itself for two months because of the government's amnesty scheme.
State Bank Governor Bajwa informed the court that it is now "very difficult" to launder money of the country.
When asked by the CJP why the government was not taking action against the identified suspects, the attorney general stated that the government could not arrest these people under the law.
The FIA chief informed the court that the agency has details of foreign properties of several people, but possesses no details of their bank accounts and neither do their banks fall in the jurisdiction of local laws.
At this, the bench ordered that 20 people who own properties abroad be produced in the court at the next hearing, scheduled for November 1.
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Comments (64) Closed
Oct 25, 2018 04:23pm
It is important to get those people to court who are or were government employees first. They are the people who looted the country.
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Oct 25, 2018 04:25pm
Everybody knows who own property abroad. So why action is deleyed. My question is here how come these people own property aborad. How did they get huge amont of foreign excange .
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Oct 25, 2018 04:26pm
It should be noted that, the world's largest storage and power generation dam called "Three Gorges Dam" in China was built at the final escalated price of % 75 billion. The CJP said that, Pakistanis are estimated to have properties valued at about $100 billion and a dam could be built in Pakistan with such a huge amount. In fact several dams could be built.
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Oct 25, 2018 04:30pm
There is nothing wrong with Pakistani to own assets in other countries. But it must be declared in Pakistan and taxes paid to the governments of Pakistan.
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Oct 25, 2018 04:45pm
Owning a property abroad even if it's in excess of billions of dollars isnt a crime. It's more important to see who among those owners were holding public offices while they acquired these properties.
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Oct 25, 2018 04:45pm
Desperate times need desperate measures
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Oct 25, 2018 04:47pm
100 billion USD! Wow
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Oct 25, 2018 04:52pm
I have property overseas...come find me. Do your job judge and take a look at those 50,000 pending cases you have. I think you’re bored of your job but enjoy poking in other businesses.
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Oct 25, 2018 04:55pm
How about thousands of other Pakistanis who own properties worth millions of dollars abroad?
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Oct 25, 2018 05:06pm
These 20 people are more powerful then CJP and can get him removed easily.
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Oct 25, 2018 05:24pm
Talk talk and more talk, just create confusion. Do first and and tell later, follow the law
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Oct 25, 2018 05:36pm
Never heard of such law which says “produce 20 people on next hearings”. Who will decide which 20 should be rediculed? Govt will forward all oppposing people especially Aleema Khan has proven billion worth properties in UAE and for sure her name wont appear in 20 people choosen.
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Oct 25, 2018 05:41pm
While the focus is on people involved in money laundering to UAE and UK, third country not investigated yet is Canada? Thousands of PPP and MQM workers involved in crime, bhatta, land grabbing, water mafia, kidnapping, murder and terrorism fled to Canada on forged documents and got political asylum? They took looted billions through money laundering. The Canadian High Commission in Islamabad was responsible for allowing such criminals to go to Canada? That violated Canada's law that no "criminal" would be given immigration or political asylum? They must be arrested and sent back to Pakistan to face the courts as they are dangerous criminals.
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Oct 25, 2018 05:42pm
@Danish There is a loop hole in the state bank system where money of any amount can be sent. this loop hole was deliberately left out to be corrected by all the previous govt. Now, PTI govt has identified these short coming & is trying its best to close those loop holes, that is why all have ganged up against PTI govt.
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Oct 25, 2018 05:52pm
One of them could be Musharaf...hmm?
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Oct 25, 2018 05:53pm
We hear about these of billions of rupees of embezzlement cases this and that and yet not no one goes to jail. An ordinary citizen who is already burdened with unlimited Withholding taxes, charges etc is intimidated by the tax authorities and yet they can not prove or find evidence of corruption from someone who has allegedly taken billions.
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Oct 25, 2018 06:07pm
No wonder rich are getting richer, poor are getting poorer and middle class disappearing fast. This imbalance of wealth distribution and money hoarding by corrupts in the country is causing economic stagnation, chaos and social unrest among have not of the country. Thus rooting out of corruption must be top priority to bring some sense of stability in the country.
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Oct 25, 2018 06:15pm
Only 20?
I think the number is close to 200,000 at least, Most of them own some property in Dubai alone.
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Oct 25, 2018 06:32pm
This CJP is not doing justice to his job. In Every matter he involve himself. He is not a good example.
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Oct 25, 2018 06:42pm
@ishrat salim I agree with your justification but in that loop hole many sitting ministers and sitting poltician used that loophole will be be charged?
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Oct 25, 2018 06:49pm
@Danish It has been perfectly legal for many years now whereby you can buy foreign currency in local market, deposit it in your bank and then use it to buy property or invest abroad. Question only arises if the original money exchanged was acquired legally or not.
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Oct 25, 2018 06:52pm
We need urgent and decicive actions without any delay and topi dramas. Get all looted money back as quickly as possible and punish severely corrupt mafia without any favours - no matter who they are.
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Oct 25, 2018 07:01pm
@Rafiq They already pay taxes in that country.
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Oct 25, 2018 07:17pm
@My Comments Good comments. Running after laundered money parked in real estate abroad is a long haul preposition. The need is to plug all these loopholes such as illegal money changing houses, Hawalla & Hundi operating houses & human carriers still in vogue causing flight of FE capital from this cash strapped country. The latest JIT report of finding bogus accounts through which PKR 54 B has been laundered abroad, is just tip of the iceberg, clearly showing the tanticles of our corrupt Mafia running deep into the country economic management system, made possible through connivance of bankers, industrialists, businessmen’s, govt. officials within the country and at its airports & others. We need to need to dismantle this cobweb of corruption to reach to the real actors which keeping in view our limitations, is a gigantic undertaking. The latest clear and loud assertion by our PM, carries a ray of hope that once provided a direction and patronage, this evil can be rooted out for good.
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Oct 25, 2018 07:25pm
@Patriot What was there to loot? Country has never generated enough income and surviving on external aid throughout.
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Oct 25, 2018 07:28pm
100 billion dollar? hardly possible. With this money people can even fight in any court and any country. We have seen previously that our higher ups are very bad in counting. Some examples are 1000 million, 3000 billion, 2800 million billion etc; it looks like more an Indian drama dialogue than any factual figure. The SC, at least, shouldn't remind us of any drama, I believe.
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Oct 25, 2018 07:55pm
@Anti-Corruption_Pakistani Very well said brother, While endorsing your very forceful comments, I may add that the govt. may also plugin ongoing flight of FE capital through illegal money changing outlets, Hawalla & Hundi operating houses and human carriers. Unless that is not done, this shady business of transfer of illgotten money through our corrupt fast and furious will continue to remain unabated.
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Oct 25, 2018 07:56pm
If people opted for the previous government's amnesty scheme, then it is dishonesty of the Government to betray their faith and call them to surrender what they disclosed under the Government's amnesty scheme.
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Oct 25, 2018 07:56pm
Some belong to pti too. So name and shame them.
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Oct 25, 2018 08:24pm
Why not all of them? Why only 20?
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Oct 25, 2018 08:25pm
The only way to recover the stolen money is to put the looters in jail, confiscate their CNICs, passports and also place them on ECL.
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Oct 25, 2018 08:35pm
When we have corrupt like Nawaz Shreeif and Zardari running the country other corrupt get bold also. It is hard to recover those properties but can be done by talking to these countries.
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Oct 25, 2018 08:52pm
sorry to say if no paper work or good paper work then you can not find any one. Only KSA way is useful.
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Oct 25, 2018 09:07pm
What does this mean? 20 Pakistanis who own property abroad could be honest people too, who have purchased legitimate assets. SC should direct that illegal properties abroad owned by 20 Pakistanis , should be identified and evidence presented before the court.
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Oct 25, 2018 09:25pm
The 20 people are going to hear a life-changing lecture on 1st Nov, after which they are likely to give up their worldly ambitions and resort to caves for life of contemplation and peace..
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Oct 25, 2018 09:29pm
@Danish Very easy to get huge amounts of foreign exchange. You can over invoice or under invoice to obtain rebates or straight cash.
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Oct 25, 2018 09:59pm
Aleema khan name is also in the list
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Oct 25, 2018 10:14pm
Asif Zardari own multimillion dollars worth of properties
Hope he was in the list
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Oct 25, 2018 10:17pm
Start off with chaudhry Iftikhar and his son so that a clear message goes out that supreme court will hold everyone accountable this will also set an example for the rest
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Oct 25, 2018 10:26pm
Did they actually get anything from Malik Riaz who could build the dam solo.
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Oct 25, 2018 10:27pm
And the circus goes on ...
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Oct 25, 2018 10:56pm
That's how you scare any potential investors in Pakistan. All these people will sell whatever they have in the country and leave. Also, what proof does FIA have that those 100B is all black money?
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Oct 25, 2018 11:19pm
@Ayesha Question here is that had it been legal money, these fast & furious should have paid due govt. taxes on it. Further, legal money has venues to be transferred such as banks, which in not the case. By going for amnesty & paying 5% shows intents of these so-called people to make black money into white. Please avoid to be advocate of these corrupt who are cause of a booming parallel black economy resulting in flight of billions in FE to be parked in real estate abroad, while majority of our low income groups & poor are scavenging for a decent meal a day for themselves & their families. The CJP is right in saying that with such money this cash strapped country does not need go begging for donations etc to build a dam. Enough is enough, we need to save future of our 64% youth making bulk of population as well as coming generations to stop this plundering by these powerful, well connected, & influential lot by making them cough out nation’s stolen money, by showing no mercy whatsoever
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Oct 25, 2018 11:35pm
I heard that zaradari dinning table cost £120,000 an Italian design, I also heard both zaradari and nawaz through friends and themselves spent in excess of £25 million on gold watches diamond encrusted. Ask harrods and selfridges.
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Oct 25, 2018 11:56pm
@Harrt Jam
It's not just a matter of owning properties overseas. These 20 individuals benefited from Nawaz gov tax amnesty scheme meaning they got the money out of Pakistan without paying taxes.
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Oct 25, 2018 11:57pm
@Himmat : I agree. A country of 200 millions have exports only of 20 billion dollars. Their imports are 55 billion dollars. They have one of the worst tax to gdp ratio. They import 8 billion dollars of arms & weapons, 13 billion dollars of fuel. They import billions of dollars of kitchen & toilet stuff. They import cars, jewllery, designer cloths, watches and shoe. They give 11 billion dollars to their army without asking any question and addtional few billions to pay for their pensions. Their doctors and engineers graduated from free universities while driving cars imported from Japan and Europe.
Yet the complain that someone has looted their money!!!
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Oct 26, 2018 12:03am
Some of them are protected under the present laws, only the CJP can determine what would be the next step if they can legally buy, others, they need to be investigated like all others and pay their dues if they haven't. But there is no law that keeps them from buying properties outside Pakistan if they have done so in a legal manner.
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Oct 26, 2018 01:20am
First public all the names and the property values so we all know who they are then start investigation. Just do this then we know that you are serious otherwise it is as usual bs & talk.
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Oct 26, 2018 01:27am
i own a property in US, do I need to appear before the SC?
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Oct 26, 2018 02:07am
Is supreme court of Pakistan becoming executive authority or NAB? This work is important but it should be done by Attorney General or NAB.
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Oct 26, 2018 02:08am
Please first focus on properties in Pakistan!
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Oct 26, 2018 03:24am
@jamal when General Musharraf sacked him in 2007, people, lawyers and the media hailed the chief justice as a hero, Musharraf had been right all along,yet everyone is silent now, even Imran Khan.ex chief justice and his son are enjoying immunity at this point of time.
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Oct 26, 2018 03:34am
Good way to boost morale of Pakistanis living abroad and. Fantastic way to attract investments and build infrastructure. The chief judge could soon be the economic stalwart leading Pakistan out of The morass.
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Oct 26, 2018 04:35am
FIA is even following up with Non resident pakistanis on how they made their property outside pakistan. Asking People who are non resident and earned money outside Pakistan and bought property after leaving Pakistan is not the right approach.
Just gives the NRP another reason not to come back or send money back home.
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Oct 26, 2018 06:19am
Good luck to CJP; due to the circularly law loopholes - I bet nothing concrete can be expected - not in the near future - say for next two years at least. So many so called ex-leaders and military brass higher-up own properties overseas. Judiciary, in the end will be politely advised not to pursue the matter - they will listen to force. And we will continue to ask money from the 'givers' - who will continue to ask to 'do more' and more for them.
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Oct 26, 2018 06:44am
We all know 10 on that list are Zardari and his family members and the other 10 are Nawaz and his family members.
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Oct 26, 2018 06:46am
Is there some institutional Srandard Operating Procedure (SOP) for taking up such issues. If there are then some should be adhered to.
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Oct 26, 2018 07:40am
FIA will present 20 people in court, then what? They will not pick big fish, rest assured. Will make fool of CJP. I am surprised why not first clean Pakistan. Everybody knows how people sitting in parliaments have gotten rich. You find corrupt everywhere in public offices.
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Oct 26, 2018 08:01am
According to the AG, they can not arrest such under law, so, what law is required and if not then that means they are legal buying. No question of any case.
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Oct 26, 2018 02:03pm
@M. Saeed "The CJP said that, Pakistanis are estimated to have properties valued at about $100 billion and a dam could be built in Pakistan with such a huge amount. In fact several dams could be built."
CJP is great. He has almost solved one of the biggest problem This money will also pay off some of the loans.
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Oct 26, 2018 03:16pm
@M. Saeed A hundred billion dollars is an exaggeration. Pakistan's total debt is approximately $100 billion.
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Oct 26, 2018 05:40pm
The major part of this illegal Dubai and international investment comes from bureaucrats and other "establishment" servants. Also we could not hear the balance of 400 plus Panama offshore co-holders,
While in Pervaiz Musharaf tenure a list of about 700 Incomtax FBR , Customs corrupt personnel was issued, but lately, NAB brushed it under the carpet.
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Oct 26, 2018 08:15pm
Last thing Nawaz Sharif crony PM Abbasi did was to give this amnesty scheme to the Thieves of Nation !!
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Oct 27, 2018 12:49pm
If you can't get Ishaq Dar back then it is futile to chase anyone else.
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