Pakistanis get good news from UAE government

[war&peace]

It is not up to the UAE to return anything without legal proceedings. GoP has to provide evidence that this wealth was gained from illegal means. To date despite details being handed over to Special Assistant to the Prime Minister on Accountability Mirza Shahzad Akbar, no progress has been made.

Btw this figure of US$150bn is grossly exaggerated.

Yeah I personally think it is exaggerated. It can't be $150 billion...may be around $149,999,999,999.00 and they rounded it off to $150 billion.

 

[nahtanbob]

Its efforts like these which makes me optimistic and hopeful about this government. Previously no one use to even bother about these Pakistanis.

It does not matter to me that they are in prison. the real issue is that why are they in prison ? What was the evidence against them ? What was the legal aid they received ? Was the sentence proportionate to the crimes ??

We love you UAE , if you return this wealth to Pakistan, it belongs to people of Pakistan ... otherwise UAE will be Pakistani partner in FATF.

Pakistanis own assets worth $150bn in UAE, SC told
Haseeb BhattiUpdated September 03, 2018
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The Supreme Court was told on Monday that Pakistanis own around $150 billion worth of properties and assets in the UAE alone.

The revelation came in a report compiled and presented in court by chartered accountancy firm A.F. Ferguson. The report was submitted in connection with a SC case on Pakistani nationals' properties and bank accounts abroad. The firm, however, cautioned that the data be 'handled with care'.

"Such a massive amount is still parked abroad despite the amnesty scheme?" Chief Justice Mian Saqib Nisar asked those present.

State Bank of Pakistan (SBP) Governor Tariq Bajwa briefed the apex court on measures taken to recover the identified funds, saying: "Notices have been issued to the 125 people who have assets in the UAE. If they write on affidavits that they do have assets outside of Pakistan, we will interrogate and tax them. But if they deny that, then we can take the help of the UAE government and ask them to take action in accordance with benami properties law."

The SBP governor said that the Federal Investigation Agency (FIA), the National Accountability Bureau (NAB) and other agencies' assistance had also been sought.

The chief justice expressed his dissatisfaction on the progress of the case, remarking that those concealing their assets abroad qualify for money laundering trials.

Shabbar Zaidi, the audit firm's chief, told the court that wealth is transferred outside Pakistan via two channels: "Havala and banking routes".

As regards the latter, he said: "Funds are moved abroad by showing it as agricultural income."

At this, Justice Umar Ata Bandial asked the SBP governor if a ban has been placed on transferring foreign exchange outside Pakistan.

"Only a sum of $10,000 is permitted to be taken outside of Pakistan," Bajwa said.

The SBP governor further said that a separate list of 225 Pakistani nationals who have properties in London has also been obtained.

Meanwhile, Attorney General Mansoor Ali Khan assured the court that the new government is "serious about bringing back the money".

"A task force has been formed under the PM's stewardship," the attorney general said. "The govt wants the apex court to provide guidance in this regard."

While the Ferguson reported the figure of Pakistani-owned assets in the UAE at around $150bn, the FIA's summary, mentioned in the written order later in the day, put the assets' worth at $110bn.

do people like pulling numbers out of the air ??
There are 1 million Pakistanis working in Dubai. If they have an average bank account of $150,000 it will be $150 billion

 

[war&peace]

do people like pulling numbers out of the air ??
There are 1 million Pakistanis working in Dubai. If they have an average bank account of $150,000 it will be $150 billion

If you don't know anything then it is better to stay silent and furthermore, this is none of your business and if you can't do some research or ask the members politely then I would say better spend your time on some other more relevant thread.

 

[Khafee]

Yeah I personally think it is exaggerated. It can't be $150 billion...may be around $149,999,999,999.00 and they rounded it off to $150 billion.

Dont undermine your credibility by making such statements.

 

[nahtanbob]

If you don't know anything then it is better to stay silent and furthermore, this is none of your business and if you can't do some research or ask the members politely then I would say better spend your time on some other more relevant thread.

even the most corrupt rulers Marcos, Suharto, Mobutu had illegal wealth in the $5-30 billion range
To claim $150 billion as corrupt money defies imagination.

Unless the corrupt were smart and invested in Facebook IPO
If they were that smart they would not be looting your country

 

[Fledgingwings]

May they return home safe and soon.