Swiss authorities contacted to recover $200bn of Pakistanis: Dar

[Hyde]

Swiss authorities contacted to recover $200bn of Pakistanis: Dar

It was stated in a written reply submitted by Ishaq Dar in National Assembly on Friday.

ISLAMABAD (Dunya News) - Finance Minister Ishaq Dar has said that the government was making efforts to recover money deposited by Pakistanis in Swiss Banks illegally.

It was stated in a written reply submitted by Ishaq Dar in National Assembly on Friday.

He said the government was in contact with the Switzerland government to recover two hundred billion dollars deposited illegally by Pakistanis in Swiss Banks.

Parliamentary Secretary for Finance Rana Muhammad Afzal Khan told the House during Question Hour that the cabinet has approved a summary to renegotiate the existing Pakistan-Switzerland Tax Treaty.

The renegotiation of this treaty will help identify those Pakistanis who have illegally stashed away their money in the Swiss banks.

Parliamentary Secretary for Finance told National Assembly that money had been stashed away in Swiss banks.

Source: http://dunyanews.tv/index.php/en/Pakistan/221470-Swiss-authorities-contacted-to-recover-200bn-of-P

 

[khanboy007]

I hope it goes ahead, rather than sticking to the papers !!!!!

for the current situations (loans, electricity shortage etc) 200 billion dollars aint a small amount and that too illegal money !!!!!

 

[Hyde]

Pakistan delegation to visit Switzerland to up grade Pak-Swiss tax treaty

ISLAMABAD: A Pakistani delegation would visit Switzerland from August 26 to 28 to negotiate with Swiss authorities to upgrade the existing Pak-Swiss Tax Treaty, Parliamentary Secretary for Finance Rana Muhammad Afzal Khan said Friday.

Answering the question of Pakistan Tehrik-e-Insaaf’s Dr Arif Alvi, he said the up gradation of treaty would pave way to exchange confidential information about ill-gotten monies stashed up in clandestine Swiss banking industry.

He said the detection of account numbers of Pakistanis would help improving the health of country’s economy. According to Swiss authorities around 200 billion dollars – the ill-gotten money of various Pakistanis were currently stashed in 11 Swiss banks.

According to survey a total of 32,000 billion dollars have been deposited in Swiss banks by tax thieves from across the country.

He said federal Government is seriously working to seek help of new Swiss laws popularly known as The Restitution of Illicit Assets Act 2010 (RIAA) that allows Swiss Government to exchange confidential information about ill-gotten money stashed up in the clandestine Swiss banking industry.

He said the operation design through which advantage of the changes in Swiss laws can be taken is by amending/renegotiating the existing Pak-Swiss Tax Treaty.

Source: Pakistan delegation to visit Switzerland to up grade Pak-Swiss tax treaty | AAJ News

 

[Amaa'n]

So comparing 32,000 billion to 200,is like a pinch of salt, which will help them getting praised in the eys of aam janta....

 

[Hyde]

I hope it goes ahead, rather than sticking to the papers !!!!!

for the current situations (loans, electricity shortage etc) 200 billion dollars aint a small amount and that too illegal money !!!!!

I think it is just an attempt to diffuse the May 11 protests. A delegation will visit Switzerland in August, then keep visiting for many years and by the time we come up with a good news, most of the black money may be withdrawn already

 

[Mav3rick]

So comparing 32,000 billion to 200,is like a pinch of salt, which will help them getting praised in the eys of aam janta....

32,000 Billion USD is equivalent to 32 Trillion USD, right?

Is that even possible???? No it is not!!!

 

[rockstar08]

nothing but a try to divert peoples attention... who will bring money from Nawaz and zaradri when they are already in govt

 

[Bilal.]

$32 trillion is the right amount but it's not for Swiss banks, instead, that's the amount estimated for off shore tax havens around the world. Swiss banks are not as secure any more for these gators.

 

[Audio]

If Pakistani's have 200 bill.$ stashed, you can be sure the total sum is not 320 bill$, but much more.

And, you best make a very convincing case for repatriation of that money, because if anything is unclear in regards to ownership, Swiss bankers are more then happy to keep it. It's tradition.

 

[madooxno9]

$32 Trillion Not possible . Please get back to your senses

 

[Audio]

$32 Trillion Not possible . Please get back to your senses

World GDP is somewhere around that mark. And that in a single year. I don't find it hard to believe that over the decades there would not be a really substantial amount of money tied to various offshore tax havens and countries with bank secrecy.

 

[Bilal.]

$32 Trillion Not possible . Please get back to your senses

$32 trillion is the sum total of all tax evaders from all over the world stashed in all tax havens of which Pakistanis are estimated to have $ 200 billion. The reporter mixed up.

Super rich hold $32 trillion in offshore havens| Reuters

 

[Luftwaffe]

Next to impossible to bring $200B back to Pakistan, dollar dar and lot from various political parties have already moved their money to U.A.E, UK, KSA. Switzerland makes money upon money with such bank investments why do you think they'll damage their financial balance sheet.

50,000 US citizens have accounts in Switzerland US is unable to get that money.

 

[khanboy007]

I think it is just an attempt to diffuse the May 11 protests. A delegation will visit Switzerland in August, then keep visiting for many years and by the time we come up with a good news, most of the black money may be withdrawn already

Next to impossible to bring $200B back to Pakistan, dollar dar and lot from various political parties have already moved their money to U.A.E, UK, KSA. Switzerland makes money upon money with such bank investments why do you think they'll damage their financial balance sheet.

50,000 US citizens have accounts in Switzerland US is unable to get that money.

Yeah it could be a political hype......

 

[Luftwaffe]

Yeah it could be a political hype......

Indeed! Before going to Switzerland why don't NS family, dollar dar, zardari bring back their money. Dollar dar has health multibillion dollar business in U.A.E and NS is already building twin tower skyscraper in London worth almost $500m or even more...