Imran Khan gives 2-week deadline to recover stashed moneyANI Aug 28, 2018

Islamabad, Pakistan: Fulfilling his poll promise to clampdown on corruption, Pakistan Prime Minister Imran Khan on Tuesday gave a deadline of two weeks to a task force to chalk out a plan to recover unlawfully acquired foreign assets and stashed wealth.

On Monday, the task force chaired its first meeting, where various government departments informed the unit of the current status of pending probes of money laundering and financial fraud cases, officials were quoted by The Express Tribune, as saying.

Khan has said that his topmost priority is to retrieve hidden offshore assets and promised to bring back ill-gotten wealth in overseas banks.

According to the terms of reference (ToR) of the task force, Khan has set a deadline of two weeks for the body to take steps for the “expedient return of unlawfully acquired assets from abroad”.

Meanwhile, the chairman of the task force has directed Pakistan’s Finance Ministry to share earlier reports prepared by the committees set up under the purview of the country’s Supreme Court to recover the unlawfully acquired foreign assets.

The task force has been asked to review all cases of financial fraud pending before the government departments and organisations. The body will also be responsible for the investigation of the existing mechanism, international agreements, working out modalities to fast-track the recovery of ill-gotten wealth and undeclared offshore assets, and ensuring coordination of the Pakistan government with other governments on the same, The Express Tribune report said.

Recently, Pakistan gave its citizens the last opportunity to declare their wealth and offered them offshore and domestic tax amnesty schemes. While over 5,000 people availed the offshore scheme and declared over USD 8 billion assets, the repatriation to the country was less than USD 70 million.

On August 19, in his first address to the nation after being sworn-in as Pakistan’s prime minister, Khan vowed to tackle corruption and said that he would form a task force to bring back swindled money to the country. (ANI)

This entry was posted in Pakistan Politics. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

  •  
  • Get Your Copy

  • Like Us On Facebook

  • Join us


  • Cover Reviews

    "Nafisa Hoodbhoy’s detailed reporting helped me look at the complex world of Pakistani politics differently. Hoodbhoy’s proximity to key players...

    Karen Frillmann
    Managing Editor - Newsroom, New York Public Radio

    "It was her fierce independence and commitment to her country that inspired [Hoodbhoy’s] decision to become a newspaper reporter –...

    Frances Stead Sellers
    Deputy National Editor, Health, Science and the Environment, The Washington Post

    "A powerful and courageous voice that represents the best of Pakistan’s emerging journalism… The first insider view of developments in...

    Shuja Nawaz
    Author and Director South Asia Center

    "A story of a courageous journalist who defied conventional norms during times when very few other women were in this...

    Hassan Abbas
    Author and Quaid-i-Azam Chair Professor

    Read all

  • Topics

Website By Signin Group