SC hears case on concealment of foreign bank accounts, recovery of looted money

ISLAMABAD: The constitutional bench of the Supreme Court of Pakistan (SC) presided over a case related to the concealment of foreign bank accounts, recovery of looted money, on Friday.

The apex court asked the Federal Investigation Agency (FIA) ​​and the Federal Board of Revenue (FBR) to submit a report on the concealed foreign bank accounts. The court also sought a report from the institutions concerned on the progress of return of the looted money.

Lawyer Hafiz Ehsan presented the facts of the case to the court and said that the Income Tax Act has been amended. “Actions are being taken on secret accounts and recovery under the legal process,” Ehsan said.

Justice Muhammad Ali Mazhar, presiding over the case issued orders to all agencies concerned, including the FIA and the FBR, to submit reports on the issue. To this the FBR’s counsel said that the matter pertains only to these two organizations and other authorities should not be involved.

The court responded that a report on the details of these accounts and money has to be submitted if the case is to be resolved.

The Supreme Court adjourned the hearing of the case for two weeks.

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