Borrowing by past govts to be probed: PM Khan
June 12 2019 10:22 PM
Imran Khan
Imran Khan: “Time for nation to stop glorifying money launderers...”


Pakistan Prime Minister Imran Khan has announced to constitute a high-powered commission to probe large volumes of foreign and domestic borrowing by previous governments.
In a televised address late on Tuesday, he said the commission will include representatives of Federal Investigation Agency (FIA), Intelligence Bureaus (IB), Inter-Services Intelligence (ISI), Federal Board of Revenue (FBR) and Securities exchange Commission of Pakistan (SECP0.
Imran said the foreign debts of Pakistan jumped to Rs30,000bn from Rs6,000bn in the last 10 years.
The prime minister said he would continue to carry forward the process of accountability without being pressured or blackmailed by his political adversaries.
He said his government had obtained information from abroad after reaching agreements with different countries on the basis of which they had traced out private accounts of non-resident Pakistanis with about $10bn in them in unexplained money.
The prime minister said when his party came to power, the current account deficit stood $19.5bn and the country was on the verge of default and the devaluation of rupee could have plunged the whole economy into turmoil. However, the economy had been made stable now.
He said he would work closely with the FBR chairman to collect taxes by removing procedural and regulatory bottlenecks. He appealed to the nation to pay taxes and avail a tax amnesty scheme that will lapse at the end of the month.
Meanwhile, in a tweet yesterday the prime minister said it is time the nation stopped glorifying money launderers who have caused damage to the country.
“Time for nation to stop glorifying money launderers who have damaged our nation and impoverished our people and now seeking refuge behind ‘democracy’. No protocol should be extended to them. Why are plunderers of public wealth given such special treatment? Time to treat them as criminals,” he added.

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