Citizens’ assets abroad: SC summons SBP governor, finance secy
LAHORE: The Supreme Court on Monday summoned the governor of State Bank of Pakistan (SBP) and federal finance secretary to explain what steps were taken for encouraging people to declare their foreign bank accounts and assets accumulated abroad.
Earlier, a three-judge bench headed by Chief Justice of Pakistan Mian Saqib Nisar expressed displeasure over non-appearance of the SBP governor and secretary.
The chief justice observed that the court was dealing with an important case and the SBP governor and the finance secretary did not bother to attend the proceedings. Justice Umar Atta Bandial and Justice Ijazul Ahsan were the other members on the bench. Federal Board of Revenue (FBR) Chairman Tariq Pasha and a director of the SBP were present in the court.
The bank’s director stated that the governor was in Karachi and would be able to appear in court on the next hearing.
An additional attorney general urged the bench to put off the hearing for a day after the Eidul Fitr holidays so that a comprehensive representation could be submitted on the matter.
However, the bench rejected the request and sought appearance of both the SBP governor and finance secretary after two hours. Later, the bench adjourned hearing for Tuesday (today).
During Monday’s hearing, Chief Justice Nisar regretted that every newborn in Pakistan was under huge loans due to wrong policies of the governments. “Dams are not being built, standard of education is going down, garbage is being disposed of into sea but people are allowed to take their money abroad unchecked,” lamented the chief justice.
To a court query, the FBR chairman disclosed that Rs100 billion had been paid to tax filers under the head of sales tax return, however disbursement of Rs105 billion was still pending.
Chief Justice Nisar also expressed concern over decreasing exports and rampant smuggling in the country. FBR chief Pasha sought permission to give an in-camera briefing to the judges on the issue of smuggling, which was allowed by the chief justice.
During the hearing, the chief justice also dispelled an impression as if the court was against any tax incentive schemes of the government. He noted that the court had not so far received a copy of the amnesty scheme announced by the former government.
Meanwhile, the bench directed chief secretaries of all provinces and chief commissioner of Islamabad to submit reports about implementation of a 2014 Supreme Court judgement requiring steps towards ensuring religious harmony, protection of minorities and others.
The Human Rights Commission of Pakistan, Centre for Social Justice, Cecil and Iris Chaudhry Foundation and others had sought implementation of the judgement passed by a bench headed by then chief justice Tassaduq Husain Jillani.
Lawyers on behalf of the petitioner organisations questioned the failure of the government to implement the judgement.
Chief Justice Nisar expressed dissatisfaction over the non-compliance and directed chief secretaries of all provinces, chief commissioner of Islamabad and secretaries of the ministries concerned to present a report within 15 days.
Published in Dawn, June 12th, 2018