Islamabad March 21 (TNS): As US dollar is hitting all-time high of Rs116 in the open market, the government is expecting to bring back around $5 billion dollars by offering an amnesty scheme to those who have stashed their ill-gotten money abroad.
According to an estimate, Pakistanis hold around $130 billion money in foreign countries and they have invested the ill-gotten money in businesses and properties besides keeping them in banks and other firms.
Senator Haroon Akhtar Khan, who is also an aide to the prime minister on the economy, said that the government could bring back to billion through the proposed amnesty scheme.
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He said that repatriation of all the ill-gotten wealth was impossible, however, a fraction of this wealth could be brought back through the proposed offer.
He said that the FBR has set the revenue collection target of Rs4.43 trillion for the fiscal year 2018-19, which was, according to him, was Rs437 billion higher than the target.
The Supreme Court has already formed an experts’ committee to suggest ways and means to retrieve the money stashed abroad and plug loopholes to stop the future flight of capital from the country.
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