ISLAMABAD: The business community is demanding new amnesty scheme for their foreign assets.
This was disclosed by Minister for Law and Justice Zahid Hamid while winding up a discussion on an adjournment motion moved by MQM lawmaker Muhammad Ateeq Shaikh about the new amnesty scheme in the Senate.
The minister, however, said that nothing in this regard has been finalised yet. He said that Federation of Pakistan Chamber of Commerce and Industry (FPCCI) had recently called for an amnesty scheme for the assets held abroad.
The minister said such schemes had been successful in countries like Indonesia and India where the respective governments legalised undeclared assets worth billions of dollars.
Zahid Hamid also commented on the issue in the perspective of a recent international agreement among 105 states that relates to declaring assets and accounts of nationals of a country, in another country.
The minister said, once this agreement is materialised, the information about assets and accounts abroad will automatically start to flow to the countries of origin of those nations who hold accounts and assets abroad.
However, he clarified that nothing has been finalized yet on this issue although it has been recommended to the government by the Standing Committee as well as the FPCCI.
Earlier speaking on the motion, Senators Muhammad Azam Khan Swati and Syed Tahir Hussain Mashhadi opposed any amnesty scheme and said that these will only promote corruption. It would help the tax evaders to get their black money whitened and would further worsen the condition of poor people in the country, they added.
