ISLAMABAD: In a dramatic and high-stakes development, the Federal Board of Revenue (FBR) has initiated a sweeping investigation into the foreign assets of a former governor of the State Bank of Pakistan (SBP) — a figure who once held one of the most powerful economic positions in the country.
According to well-placed FBR insiders, the probe was launched by the Automatic Exchange of Information (AEOI) Zone of the Large Taxpayers Office (LTO) Karachi. The investigation aims to scrutinize the offshore wealth and income of the former SBP governor, using international data-sharing treaties to access confidential financial details from foreign jurisdictions.
The FBR’s audit of the former SBP governor’s tax affairs is already underway, with formal requests dispatched to various countries seeking disclosure of offshore assets and undeclared income.
Sources say that if even a single instance of concealment is uncovered, it could trigger a massive scandal with serious implications—not just for the individual involved, but also for public trust in Pakistan’s top institutions.
The SBP governor holds immense influence as the chief executive of Pakistan’s central bank, entrusted with steering the country’s monetary and financial policy. As per the SBP’s official mandate, the governor is appointed by the President of Pakistan and serves a renewable five-year term, wielding authority over the nation’s economic stability.
This aggressive move by the FBR forms part of a broader crackdown targeting Pakistan’s elite, especially those with unreported offshore wealth. The inquiry into the former SBP governor is viewed as a test case in the government’s intensified campaign against illicit financial flows and tax evasion.
Sources further revealed that the FBR is leaving no stone unturned in this politically sensitive case, and the outcome could reshape the narrative around accountability in high office. If damning evidence emerges, the former SBP governor could face severe legal and financial consequences, possibly setting a precedent for future probes into elite corruption.
The nation now watches closely as the FBR tightens its net around one of Pakistan’s most high-profile former SBP governors.
