Finance Minister Ishaq Dar stated on Tuesday that those who have billions of rupees in their Swiss accounts will no longer be able to escape the law, as all the details of their accounts will be revealed to the public.
Recently when he was interviewed by Geo News, Dar said that Switzerland and Pakistan have reached an agreement pertaining to information sharing on Pakistani accounts in the Swiss banks.
The minister said that officials from Switzerland and Pakistan have finalized the first draft of the accord.
“Initials of the two parties have been put on the draft proposal, while the signatures are yet to be done and will be put down once they have completed their internal code formalities.” – Ishaq Dar
He continued by saying that the government doesn’t intend to take any additional help from International Monetary Fund (IMF).
The finance minister also added that he believes that no further IMF support will be required by Pakistan in the future.
He said the foreign exchange treasury in Pakistan is currently at its highest ever number at US$23 billion. “When our party came to power this figure was at US$6 billion and we had to clear US$2.8 billion by the subsequent February.”
The minister also said, “Pakistan required this program at that time because the predictable reserves were not sufficient enough to return the previous loans.”
Coming down to IMF program, he stated that US$4.5 billion has been paid off so far to the monetary agency.