Pakistani minister says $200 billion hidden in Switzerland
| Publisher | Radio Free Europe/Radio Liberty |
| Publication Date | 10 May 2014 |
| Cite as | Radio Free Europe/Radio Liberty, Pakistani minister says $200 billion hidden in Switzerland, 10 May 2014, available at: https://www.refworld.org/docid/53a138a61b.html [accessed 5 June 2023] |
| Disclaimer | This is not a UNHCR publication. UNHCR is not responsible for, nor does it necessarily endorse, its content. Any views expressed are solely those of the author or publisher and do not necessarily reflect those of UNHCR, the United Nations or its Member States. |
May 10, 2014
Pakistani Finance Minister Ishaq Dar (file photo)
Pakistani Finance Minister Ishaq Dar has cited figures from Swiss government and banking officials that claim Pakistanis have illegally stashed some $200 billion in Swiss bank accounts.
Dar said in a written reply to the National Assembly on May 9 that "one of the directors of Credit Suisse AG stated on the record that $97 billion dollars' worth of Pakistani capital was deposited only in his bank."
Dar also wrote to the Pakistani parliament that former Swiss Foreign Minister Micheline Calmy-Rey said the total amount of Pakistani money hidden in Swiss bank accounts is some $200 billion.
Dar said in his statement the problem needs to be addressed immediately and noted that Pakistan's external debt is some $150 billion.
Corruption and tax evasion are major problems for Pakistan.
Based on reporting by dawn.com, nation.com, and dpa
Link to original story on RFE/RL website
