Finance Minister Ishaq Dar has claimed in an interview recently that the notorious Swiss bank accounts details will be exposed to public. He stated that those Pakistanis’ having billions of rupees in their Swiss bank accounts will be scrutinized and prosecuted accordingly.
Initially, Swiss officials were not willing to share this confidential information but in his interview Dar affirmed otherwise. He clearly said that Switzerland and Pakistan have reached a consensus regarding information sharing on Pakistani accounts in Swiss banks.
Moreover, he was of the view that officials from both countries have drafted and finalized the first agreement. He added:
“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”
No further IMF support needed
Although Pakistan has long been indebted by international agencies but current government doesn’t intend to take any further assistance from International Monetary Fund (IMF). Finance Minister is confident and hopeful that Pakistan doesn’t need any more aid by IMF in the near future.
Dar also mentioned his government’s contribution in improving the economic situation of Pakistan. He said currently country’s foreign exchange reserves stand at its all-time high of $23 billion.
The minister further stated:
“When our party came to power this figure was at $6 billion and we had to clear $2.8 billion by the subsequent February. Pakistan required this program at that time because the predictable reserves were not sufficient enough to return the previous loans”
An amount of $4.5 billion has also been paid to IMF and further funding will be avoided in the future.