Looted money to be brought back from abroad: Fawad Chaudhary

ISLAMABAD: Information Minister Fawad Chaudhary on Sunday expressed the hope that the money looted by corrupt politicians would be brought back from abroad, ARY News reported.

“The corruption has led to inflation, falling exchange rate of Pakistani rupee, and all sorts of issues faced by Pakistanis abroad,” Fawad Chaudhary said while addressing a news conference along with Minister of State for Revenue Hammad Azhar and Special Assistant to Prime Minister on Accountability Shahzad Akbar in Islamabad.

He said the Sharif family introduced the Economic Reform Act in 1992 to keep the source of capital hidden. He said it was found out that in late 1990s the Hudaibiya Paper Mills was involved in large suspicious transactions. He said the former finance minister Ishaq Dar introduced money laundering in the country, and he himself confessed his role in these transactions.

The minister said a very small capital of the laundered money had been brought to Pakistan by the Sharif family and the rest was still abroad.

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He said former president Asif Ali Zardari set up fake bank accounts in Sindh.

Speaking on the occasion, the special assistant to prime minister on accountability said fake companies were set up in Dubai to launder money.

He said members of the Sharif family were unable to reply to the queries of the National Accountability Bureau (NAB) regarding the corruption. He said nation wanted that accountability process reaches to its logical conclusion and the government was committed to bring back the looted money.

Shahzad Akbar expressed surprise over some suspects’ getting pre-arrest bail despite plethora of evidence. He was the NAB needed to improve its prosecution.

Minister of State for Revenue Hammad Azhar said Ishaq Dar was giving his opinion on current economic situation based on assumptions. “No independent economist has endorsed the policies of Ishaq Dar,” he said.

To a query, Chaudhry Fawad Hussain said Prime Minister Imran Khan was committed to rid the country of the menace of corruption and he was supported by the whole nation in this task.

“It is difficult in any country to bring influential personalities to book,” he said.