In a detailed response to a question raised by Dr. Arif Alvi in the NA, the Finance Minister Ishaq Dar quoted statements by a Swiss banker “One of the directors of Credit Suisse AG stated on the record that $97 billion worth of Pakistani capital was deposited only in his bank. Similarly, Micheline Calmy-Rey, a former Swiss foreign minister, is reported to have put the amount of Pakistani money hidden in Switzerland at $200 billion — a statement that was never contradicted,” he revealed. To put the enormity of this find into perspective, Pakistan’s total external debt stands at $150 billion and its gross domestic product is said to be around $300 billion. The country can, theoretically, pay off all its debt with the money in Swiss banks and still have nearly a quarter of it left over
Posted on: Sat, 10 May 2014 10:31:49 +0000
Trending Topics
Recently Viewed Topics
© 2015