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Pakistanis own $150 billion lying in foreign bank accounts and are earning peanuts in the wake of lower interest rates, says the former FBR chief. ....
Top Story December 30, 2020 ISLAMABAD: Former chairman Federal Board of Revenue (FBR) Shabbar Zaidi has made a startling disclosure that $150 billion owned by Pakistani businessmen are stashed in foreign bank accounts, earning meagre profits because of lower interest rates. “Pakistanis own $150 billion lying in foreign bank accounts and are earning peanuts in the wake of lower interest rates. Now the time has come in the wake of a changed scenario worldwide when these businessmen will have to think to bring back this huge money,” Zaidi said in a webinar organized by the Positive Media Communication on Tuesday. Recalling his meeting with one of renowned businessmen where he mentioned those Pakistanis who had stashed massive money in dollars abroad in countries like Malta and others, he said now he could foresee that the time has come when they would be invited to these countries to inform them that their money was seized by the respective governments. He said h ....