News Column

Pakistani Minister Says $200 Billion Hidden In Switzerland

May 10, 2014



May 10, 2014

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

Copyright (c) 2011. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W.Washington DC 20036. www.rferl.org


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