NA committee summons NAB chief over money laundering allegations against Nawaz
ISLAMABAD: Nationwide Meeting’s status committee for Legislation and Justice on Tuesday summoned the NAB Chairman Justice (retd) Javed Iqbal within the cash laundering probe in opposition to Nawaz Sharif.
The Nationwide Duty Bureau (NAB) leader was once ordered to seem sooner than the committee on Might 16 to, in individual, transient at the probe into allegations of cash laundering in opposition to the deposed top minister.
The committee additionally ordered the NAB leader to be accompanied through officials concerned within the probe.
The status Legislation and Justice committee had taken realize of some degree of order raised through PML-N meeting member Rana Hayat.
On Might eight, the anti-graft frame had ordered an inquiry in opposition to Nawaz and others for allegedly laundering $four.nine billion to India. Consistent with a NAB remark, the chairman took realize of a media document which made the claims mentioning a Global Financial institution document.
Then again, the Global Financial institution clarified that its document didn’t point out names or quantities, neither alleged cash laundering.
SBP rejects $four.nine billion remittances to India
In a press free up issued on September 21, 2016, the State Financial institution of Pakistan had rejected the estimates of $four.nine billion remittances from Pakistan to India.
“This quantity is given in Migration and Remittances Factbook 2016 ready through the World Wisdom Partnership on Migration and Construction (KNOMAD).”
The State Financial institution press free up added that the Factbook knowledge on bilateral remittance flows had been estimates and no longer the true flows which can be in keeping with quite a few assumptions concerning the migrant inventory, in keeping with employee source of revenue, and so on.
“The technique used to estimate those numbers is in keeping with a Global Financial institution’s Operating Paper through Ratha, Dilip, and William Shaw ( South-South migration and remittances. No. 102. Global Financial institution Publications, 2007). This technique has severe problems, specifically in case of Pakistan, as additionally stated through the authors themselves pointing out that “Deciphering the which means of migrant shares additionally gifts some difficulties. Pakistanis in India and Russians in Ukraine become migrants following partition of the unique nation.”
The State Financial institution thus concluded that the learn about was once obviously fallacious because the migrants on the time of Indo-Pak partition in 1947 had transform Pakistani electorate. The State Financial institution categorically rejected such estimates as there have been opposite to information and didn’t make sense.
Consistent with the State Financial institution, the true Steadiness of Bills knowledge confirmed that outflow of employees’ remittances from Pakistan to India was once $116 hundreds in FY16 and the inflows from India to Pakistan had been $329 hundreds. The price of Pakistan’s exports to India was once $425 million, whilst imports from India amounted to $1,415 million all through FY16.
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