General

SC adjourns foreign assets case for a month

The Supreme Court (SC) on Monday adjourned the hearing of the suo motu case pertaining to foreign properties owned by Pakistani nationals.
The case will be heard after a month.
During the hearing, a three-member bench led by Chief Justice Saqib Nisar was informed by the Federal Board of Revenue (FBR) that Rs270.25 million had been recovered during the last month and Rs17 million would be recovered during the current month.
“The Federal Investigation Agency (FIA) had provided us data of 895 individuals – out which 16 had availed previous government’s Tax Amnesty Scheme,” the FBR official added.
Unsatisfied by the board’s slow performance, the chief justice remarked that it had been a year to the tax amnesty scheme.
When the FBR official informed the apex court that 125 individuals failed to appear before the investigation team, Justice Nisar warned to their seize properties.
The chief justice also asked for an estimated amount which will be recovered, to which the FBR official said the board expects to recover around Rs1 billion.
The bench wrapped up Monday’s proceedings by adjourning the hearing for a month and directing FBR to submit a report. It is pertinent to note that Justice Nisar is set to retire on January 17. After which, the bench will be reconstituted.