Pakistan

ISLAMABAD (Web Desk) – Federal Minister for Law and Justice Zahid Hamid said on Thursday that the government was trying to engage the Swiss government in order to access details of Pakistani account holders, who have reportedly stashed away $ 200 billion in Swiss banks.

Replying to a question in the Senate on behalf of the finance minister, he said the government was seeking to use the new Swiss banking policy under which the Swiss government may now exchange previously confidential details about ill-gotten money stashed away in the Swiss banking sector.

He said that exchange of tax information was the new mechanism for catching tax-evader and beneficiaries of corruption who hide their ill-gotten wealth in Swiss Banks and other financially secretive tax havens.