The Chairman FBR says there was nothing illegal the way money was sent abroad in the past by many persons nor was it illegal if they bought property there by it. Money is still being sent abroad and this money transaction is duly covered by the Foreign Currency Accounts Ordinance 2001. The State Bank, however, holds a different view. The question is that if on any issue there is divergence of opinion between two important financial institutions of the country shouldn’t somebody in parliament raise this question and ask the PM to clarify the position?The other question which needs an answer from the Treasury benches is that whose brainchild was this Ordinance which legalised an highly illegal act?Their names need to be exposed. The other related question is that what precludes the government from striking down this highly dangerous Ordinance ?
It is unfortunate that the UAE and Malaysia are not providing us data of the properties bought there by the Pakistanis.
Legislation is a very serious and sensitive business which requires a lot of brainstorming and in normal course of things before passing any law or Bill parliament goes through it a couple of times in order to ensure that there is no legal lacuna in it and it doesn’t violate any human right. The way the government railroaded about dozen new bills in the national assembly the other day was deplorable. Small wonder the opposition took it seriously and it has decided to move a no-confidence motion against the deputy speaker of the National Assembly.
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