Money laundering and corruption

10 Feb, 2010

Apropos the controversy about Pakistanis with dual nationality, holding public office. There are many success stories of hardworking Pakistanis living in the UK, and Europe, who are today multi-millionaires. They pay taxes and are respected citizens of the countries of their adoption. The problem is with those involved in corruption in Pakistan who send this illegal Haram money abroad to buy real estate or to deposit it in bank accounts.
In a recent report by the American Bankers Association, based on bank accounts held by foreign nationals, it has been reported that Russian citizens top the list of bank account holders in the UK, followed by Pakistani citizens, Amongst the Pakistani nationals holding these multi-million pound bank accounts, civil and khaki bureaucrats top the list, followed by traders and then politicians. No wonder liberal policies have been framed and continue to be made to facilitate the illegal transfer of kickbacks and commissions by the bureaucracy, that has misruled this country for the longest duration of its 64 years chequered history.
However, the press in Pakistan has its guns pointed only towards the politicians, whilst the khakis and civil bureaucrats are conveniently let off the hook. Pakistan's Kashoggi - the legendary Niaz lives in the UK, where he facilitates others within the bureaucracy that have helped him over the years. While Pakistan's debt-burden rises, this money is siphoned off, along with remittances made by expatriate Pakistanis.
This criminal activity cannot be checked, unless it is ensured that people holding senior public offices are not allowed to hold dual residential status, along with their wives and dependent children. Laws have to be framed to prevent this crime, which threatens our national security. Traders and businessmen must be checked for over-invoicing their exports and imports.
Leading politicians must be made to revoke their foreign nationalities and declare all their foreign assets before assuming office or fighting elections. All foreign bank accounts and properties abroad must be substantiated, with sources of income with which these assets were collected. Money laundering is a very serious crime today, especially in the context of the curse of terrorism. Finance Minister Tarin needs to take strict measures to eliminate this flight of capital.
He needs to cleanse his ministry, the State Bank and National Bank of those involved in this crime, of which there are plenty. Our security departments must eliminate this curse by taking strict measures against the few rotten eggs within their ranks.

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