Undeclared foreign assets: NAB hints at probing persons to be reprieved under amnesty

The Director General, National Accountability Bureau, Karachi, Altaf Bawany, on Thursday hinted at initiating investigation against the individuals who would be reprieved under upcoming much-awaited amnesty scheme on undeclared foreign assets. Speaking at a seminar on "the role of business community in curbing the menace of corruption" jointly organized by NAB Karachi and Karachi Chamber of Commerce and Industry (KCC&I) held at Karachi chamber, he said that amnesty schemes do not restrict NAB officials from asking questions or initiating investigations about undeclared moveable and immoveable assets from privileged persons as such schemes were only aimed at granting tax relief to the individuals and termed the same as ideal cases for the bureau to initiate corruption investigations.
He said that sections 33B and 33C of the NAB Ordinance 1999 empowers NAB officials to monitor the rules and procedures of government departments to plug loopholes that encourage corruption; adding that the government departments were bound to implement NAB's recommendations for the improvement in departmental rules and procedures.
Furthermore, he said that the Bureau has so far accomplished its study on health and education departments and the same was underway in revenue department, which would later be extended to the Sindh Building Control Authority (SBCA). DG, NAB Karachi, said that around Rs 280 billion were recovered since the inception of NAB in 1999 of which Karachi bureau had deposited Rs 30 billion into the national kitty.
He also held business community responsible for promoting need-based corruption. Bawany said that as per international study, corruption adds by 10 percent to the cost of doing business; however, it adds at least 20 per cent to the cost in Pakistan due to rampant corruption. He also requested the business community to lodge complaints against its officials, if they were found involved in illicit activities for undue gains.
In his inaugural speech, Muffasar Atta Malik, president KCC&I said that Pakistan ranked 117 among 180 countries in the latest corruption index; adding that bad governance, culture of non-accountability were some of the major causes contributing to flourishing trade of corruption in the country.
He urged the authorities concerned to minimize human interaction, promote automation, and create public awareness and strictly implement laws to eradicate this menace which has rocked the foundations of our society. Meanwhile, Siraj Kassim Teli, chairman, Businessmen Group, said that although businessmen, politicians, bureaucrats and armed forces personnel are equally involved in laundering money, it is just the businessmen who bear the brunt for having lawful but untaxed income and only they (businessmen) were being squeezed and pressurized by the authorities which he termed as unjustified.
He alleged that Federal Board of Revenue (FBR) made amendments in laws not for improving the culture of taxpaying but to create hurdles for business community to get undue gains. He requested the DG NAB, Karachi, to get the information right before initiating investigation against any businessman and offered chamber's full support to nab any black sheep in the business fraternity. He further urged to take the business and industrial community on board whenever NAB was dealing with issues related to any businessman or industrialist. Anjum Nisar and Zubair Motiwala also spoke on the occasion.