SC seeks FBR, FIA reports on foreign accounts, recovery of embezzled funds  

Supreme Court bench clarifies suo motu powers; disposes of key cases and adjourns several  

The Supreme Court on Friday directed the Federal Board of Revenue (FBR) and Federal Investigation Agency (FIA) to submit detailed reports regarding undisclosed foreign bank accounts and the recovery of embezzled funds. 

According to media reports, A six-member constitutional bench, headed by Justice Aminud Din Khan, reviewed 16 long-pending cases, disposing of several while adjourning others.  

Justice Muhammad Ali Mazhar addressed the scope of the court’s suo motu powers during an anti-terrorism case, emphasizing that the Constitutional Bench retains authority to initiate suo motu proceedings if deemed necessary. 

This clarification came after petitioner Munir Paracha argued that the 26th Amendment restricted the Supreme Court’s ability to take suo motu notice. Justice Mazhar explained, “The amendment only modifies procedural aspects; the power to take suo motu remains intact but must be exercised through the Constitutional Bench.”  

In another hearing concerning undisclosed foreign accounts and recovery actions, Advocate Hafiz Ahsan informed the bench of recent amendments to income tax laws, noting that legal proceedings were ongoing. 

Justice Mazhar directed all relevant agencies, including the FIA and FBR, to submit comprehensive reports on the matter, stating, “If there is an intention to close the case, it must be reported to the court.” The case was adjourned for two weeks.  

The bench also addressed a suo motu notice regarding the private use of Islamabad’s Convention Centre. After being informed that expenses for a political event held by the Pakistan Tehreek-e-Insaf (PTI) had been reimbursed to the Capital Development Authority (CDA), the case was disposed of. Justice Jamal Mandokhel commented, “The Convention Centre should be managed in accordance with institutional policy.”  

Additionally, the court disposed of a case filed under the Banking Ordinance. Several other cases were adjourned, with key observations made to clarify procedural and jurisdictional matters.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

PSX announces changes to KMI-30 index’ composition

Index revised for January-June 2024 period; new additions and removals reflect updated market dynamics