The State Bank of Pakistan (SBP) on Thursday said it cannot take any action on the issue of profits linked to foreign currency accounts confiscated in 1999 until the court decides the matter.
The issue was discussed by the Senate Standing Committee on Finance and Revenue, where SBP Governor Jameel Ahmad told lawmakers that the case is currently pending before the court.
He said the matter involves four parties and that the central bank is waiting for the court’s decision before proceeding.
Senator Talha Mahmood said a substantial amount had remained stuck for several years and called for the matter to be resolved quickly.
Committee Chairman Saleem Mandviwalla also urged an early resolution of the issue.
The committee had taken up the matter concerning the non-payment of profits on the foreign currency accounts confiscated in 1999.
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