Talks to retrieve $200b from Swiss banks to be held in August: Dar

Talks will be held in several phases; will take 3-4 years to bring money back, says finance minister

ISLAMABAD: Finance Minister Ishaq Dar said talks would be held with the Swiss government in August to bring back $200 billion from Switzerland to Pakistan, Radio Pakistan reported.

Talks would be held in several phases, and it could take three to four years to bring the money back to the country, Dar said in a statement.

He said that when the Pakistan Muslim League-Nawaz (PML-N) took charge of the country’s affairs, the economic situation was fragile, adding that foreign monetary institutions had predicted that Pakistan would be bankrupt in 2014.

Dar said that the current government was performing well, proving that Pakistan has a strong economy.