The shocking Rs97 billion that is dormant in the bank accounts of Pakistani people was disclosed in a recent meeting of the Senate Standing Committee on Finance.
This enormous sum is allegedly dispersed over 10.4 million temporarily frozen accounts at different banks around the nation.
It was revealed during the meeting, which was presided over by Senator Saleem Mandviwala, that these accounts have been dormant for ten years. The committee was told of the funds’ existence by representatives of the State Bank of Pakistan, who emphasized that many account holders appeared to have forgotten about the money in their accounts.
It was suggested at the briefing to increase the current 10-year window for deeming such accounts permanently closed to 15 years.
