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HUDABIYA ENGINEERING (PVT.) LIMITED versus PAKISTAN THROUGH SECRETARY, MINISTRY OF INTERIOR, GOVERNMENT OF PAKISTAN AND 6 OTHERS

Sections 5 and 9 of the Economic Reforms Act 1992 protect the accounts of foreign exchange, the protection and immunity of such accounts under the Economic Reform Act, Sections of Section 5 of 1992, Protection of Economic Reforms Act 1992, not only Providing full immunity provides foreign exchange account holders but also complete confidentiality with respect to transactions in those accounts, whereas Section 5 (1) of the Act will provide immunity to foreign currency account holders and CL (2) will be exempt from balances in foreign currency accounts. Income Tax and Income Tax Income; its CL () mandates that banks maintain full confidentiality with regard to foreign currency accounts. And its CLL (4) prohibits the State Bank and all other banks from making any restrictions on deposits and withdrawals in a foreign currency account. Also, if any restriction already exists, Section 5 (1), the protection provisions shall be withdrawn. The Economic Reforms Act, 1992, thus, in its view, exempts holders from any investigation of tax officials, through the financing of foreign currency accounts, such an exception being imposed by Section 9. Was not subject to any conditions Under the provision of Section 5 (3), the Economic Reform Act, 1992, under the Act relating to the privacy of foreign currency accounts, the Act had general provisions in section 9. The confidentiality of banking transactions and thus does not apply to foreign currency accounts. Transactions were also applicable to transactions other than foreign currency accounts. advocates from Daud Khel lawyer