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Part II

The nature and process of money-laundering
The case of money-laundering, especially in Pakistan, is no different from the ‘crime’ of tax-evasion; here too the government itself is an accomplice. “The ugly face of black money emerges in the corridors of power, political as well as administrative.� [Dr. Ikramul Haq, Money laundering facilitated by tax laws] In fact, “Pakistan has been the worst victim of money-launderers as during the last 30 years, the successive governments showed an extremely benign attitude toward corruption, drug trafficking and tax evasion.� [Dr. Ikramul Haq]

The government, on the one hand, introduced laws to counter money-laundering, and, on the other, floated schemes to allow the whitening of black money. All the same, various governments successively introduced novel schemes to declare untaxed and illegal money. They used this ‘weapon’ to win political rivals, to please their allies and to strengthen their rule. “. . . why......

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Approximate Word Count: 2243
Approximate Pages: 9 (250 words per double-spaced page)

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