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Move to prohibit freezing of businessmen's assets

LAHORE (November 08 2003): The federal government, in order to boost the national economy and attract investments, has decided to frame a law prohibiting freezing of bank accounts and assets of any of the businessmen in any condition in future.

The government has started preparation of a legislation to this effect and soon will move a bill in parliament, PPI learnt on Friday.

Informed sources said that some foreign investors had raised objections on the inconsistent and poor policies of the previous governments and strongly criticised former Nawaz Sharif regime's step to freeze the bank accounts at the time of atomic tests on May 28, 1998.

More than $4.5 billion had been transferred to other countries one night before the tests, sources added.

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