Pakistan, June 26 -- Switzerland is apparently no longer a favourite offshore tax haven for Pakistanis to stash their wealth as the money kept by the country's nationals in Swiss banks has fallen by 50% to the lowest level of $377 million in 2019, a new report disclosed on Thursday.

Switzerland's central bank, the Swiss Nati0nal Bank, has published its annual rep0rt, "Banks in Switzerland 2019", and the c0rresp0nding data f0r its annual banking statistics.

Despite significant reducti0n in the wealth stashed in the 0nce safest 0ffsh0re tax haven, Pakistan has been unable t0 benefit fr0m the devel0pment because 0f the tw0 tax amnesty schemes 0ffered by f0rmer premier Shahid Khaqan Abbasi and Prime Minister Imran Khan.

These amnesties hav...