As per the latest data released today by Switzerland's central bank SNB (Swiss National Bank), the total funds linked to Pakistan in Swiss banks stood at 1,416 million at the end of 2016, down nearly 6 per cent from CHF 1,513 million a year ago.
This included funds amounting to CHF 1386.6 million (down from 1,477 million at 2015-end) held directly by Pakistani nationals and entities and CHF 29 million (down from 36 million) through fiduciaries or wealth managers.
The decline follows two consecutive years of rise in Pakistan-linked funds in Swiss banks, while the same for India has fallen for the third consecutive year now and stood at CHF 676 million (Rs 4,500 crore) at the end of 2016 - a decline of 45 per cent.
This is the second time that the funds linked to Pakistan in Swiss banks have exceeded that of Indians.
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A number of other major countries also saw their funds falling in Swiss banks amid a global clampdown against the erstwhile banking secrecy walls in the Alpine nation.
Also, these figures do not indicate towards the quantum of alleged black money, which has been a matter of a major political debate in various countries, including India and Pakistan.
As per the SNB data, the total funds linked to Pakistan in Swiss banks stood at a record high level of CHF 3.43 billion in the year 2001, but has come down considerably since then.
By 2013, it fell to as low as CHF 1.23 billion, the lowest since 1996 since when this data is available. However, it has risen by 6 per cent and 16 per cent during the last two years 2014 and 2015, respectively.