Summary The committee directed State bank to inform in the next meeting how much amount has been repatriated.
ISLAMABAD (Dunya News) - Pakistan Tehrik-e-Insaf (PTI) leader Asad Umar chaired a meeting of standing committee of finance of the national assembly on Tuesday.
As per details, the committee discussed foreign exchange regulations and amended ordinance 2019. It also discussed the permissions required to transfer 10000 dollars within the country.
FIA told the committee that over invoicing and under invoicing has become a tool of money laundering. FIA said several people launder 40000 dollars from banking channel and 60000 from hundi. It said Dollars have been smuggled from Pakistan. Currently if somebody wants to transfer money it can move out in 15 minutes, FIA told the committee.
The meeting was told that one money changer in Karachi launder money amounting to Rs 16 billion. The committee said people involved in hawala and hundi should faces punishment
The committee directed State bank to inform in next meeting how much amount has been repatriated and approved foreign exchange rules 2019.
