Government to Stop US Dollar smuggling into Afghanistan
Law Enforcement Agencies to devise robust mechanism
Pakistan short in curbing wheat,fertilizer and US dollar smuggling to Afghanistan
Amid the state’s failure to guard its borders and international airports into dens of smuggling.Finance Minister Ishaq Dar called the heads of the LEAs to review as to why the LEAs had failed to stop the smuggling of the US currency, imported wheat and fertiliser to Afghanistan.
Pakistan in a bid to stop dollar leakages from country the Finance Minister has asked for solutions.Ishaq Dar emphasised the relevant authorities to devise a robust and proactive roadmap to curb the cross-border smuggling of various items in order to bring economic and financial stability to the country.
However,the more worrisome aspect was that there was no clear roadmap on how to address this crisis.
Finance Minister Senator Mohammad Ishaq Dar chaired a meeting on economic situation of country and emphasized the relevant authorities to devise proactive road map to curb the menace of cross-border smuggling of various items to bring economic & financial stability in country pic.twitter.com/Up8mfh2AKE
— Ministry of Finance (@FinMinistryPak) December 9, 2022
Minister for Law and Justice Azam Nazeer Tarar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Governor SBP, Secretary Finance, Secretary Interior, Chairman FBR, DG FIA, DG I&I Customs and senior officers from Finance Division and intelligence agencies also participated in the meeting.
Pakistan’s gross official foreign exchange reserves dipped to a four-year low level of $6.7 billion as of last week, sufficient to finance only five weeks of imports and not enough to meet the country’s $8.5 billion external debt repayment needs for January-March 2023.