ISLAMABAD (Our correspondent): The forex association of Pakistan claims that the people who are travelling abroad, carrying $6 million per day.
A delegation of the forex association of Pakistan met with the Adviser on Finance Dr. Abdul Hafeez Shaikh, here today. President of Forex Association of Pakistan Malik Bostan was leading the delegation.
The delegation suggested various measures aiming at improving foreign exchange of the country.
The representatives of the Association mentioned that smuggling of dollar to Afghanistan and Iran is a serious issue. The government must take strict action against such elements who are involved in foreign currency smuggling.
The delegation informed that the people, travelling abroad, are carrying six million dollar per day. In order to reduce the outflow of dollar, the delegation proposed that the govt should revise its limit.
The delegation expressed concern over under invoicing by some importers. It also suggested that the custom authorities should take over the goods and auction them. The delegation further said that these elements are causing losses to national exchequer. The delegation also offered its support to improve foreign exchange of the country.
The Adviser assured the delegation that the govt will consider their proposals positively. Secretary Finance, Naveed Kamran Baloch, Governor State Bank of Pakistan, Dr. Reza Baqir also attended the meeting.