Prime Minister Imran Khan has directed to further strengthen the existing laws to effectively check hawala, hundi and other corrupt practices that are negatively impacting the economy of the country.
Chairing a high level meeting in Islamabad, he directed that a new legislation should be finalized within a week to effectively deal with the offences related to money laundering.
The Prime Minister also approved a package to further incentivize remittance through legal channels.
He also approved a proposal for launch of awareness campaign by State Bank of Pakistan for remittance customers.
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It was further decided during the meeting that State Bank of Pakistan, being the regulatory authority in the banking sector, would take action against elements who were involved in facilitating opening and operation of fake bank accounts in the country.
The Prime Minister also tasked Secretary Finance to submit recommendations for regulating trade under Pak-Afghan Transit Trade Agreement with an aim to effectively check misuse of the Agreement.
