ISLAMABAD – Finance ministry has decided to change foreign exchangeregulation act in order to hamper the illegal foreign currency transactions.
The state bank of Pakistan would see when, where and why the transactionare being made. The preparations are underway to amend the rules.
According to the act, a passenger can send $10,000 out of country while $50lac can be sent through foreign currency account.After the amendment theprior permission would be required before any transaction.
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After the approval of act, State Bank of Pakistan would directly overseethe matters related to foreign currency exchange.
