ISLAMABAD: The State Bank of Pakistan (SBP) governor Tariq Bajwa on Mondayrevealed $300 million tax has been fetched under the tax amnesty schemelaunched by the previous government in April this year for whitening theirundisclosed assets held overseas.
Mr Bajwa was speaking to media persons after the conclusion of an awardceremony of Citi-Pakistan Poverty Alleviation Fund where he was the chiefguest shared the tax regulator had the data of local tax received underdomestic tax collection, reported *Business Recorder.*
He shared current account deficit was creating issues in the stability ofexchange rate and said regulations for dollar-denominated bonds were readyand will be published soon.
Another official who declined to be named said dubious transactionsuncovered by SBP’s Financial Monitoring Unit (FMU) contributed to therecent discovery of the money laundering fraud.
The SBP governor while speaking as the chief guest at the ceremony saidinflation was increasing and would make life troublesome for endangeredpeople, hence the importance of microfinance was becoming more significantto ensure these people don’t plunge below the poverty line.
He added the Benazir Income Support Program had helped in reducing poverty,however, a rise in inflation posed a risk to the vulnerable.
Furthermore, the central bank has been undertaking measures to providecredit to the female segment of underdeveloped areas.