ISLAMABAD – Chairing a high level meeting in Islamabad on Friday, PrimeMinister Imran Khan directed to finalize a new legislation within a week toeffectively deal with the offences related to money laundering.
He also directed to further strengthen the existing laws to effectivelycheck hawala hundi and other corrupt practices that were negativelyimpacting the economy of the country.
The Prime Minister also approved a package to further incentivizeremittance through legal channels.
It was decided to increase airtime to two rupees against each US dollarreceived through M Wallet.
It was also decided that Banks and Exchange Companies would be reimbursedone rupee per US dollar as marketing expenses and promotional activitieson remittances exceeding fifteen percent in financial year 2019 comparedto Financial Year 2018.
The Prime Minister also approved a proposal for launch of awarenesscampaign by State Bank of Pakistan for remittance customers.
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The budgetary impact of the package has been estimated to around 2.3billion rupees.
It was decided during the meeting that State Bank of Pakistan would takeaction against elements involved in facilitating opening and operation offake bank accounts in the country.
Prime Minister Imran Khan will visit Lahore on Saturday.
