PM Imran Khan gives a new deadline to concerned authorities
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*ISLAMABAD - Prime Minister Imran Khan on Friday took a string stand over the issue of money laundering in Pakistan.*
*He gave one week dead line to concerned authorities to finalize a new legislation to effectively deal with the offences related to money laundering.*
Chairing a high level meeting at his office, PM Imran also directed to further strengthen the existing laws to effectively check hawala hundi and other illegal practices that were negatively impacting the economy of the country.
According to a statement released from the ministry, he also approved a package to further incentivize remittance through legal channels.
It was 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, reads the statement.
The meeting also decided that necessary amendments would be introduced in the existing laws including Anti-Money Laundering Act 2010 to further strengthen these laws for effectively dealing with the cases of money laundering and other illegal practices.
Secretary Interior informed the meeting that task forces, at national as well as provincial levels, have been constituted with an aim to identify legislative and administrative constraints in effective implementation of AML activities and to suggest corrective measures towards its eradication.
