ISLAMABAD – Foreign Exchange Dealers Tuesday expressed concern over underinvoicing by some importers and suggested that the custom authoritiesshould take over the goods, by auctioning them, of the importers who areinvolved in under invoicing causing losses to national exchequer.
A delegation of Foreign Exchange Dealers, led by the President of ForexAssociation of Pakistan, Malik Bostan, called on Adviser to Prime Ministeron Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh, here, afinance ministry statement said.The delegation also offered its support to improve foreign exchange of thecountry.
The delegation suggested various measures aiming at improving foreignexchange of the country.
The representatives of the association mentioned that smuggling of dollarto Afghanistan and Iran is a serious issue and the government agenciesshould take strict action against such elements who are involved in foreigncurrency smuggling.
The delegation informed that people, who are traveling abroad, are carryingsix million dollar per day.
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In order to reduce the outflow of dollar, the delegation proposed that theforeign currency limit for people, who are traveling abroad, should berevised.
The adviser assured the delegation that their proposals would be consideredpositively.The meeting was attended by Secretary Finance, Naveed Kamran Baloch,Governor State Bank of Pakistan, Dr Reza Baqir, senior officials ofMinistry of Finance and representatives of foreign exchange dealers.
