Abb Takk News

FBR swings into action against currency smuggling

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday constituted a special cell for checking currency smuggling.

The Cell has been constituted on the special directives of Finance Minister Ishaq Dar. Following the directives of Dar, the FB became active against the currency smugglers.

The Board has decided to collect data of those who purchased 2500 or more dollars during the last two months. The Board will also scrutinize tax and other records of those who purchased dollar in large amount.

Customs Intelligence might be allowed to take action against those involved in dollar smuggling.

Earlier, on Friday Dar had said that rupee dollar parity would not be allowed to be tampered through illegal and unnatural practices, and discipline will be enforced.

Talking to a delegation of Forex Association of Pakistan led by its Chairman Shaikh Allauddin in Islamabad, he said crackdown had been launched against illegal money changers and currency and bullion smuggling.

The Finance Minister said that FIA, IB, Custom Intelligence and State bank of Pakistan have been tasked to keep strict vigilance to curb this menace of currency and bullion smuggling. He reiterated that the Government is determined to establish writ of the state.