Children Are Transporting Dollars Outside Pakistan: Senator
On Wednesday, Senator Mohsin Aziz disclosed that, according to reports, youngsters are being used to transfer money out of the nation during a meeting of the Senate Standing Committee on Finance, which is chaired by Senator Saleem Mandviwalla.
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The meeting heard an update from the State Bank of Pakistan (SBP) on Pakistan’s hyperinflation, interest rates, and foreign exchange prices.
On Wednesday, Senator Mohsin Aziz disclosed that, according to reports, youngsters are being used to transfer money out of the nation during a meeting of the Senate Standing Committee on Finance, which is chaired by Senator Saleem Mandviwalla.
The meeting heard an update from the State Bank of Pakistan (SBP) on Pakistan’s hyperinflation, interest rates, and foreign exchange prices.
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Senator Aziz expressed worry that raising the luxury tax to 25% will result in lower income and an increase in illegal activity. Additionally, he said that youngsters are being utilised to smuggle money, with up to $5 million leaving the country every day.
The governor disclosed that for the current fiscal year, debt repayments totaled around $2.4 million. Pakistan’s foreign exchange reserves are expected to surpass $4.3 billion by the following weekend. Yet, this year’s annual inflation rate is predicted to be 26.5 percent.
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