Pak Foreign Exchange Companies suggest dollar amnesty scheme

Karachi ( UAE Updates – Arshad Farooq Butt )

The Foreign Exchange Companies Association in Pakistan has suggested the government to introduce a dollar amnesty scheme.

Daily Jang and Geo News claim that a meeting of Foreign Exchange Companies Association held in Karachi. President of Foreign Exchange Company Sheikh Allauddin, Malik Bostan and other members expressed concern over the situation of the dollars in Pakistani Market.

President of Foreign Exchange Company Sheikh Allauddin suggested that credit cards payments should be made through exchange companies instead of Interbank market.

He also suggested not to give cheap dollars from Interbank to people who go on entertainment. Amnesty scheme can bring 5 to 10M dollars in Pakistani market immediately.

Sheikh Allauddin said that Federal Minister of Finance Ishaq Dar should sit with us and make a comprehensive policy.

According to the Daily Pakistan, Malik Bostan has revealed that the smuggling of dollars to Afghanistan is still going on. The suggestions of the Foreign Exchange Companies Association must be implemented immediately.

Another member Zafar Pracha has said that when the black market pays Rs 310 for a dollar who will come to Interbank? He also revealed that Containers worth $4 billion are standing at the ports. They should be cleared immediately. Today 1 usd to pkr is about Rs 310.