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Govt to take action against dollar hoarders

The new law will apply to institutions and individuals hoarding foreign currency.

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1 year ago

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Govt to take action against dollar hoarders
GNN Media: Representational Photo

Islamabad: Government has decided to launch operation against dollar hoarders to introduce important laws in the new budget through the finance bill.

According to details, those hoarding dollars or any other currency will be punished by imprisonment and heavy fines. The new law will apply to institutions and individuals hoarding foreign currency.

It is also reported that rules are being introduced to increase the limit of bringing foreign currency from abroad. Those who bring up to 100,000 dollars from abroad during a year will not be asked about the source of income.

Currently, five million rupees or its equivalent currency is allowed to be brought into Pakistan without declaring the income.

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