Ishaq Dar directs expediting operations to curb cross-border smuggling

ISLAMABAD: Finance Minister Senator Ishaq Dar has directed the relevant authorities to expedite operations to curb cross-border smuggling.

Ishaq Dar issued the directives while chairing an inter-ministerial follow-up meeting on anti-smuggling measures in Islamabad on Friday.

The finance minister highlighted the necessity to stop the cross-border smuggling of foreign currency and other valuable items affecting the economic growth in the country and expressed satisfaction with the progress of concerned agencies, Radio Pakistan reported.

He further stressed upon the need for coordination among all the concerned agencies for this purpose. He directed them to take comprehensive and combined action against those involved in smuggling activities and currency speculation.

The meeting reviewed the progress on anti-smuggling measures and the roadmap to strengthen the anti-smuggling regime in the country. It was apprised that strict and vigilant operations have been initiated against the illegal cross-border movement of foreign currency, urea, wheat and other items by the Customs, law enforcement and intelligence agencies.

The meeting was also informed that large quantities of foreign currency and other valuable items have been confiscated at various points between the 9th to 15th of this month.

In another meeting today, Dar asked the Securities and Exchange Commission of Pakistan (SECP) to work with a dedicated focus to ensure consistent, transparent and focused regulatory oversight across sectors for achieving high economic growth.

He was talking to the SECP team which called on him in Islamabad today.

Dar appreciated SECP’s work as a contributor to the financial and economic development in Pakistan by taking a number of regulatory measures to restore and maintaining the confidence of domestic as well as foreign investors, according to Radio Pakistan.

The SECP chairman and commissioners apprised the finance minister of various regulatory initiatives to mitigate systemic problems and build investors’ confidence. They also assured their full support and cooperation to the Finance Minister.