Updated at: 0309 PST, Friday, December 26, 2008
ISLAMABAD: Pakistan Economy Watch (PEW) Thursday said the overwhelming majority of Pakistani expatriates were still using hundi to transfer funds home bypassing the legal banking systems.
The trend is depriving the country of legitimate taxes as well as foreign exchange and the government should try to tap potential of three million overseas Pakistanis by introducing sweeping reforms in the existing banking system.
“So far various legal steps and administrative actions have not stopped or significantly dented the parallel remittance system. Read more
No comments:
Post a Comment