The federal government has decided to introduce important laws with the budget of the current fiscal year 2023-24.
According to sources, the government has decided to legislate to punish hoarding of dollars and other currencies.
There will be legislation to make hoarding of foreign currency punishable by imprisonment and fine.
The new law will apply to foreign currency hoarding institutions and individuals.
Laws are being introduced to increase the limit of bringing foreign currency into the country.
Under these rules, those coming from abroad will be able to bring up to 1 lakh dollars during 1 year.
Sources have further informed that those who bring up to 1 lakh dollars into the country will not be asked about their source of income.
Currently Rs 50 lakh worth of currency can be brought to Pakistan without declaring income.
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