Senator Mohsin Aziz of Pakistan Tehreek-e-Insaf (PTI) has said that children are being used in the smuggling of dollars.
A meeting of the Senate Standing Committee on Finance was held under the chairmanship of Senator Salim Mandviwala in which the State Bank Governor briefed the committee on inflation, interest rates and foreign exchange.
Speaking on the occasion, Senator Mohsin Aziz said that our government gave autonomy to the State Bank but they did not use it, the interest rate and inflation have reached historic highs in Pakistan, another 2% increase in the interest rate. Orders have been received.
The Governor of State Bank said that the economy is currently facing many external and internal challenges, due to the war in Ukraine, commodity prices have increased, which has also caused inflation in Pakistan, the current account deficit for this year is estimated to be 10 billion dollars. was
The governor of State Bank says that due to the policy measures of the government and the State Bank, the current account deficit is quite low at the moment. By the end of this financial year, the current account deficit will be up to 7 billion dollars.
On this occasion, Senator Kamil Ali Agha said that the country and the common man are suffering and the Governor State Bank says we have controlled the deficit, the entire economy has been shaken, should we reward the Governor State Bank? The value of the dollar is increased by 10-15 rupees by betting, the State Bank should stop the betting on the dollar and its black marketing.
Senator Mohsin Aziz said that increasing the tax on luxury items to 25% will reduce revenue and increase smuggling.
Governor State Bank said that last financial year import bill was 9.7 billion dollars, in the first 7 months of this financial year the import bill has been 11.3 billion dollars, 600 million dollars worth of edible oil was imported in 2 months.
Senator Mohsin Aziz says that children are being used in the smuggling of dollars, every day 4 to 5 million dollars are being smuggled through just one border.
The Governor of the State Bank said that more than 2.4 million dollars have been paid this fiscal year, the inflow of dollars was less than the outflow compared to previous years.
He said that the improvement of dollar inflow after the IMF agreement will improve the foreign reserve. By the end of next week, the reserves of the State Bank will be 4.3 billion dollars. The annual inflation rate of this year is estimated to be 26.5%. Is.
Governor State Bank says that remittances have decreased by 2 billion dollars this year, remittances have decreased from 18 billion dollars to 16 billion dollars.
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