Money laundering: Prime Minister Imran calls for new law against it.

prime-minister-imran-calls-new-law-against-money-laundering
Prime Minister Imran calls for new law against money laundering

Prime Minister Imran Khan has called for a new legislation to be finalized within a week to effectively deal with offenses related to money laundering.

The decision has been taken during a high-level meeting at the Prime Minister’s Office. The Prime Minister further approved a package to incentivize remittance through legal channels and stop the money laundering.

The meeting was attended by:

  • Minister for Power Mr. Omar Ayub
  • Khyber-Pakhtunkhwa Chief Minister Mahmood Khan
  • Secretary Power Mr. Irfan Ali
  • Home Secretary K-P Ikram Ullah
  • Head of Energy Task Force Nadeem Babar

Introducing necessary amendments:

In the meeting, it was decided that the necessary amendments would be introduced in existing laws including Anti-Money Laundering Act 2010. It will further strengthen the laws for effectively dealing with cases of money laundering and other illegal practices.

It was also decided that the meeting that the State Bank of Pakistan would take action against elements involved in facilitating the operation of fake bank accounts in the country.

Also Check: Complete Report Of 100 Days And PM Khan’s Speech

Constituting the task-forces:

The taskforces at the national level as well as provincial level have been constituted with an aim to identify legislative and administrative constraints in effective implementation of AML activities. The task-forces will also suggest corrective measures towards its eradication.

Task-forces at the provincial level:

The provincial task-forces have been mandated to take timely action against those involved in activities falling within domains of Hawala /Hundi.

Task-forces at the national level:

While the national task-force will submit a monthly report to the PM Office on performance including coordinated actions undertaken and recoveries made.

prime-minister-imran-calls-for-new-law-against-money-laundering
Prime Minister Imran calls for a new law against money laundering

Power sector issues:

The Prime Minister Imran Khan also chaired a meeting to discuss issues related to the power sector. In the meeting, the progress towards country-wide crackdown against power theft has been discussed.

Power theft:

Prime Minister Imran Khan expressed serious concern over the quantum of power theft. The premier stated,

“It was unacceptable to those who regularly pay their dues have to face the inconvenience of load-shedding because of the theft by some elements.”

PM directed the K-P Chief Minister and Power Minister to hold a press conference to highlight the issue before the public. Secretary Power Division informed the premier that the division is actively carrying forward the campaign against power theft in all the provinces.

Installation of electricity meters:

It was decided during the meeting to expedite installation of electricity meters in the areas where electricity was being used through direct connections (Kunda-system).

Minister for Power also briefed the Prime Minister about the progress being made in other parts of the country.

He informed PM Imran that due to hectic efforts of the power division, power losses and recovery situation has started witnessing improvement.

Conclusion:

Khan has stated on several occasions that corruption money worth billions of rupees were being laundering and promised to take measures to stop it.

The government is making all-out efforts to prevent stolen money from flowing out of the country. Cash-strapped Pakistan urgently needs a capital boost in order to avert a looming balance of payments crisis.

 

Source: Express Tribune

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