Government Launches Nationwide Crackdown on Money Laundering and Hawala-Hundi
Interior Minister Mohsin Naqvi and Finance Minister Muhammad Aurangzeb announce a “zero tolerance” crackdown on illegal money transfers and hawala-hundi networks.
SECP Issues Show-Cause Notices to 41 SOEs Over Financial Reporting Failures
The SECP cracks down on 41 state-owned enterprises, including Pakistan Steel Mills and PTV, for failing to file audited accounts and annual returns.
Pakistan Law Minister Upholds FBR’s Legal Right to Access Bank Data for Tax Compliance
Law Minister Azam Nazeer Tarar defends FBR’s legal mandate to access and share taxpayer bank data, emphasizing compliance with global anti-money laundering standards and transparency.
NAB and UK’s NCA Move to Strengthen Cooperation Against Financial Crimes
NAB and the UK’s NCA are set to formalize a Memorandum of Understanding to enhance collaboration in fighting financial crimes, money laundering, and corruption in Pakistan.
Pakistan’s $30 Billion Import Reporting Gap Raises Transparency Concerns in Trade Data
A new report reveals a $30 billion gap between import figures recorded by PSW and SBP over five years, raising serious questions about data accuracy. The IMF has called for transparency, and a government committee is investigating the discrepancies to restore market confidence.
SBP Clarifies: No Major Revisions Expected in Trade and Current Account Data After PBS Updates
The State Bank of Pakistan (SBP) has issued a clarification stating that its trade and current account figures will not see significant revisions following Pakistan Bureau of Statistics (PBS) trade data adjustments, as SBP’s calculations rely primarily on actual payment records from banks.
SBP to Publish Biannual Monetary Policy Report to Boost Transparency and Anchor Inflation Expectations
The State Bank of Pakistan will begin publishing a Monetary Policy Report twice a year to enhance transparency and align with its strategic vision for inflation targeting and effective policy communication.