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‘Over $15b being remitted through illegal channel’

Govt and state bank is responsible for all this because they loot out door Pakistanis with liwest rate and poorest service to collect the remitance from bank and bank remitance officers behave like they are loan seekers

Remember pakistan gain dollars without any fuss from these un sung heroes on which pak govt do trade with other nations but these heroes never given their due protocol help from govt
 
This illegal money doesn't benefit Pakistan and is big reason for terrorism funding and money laundering.

I am not sure what are you talking about. legal or illegal - remmitances benefit Pakistan.

Agreed. But I think source countries of remittances need approaching as well. I know in UK there is these 'travel agents' on every street corner and they all are just cover for hawala business. Problem needs attacking from both sides. Foreign countries need to be reminded that often this is source of terrorist funding. Remittances could double to $4o billion a year and sort out the current account deficit if this problem was plugged.

you are picking on hawalas because one or twice a year someone decides to blow up a few guys en route to paradise.
the real issue is the ability and trust of the pakistani banking institutions. if the banks are corrupt not even god can save you
 
True. It provides a perfect way for the corrupt in Pakistan to 'transfer' their money abroad. Sadly remittances so provided fail to contribute to the economy instead they end up just adjusting for corrupt money.

You know they say Pakistan is dirt poor. Poverty, blah, blah. Trade figures merely confirm that. You guys export more garments then the total Pakistan exports. But, go to Pakistan. Six lane motorways, cars jams, huge housing estates, shopping malls etc. This enigma is explained by the massive remitances. I have read figures that go as high as $30 billion for Hawala transfers. If true and i have no reason to doubt them the real figure is as high as $50 billion inflows.
I call it the "Hidden Imam" syndrome!!! Pak folks have developed a propensity to hide everything - be it nukes, missiles, policy on Afghanistan/India, finances, business transactions, income, purchases or something else....
 
That's mean overseas Pakistanis sends 35 billion dollar annually. It's a huge amount if send properly could benefits Pakistan. How many Pakistanis live abroad?
As per 2017 stats
PAK diaspora = 7.4 millions
BD diaspora = 7.5 millions
 
I know.. Our 80% import is from china.. It means 80% of our dollars are flowing to china.. But u guys will be surprised to know that 60% of our dollars are going to china through hundi hawala, 80% of imported items arriving through karachi ports..it can be easily trace out who sent the money illeagly for example if a company transmited 200k dollars through leagal channels to china what is the value of its impprted items...? But there you have another type of hurdle and that is fake invoices from the Chinese companies .. Suppose i imported items value of 200k dollars i will make request to my Chinese partner company to please send me invoice value of 50k US$... Now it requires alot of time and human resources at our ports to check of the value of import items is the same as per value of the transferd amount which transferd by legal channel.. So no way we can stop this hundi business it will keep harming us
China has total control on its import. That s what PTI govt raised the issue. Later Chinese govt agreed to accommodate Pakistani exporters. Otherwise Chinese are dumping all there products in Pakistani market and killing local industry.
 
Less than Bangladeshi, I even saw one selling muri on Mars. Lol


That's mean overseas Pakistanis sends 35 billion dollar annually. It's a huge amount if send properly could benefits Pakistan. How many Pakistanis live abroad?
 
I am not sure what are you talking about. legal or illegal - remmitances benefit Pakistan.



you are picking on hawalas because one or twice a year someone decides to blow up a few guys en route to paradise.
the real issue is the ability and trust of the pakistani banking institutions. if the banks are corrupt not even god can save you

No it doesn’t benefit Pakistan. How? Yes families receive rupees from local hundi crimnals but Pakistan doesn’t get $$ in return. Pakistan need $$ to pay off foreign debt, increase reserves, imports. This is why debt to GDP ratio when it comes to foreign debt doesn’t matter. Because Pakistan isn’t going to pay back loans in rupees.

You take care of $15b hundi and smugling, Pak rupee goes back to Rs100.
 
China has total control on its import. That s what PTI govt raised the issue. Later Chinese govt agreed to accommodate Pakistani exporters. Otherwise Chinese are dumping all there products in Pakistani market and killing local industry.
Issue is about fake invoices brother, illegal money changers are smuggling currencies through Afghanistan and through launches by sea route, and from there they facilitate Pakistani importers who are having huge reserves of black money without paying taxes they still able to import goods from china to Pakistan
 
Issue is about fake invoices brother, illegal money changers are smuggling currencies through Afghanistan and through launches by sea route, and from there they facilitate Pakistani importers who are having huge reserves of black money without paying taxes they still able to import goods from china to Pakistan
Govt need to find the solution. Our elite is corrupt. Rest these gulfies are not our friends. In there country no illegal can enter but all illegal money can enter. PN need to secured the water ways. Hopefully, IK will control these corrupts.
 
No it doesn’t benefit Pakistan. How? Yes families receive rupees from local hundi crimnals but Pakistan doesn’t get $$ in return. Pakistan need $$ to pay off foreign debt, increase reserves, imports. This is why debt to GDP ratio when it comes to foreign debt doesn’t matter. Because Pakistan isn’t going to pay back loans in rupees.

You take care of $15b hundi and smugling, Pak rupee goes back to Rs100.
If i had a millions of black money, only i have to do is to go to any Pakistani money changer, they are having contacts with the hundi hawal networks in every country of the word, they will give me the rate of inword remittance which will be far higher then the current open market rate.. I will pay them in Pakistani ruppes And they will transfer hundreds and thousands of dollars into my accounts by legal channel and there u go i have white money now.. And we dont have restrictions here over inword remittance what so ever

Govt need to find the solution. Our elite is corrupt. Rest these gulfies are not our friends. In there country no illegal can enter but all illegal money can enter. PN need to secured the water ways. Hopefully, IK will control these corrupts.
Lol... Brother please think... How a vehicle with enter in karachi with smuggled irani diesel passing all military & police check posts? How a vehicle with millions dollars on board able to cross torkham border? How a launch or ferry able to reach gulf countries bypassing all maritime securities? Yahan awa k awa he bigra ha kis kisnko theek karo gay
 
If i had a millions of black money, only i have to do is to go to any Pakistani money changer, they are having contacts with the hundi hawal networks in every country of the word, they will give me the rate of inword remittance which will be far higher then the current open market rate.. I will pay them in Pakistani ruppes And they will transfer hundreds and thousands of dollars into my accounts by legal channel and there u go i have white money now.. And we dont have restrictions here over inword remittance what so ever


Lol... Brother please think... How a vehicle with enter in karachi with smuggled irani diesel passing all military & police check posts? How a vehicle with millions dollars on board able to cross torkham border? How a launch or ferry able to reach gulf countries bypassing all maritime securities? Yahan awa k awa he bigra ha kis kisnko theek karo gay
How many time Ayyan Ali went to UAE carrying five or six hundred thousands dollar in cash on plane. Not first time. she been used as carrier many time before.
 
Very simple reason: The USD holds its value far better than the PKR.

But why USD exchange value is more than PKR? Can you explain WHAT is the real power of Dollar, the Dollar Illusion? Please, see Yuan/Dollar exchange rate from 1998-2013. Well, Chinese didn't achieved this overnight.
View media item 17707
I am apolitical, but I appreciate the steps of IK government of boosting up exports. Manufactured exports are currently 54% of the World Trade shares, Oil & minerals at 19%, therefore, we must boost our manufactured exports with NO compromise on quality & performance.
 
But why USD exchange value is more than PKR? Can you explain WHAT is the real power of Dollar, the Dollar Illusion? Please, see Yuan/Dollar exchange rate from 1998-2013. Well, Chinese didn't achieved this overnight.
View media item 17707
I am apolitical, but I appreciate the steps of IK government of boosting up exports. Manufactured exports are currently 54% of the World Trade shares, Oil & minerals at 19%, therefore, we must boost our manufactured exports with NO compromise on quality & performance.

The USD is dead anyway, so we can safely ignore it in this thread. Besides, Pakistan is not China. :D

Pakistan has a tough road ahead of it to develop quality exportable goods that are competitive in the global marketplace. Its adverse balance of payments will likely continue to be supported by remittances while the PKR slides ever lower in value at about 10% per year, averaged.
 
I know.. Our 80% import is from china.. It means 80% of our dollars are flowing to china.. But u guys will be surprised to know that 60% of our dollars are going to china through hundi hawala, 80% of imported items arriving through karachi ports..it can be easily trace out who sent the money illeagly for example if a company transmited 200k dollars through leagal channels to china what is the value of its impprted items...? But there you have another type of hurdle and that is fake invoices from the Chinese companies .. Suppose i imported items value of 200k dollars i will make request to my Chinese partner company to please send me invoice value of 50k US$... Now it requires alot of time and human resources at our ports to check of the value of import items is the same as per value of the transferd amount which transferd by legal channel.. So no way we can stop this hundi business it will keep harming us

About a decade ago, it was proposed that Pakistan Customs be linked with China Custom to curb or at least minimize under-invoicing. Intermittently, there have been reports about progress towards the establishment of an Electronic Data Interchange System (EDIS) but nothing appears to have materialized. The deadline of April 30/2018 was set for Pakistan and China to exchange trade data digitally. I don't know if this has taken place or not...if the government is serious about closing this loophole then this should have been implemented by now.
 
The difference between being in opposition and running the country is evident from the fact the Imran Khan burnt his electricity bill and suggested overseas Pakistanis use Hawala for remitting money. Many of my friends are angry with me because I am not a fan of Imran Khan. How can I like a leader who in his pursuit of power tempts his supporters for illegal actions? But once in power; PTI hikes gas & electricity rates, and ask for even more loans, exactly what PML-N gov’t did in 2014. Bringing back $200-billion in foreign banks? Perish the thought.


Civil disobedience: Imran publicly burns electricity bills

Kashif Imran On Sep 19, 2014


Addressing his workers and followers on the ‘Go Nawaz Go’ Day, Imran Khan said that his 36 days of politics up till now is more pleasing to him than his 18 years of political struggle.

While drawing the attention of Prime Minister Nawaz Sharif, he said, “As long as you do not resign, you will have to face hardships”. He added that the government falsely said that it has admitted all the demands laid by PTI.

He slammed the government for acquiring highest loans in the history of Pakistan and inquired the rulers where these huge amounts were spent.

The PTI chairman said that today the Sharif brothers were acquitted from the illegal assets reference by a NAB court, because PM Nawaz Sharif and Opposition Leader, Khursheed Shah together had appointed their own NAB chairman. He added that soon Khursheed Shah will also be acquitted from the two references registered against him within NAB.

He vowed that PTI after coming into power will reopen these cases and the people involved in corruption will be brought before justice.

The skipper also vowed to bring the 200 billion dollars lying in Swiss banks, back to Pakistan.

The PTI chief said today the PMLN organized a rally in Peshawar, but the PTI-led KP Government neither placed any container on roads, nor it arrested the PMLN workers, however there too the people chanted ‘Go Nawaz Go’.

He urged the people to stand up if they witness anyone being oppressed, for this is part of our teachings.

Imran Khan said that poor laborers are being manhandled publicly, but there is no one to inquire about this injustice. He added that women, farmers and poor people are being ill-treated, adding, “We have gathered here [Constitution Avenue] to revamp the system of the state”.

The PTI chairman burnt his electricity bills as a civil disobedience move against the current Nawaz-government.

He said that the power tariff was increased by 80 percent in a single year and inquired the prime minister why didn’t he prevent pilferage, rather than increasing the cost of electricity.

Imran Khan inquired why should a common citizen pay additional amount to overcome the losses due power thefts.

He elaborated that nearly 28 lac ACs were purchased during the past 4 years, whereas only one lac or so users are paying the electricity bills, rest of the people have obtained illegal connections.

Moreover, the PTI chairman said, “I am burning these bills because I am not going to pay additional amount due to the ineligibility and corruption of these rulers”.

https://arynews.tv/en/civil-disobedience-imran-publicly-burns-electricity-bills/


Imran suggests use of Hundi system for transfer of money

ISLAMABAD: After civil disobedience announcement, Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan has suggested overseas Pakistanis to use Hundi system for transfer of money to Pakistan, Geo News reported.


Suggesting illegal action to the Pakistanis living abroad, Imran asked them to stop sending money to their families through banks (remittances) and use Hundi system for transfer of money to Pakistan.

According to a report, long march and sit-in politics has incurred a loss of Rs490 billion on Pakistan only in August.


https://www.geo.tv/latest/95348-imran-suggests-use-of-hundi-system-for-transfer-of-money
 

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