PM reiterates commitment to clamping down on money laundering

Published February 25, 2019
Prime Minister Imran Khan brands money laundering an evil practice that has caused an irreparable loss to country's economy. — Radio Pakistan
Prime Minister Imran Khan brands money laundering an evil practice that has caused an irreparable loss to country's economy. — Radio Pakistan

Prime Minister Imran Khan on Monday ordered that financial monitoring units be activated across the country as he reiterated his commitment to clamping down on elements involved in money laundering, Radio Pakistan reported.

The prime minister, as per the radio broadcast network, issued the directives during a meeting in Islamabad to review the progress of measures taken to cut the illegal flow of money out of Pakistan.

The premier, who had last week said that he wants money laundering to become "an expensive risk", today said that "elements involved in money laundering do not deserve any concession and their reality should be exposed before the nation."

Prime Minister Khan branded money laundering an evil practice that has caused an irreparable loss to the country's economy.

The prime minister also received a briefing during the meeting. He was informed that fines to the tune of Rs247 million have been imposed on various banks for over fake accounts, whereas 109 officers are being investigated.

Furthermore, the prime minister was told that memoranda of understandings (MoUs) have been penned with UK, Australia, UAE and Qatar to enhance the process of financial intelligence sharing.

Last week, the prime minister had instructed his cabinet to "double up" their efforts to curb money laundering, and made it clear that those indulging in the practice are "the nation's enemies and do not deserve any leniency".

He had condemned the practice, saying: "by embezzling public funds and moving them abroad to amass personal fortunes, not only did the country encounter a severe financial crisis [due to the actions of these individuals], but the nation was thrust in a quagmire of loans."

Opinion

Editorial

27 May, 2022

After the march

FORMER prime minister Imran Khan either ‘ran away’ from Islamabad or made a temporary, strategic retreat. It...
A tough decision
Updated 27 May, 2022

A tough decision

Decision to raise fuel prices will remove a major hitch of concluding a staff-level agreement with IMF.
27 May, 2022

Xinjiang files

QUESTIONS about the status of the Muslim Uighur people in China’s Xinjiang autonomous region often arise, with...
Dark days
Updated 26 May, 2022

Dark days

The PTI, on its part, does not seem to have been prepared to face such a large deployment of state machinery.
26 May, 2022

No room for dissent

WHILE political turmoil roils the land, a number of incidents over the past few days have demonstrated that though...
26 May, 2022

Harassing passengers

REPORTS of the confiscation of personal items from passengers’ private luggage by customs officials at Karachi’s...