Authorities to take strict action against business figures and institutions illegally transferring funds abroad.
The federal government on Tuesday approved a nationwide crackdown targeting money laundering and hawala-hundi networks operating across Pakistan.
The decision came during a high-level special meeting chaired by Interior Minister Mohsin Naqvi and Finance Minister Muhammad Aurangzeb.
The meeting resolved that strict action would be taken against major business figures and institutions involved in illegally transferring funds abroad.
Officials emphasized that no leniency would be shown to individuals or entities engaged in money laundering or hawala-hundi operations.
It was also decided that overseas remittances must be sent exclusively through banking channels and other legally approved mechanisms.
The process of sending money abroad through money changers will be streamlined to close loopholes and ensure full transparency.
The ministers stressed that the entire system for foreign remittances will be made “transparent and foolproof.”
All illegal channels for transferring funds overseas will be discouraged at every level, they said.
A strong commitment was expressed to take strict action against “major money launderers,” with the ministers reiterating that hawala-hundi operations will not be tolerated under any circumstances.
The meeting also approved the creation of a joint working group comprising the State Bank of Pakistan (SBP) and the Federal Investigation Agency (FIA), which will regularly monitor progress on issues related to illegal financial flows.
During the session, the SBP governor provided a briefing on the current system of fund transfers through formal banking channels.
The meeting was attended by the FIA Director General, the SBP governor, and the federal finance secretary.
FIA foils human smuggling attempt
Separately, the Federal Investigation Agency (FIA) intercepted an attempt to smuggle women abroad in Karachi, taking 33 women from various districts of Punjab into custody, a spokesperson said.
Human traffickers and their accomplices were also arrested during an FIA raid based on a tip-off at two hotels near the Passport Office in the Saddar area of Karachi.
Officials recovered 29 passports and other related materials from the suspects.
The FIA has filed three separate cases against the accused in connection with the operation.
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