Pakistan mulls stern measures to curb gold, currency smuggling

ISLAMABAD – The federal government has mulled stringent measures to restrict the smuggling of foreign currencies, mostly US Dollars, and gold to neighbouring Afghanistan, according to reports in local media.

The development comes after a meeting of the Borders Task Force which was attended by FIA, State Bank of Pakistan, CTD, and intelligence officials who proposed linking the Federal Investigation Agency’s Currency Declaration System (CDS) with the integrated border management system, the Express Tribune reported.

The Integrated Border Management System ensures the identity of the passengers and integration with other stakeholders, whose documents are presented at the border.

The latest measure will soon be implemented to end the smuggling of foreign currencies, and gold. Officials have also decided to make monitoring and enforcement stricter at the border customs stations.

In the meeting, the border force and other officials proposed empowering Customs personnel in every premise at Bacha Khan Airport. Meanwhile, Airports Security Force is yet to make a final decision in this regard.

SBP names banks responsible for increase in US dollar rate

Pakistan’s central bank will set up a special booth at the key border crossing between Torkham and Afghanistan to issue currency declaration forms to the exporters.