If Pakistan want to pay back foreign loans without impact on reserves

[Kam]

In Pakistan, almost everywhere unauthorized foreign currency is available.
In each city, town Foreign currency buyers and sellers are available who are working without any authorization.
These illegal buyers have built huge reserves of illegal foreign currency in their houses.

If we can only stop them and make a law to bring this money out and in the legal channels, we can easily pay back our loans without any impact on the foreign reserves.

So law should be as follows,

1. No one should be allowed to keep a single note of any foreign currency in range of any value.

2. People should be given a time of three months to change currency to local currency.

3. After this period, any foreign currency with any person should be considered as illegal money if not available in any proper and legal banking channel.

4. Money exchanger data should be connected with immigration authority staff to check the currency movement. No person should be allowed to take a single currency note without record matching. A three layer security check system should be introduced on all immigration points such as Police, FBR, Military etc. A layered system is a better choice to stop any illegal activity.

5. People coming back from the other countries should be provided with some authorization to change the money in the local market or to be on safer side, banks should set up offices to create accounts or change money on the arrival in the banking accounts.

Only option left with above actions implementation is smuggle foreign currency through shipping or other illegal entry and exit points. Law enforcement agencies should find a way to stop this.
Illegal money can easily be traded in the open seas.

 

[aliahmad297622]

Should invest in crypto

 

[aliahmad297622]

Not waqar zaka too slow
Nadeem007 from Virginia best in telegram

 

[Islamabadi1]

Yeah khotey ki aulaad....create a police state....the freest most dynamic economies of the world UAE...Singapore ....Hongkong allow free movement of foreign currency at higher limits (up to 30,000 dollars) than rest of the world. Money exchange business is legal in every country except NORTH KOREA and Syria....which you want us to turn into.....khotey ki aulaad

 

[Kam]

Yeah khotey ki aulaad....create a police state....the freest most dynamic economies of the world UAE...Singapore ....Hongkong allow free movement of foreign currency at higher limits (up to 30,000 dollars) than rest of the world. Money exchange business is legal in every country except NORTH KOREA and Syria....which you want us to turn into.....khotey ki aulaad

I think it hurt you the most. Are you hoarding foreign currency?
Because if people lik you, poor are suffering.

 

[MrLad01]

In Pakistan, almost everywhere unauthorized foreign currency is available.
In each city, town Foreign currency buyers and sellers are available who are working without any authorization.
These illegal buyers have built huge reserves of illegal foreign currency in their houses.

If we can only stop them and make a law to bring this money out and in the legal channels, we can easily pay back our loans without any impact on the foreign reserves.

So law should be as follows,

1. No one should be allowed to keep a single note of any foreign currency in range of any value.

2. People should be given a time of three months to change currency to local currency.

3. After this period, any foreign currency with any person should be considered as illegal money if not available in any proper and legal banking channel.

4. Money exchanger data should be connected with immigration authority staff to check the currency movement. No person should be allowed to take a single currency note without record matching. A three layer security check system should be introduced on all immigration points such as Police, FBR, Military etc. A layered system is a better choice to stop any illegal activity.

5. People coming back from the other countries should be provided with some authorization to change the money in the local market or to be on safer side, banks should set up offices to create accounts or change money on the arrival in the banking accounts.

Only option left with above actions implementation is smuggle foreign currency through shipping or other illegal entry and exit points. Law enforcement agencies should find a way to stop this.
Illegal money can easily be traded in the open seas.

Good recommendations but Our corrupt elite are not interested in it.

 

[Tit4Tat]

In Pakistan, almost everywhere unauthorized foreign currency is available.
In each city, town Foreign currency buyers and sellers are available who are working without any authorization.
These illegal buyers have built huge reserves of illegal foreign currency in their houses.

If we can only stop them and make a law to bring this money out and in the legal channels, we can easily pay back our loans without any impact on the foreign reserves.

So law should be as follows,

1. No one should be allowed to keep a single note of any foreign currency in range of any value.

2. People should be given a time of three months to change currency to local currency.

3. After this period, any foreign currency with any person should be considered as illegal money if not available in any proper and legal banking channel.

4. Money exchanger data should be connected with immigration authority staff to check the currency movement. No person should be allowed to take a single currency note without record matching. A three layer security check system should be introduced on all immigration points such as Police, FBR, Military etc. A layered system is a better choice to stop any illegal activity.

5. People coming back from the other countries should be provided with some authorization to change the money in the local market or to be on safer side, banks should set up offices to create accounts or change money on the arrival in the banking accounts.

Only option left with above actions implementation is smuggle foreign currency through shipping or other illegal entry and exit points. Law enforcement agencies should find a way to stop this.
Illegal money can easily be traded in the open seas.

Who told you that there is unauthorised currency dealer at every corner?
try opening a money changer shop yourself and you will be caught in no time

money changers are being monitored very closely, obviously there will be issues but not like you said that foreign currency is bought and sold at every corner

 

[Kam]

Who told you that there is unauthorised currency dealer at every corner?
try opening a money changer shop yourself and you will be caught in no time

money changers are being monitored very closely, obviously there will be issues but not like you said that foreign currency is bought and sold at every corner

I did not mean that. Hoarding foreign currency is illegal in your houses or bank lockers.
Foreign currency should not be kept by anyone other than legal accounts.