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FBR sees no increase in smuggling of foreign currencies
No Smuggling of Foreign Currency

FBR sees no increase in smuggling of foreign currencies

ISLAMABAD: Federal Board of Revenue (FBR) Customs Intelligence Department has reported no significant increase in smuggling of foreign currencies during the last few weeks.

Sources said that it is almost impossible to smuggle foreign currencies in big quantity owing to concurrent checking and monitoring by the customs staff and other agencies at airports.

The FBR intelligence unit takes action against the smugglers on tip-offs, but the nationwide information revealed no major increase in smuggling of currencies during the last few weeks, sources added.

The FBR has set up ‘Special Bulk Cash Anti-Smuggling Counters’ at all the airports to check the suspected passengers and to especially monitor the outgoing international passengers, they said, adding that the customs staff has authority to check the luggage of any outgoing passenger over suspicion.

According to the sources, the customs intelligence unit has not yet got any report of increase in the smuggling of foreign currencies. The strict screening of passengers by the Anti-Smuggling Counters at airports is the main hurdle for the smugglers to take huge quantity of foreign currencies out of the country.

It is worth mentioning that the Federal Board of Revenue in cooperation with State Bank of Pakistan is struggling to block smuggling of foreign currencies as the FBR and other departments have already taken steps to halt smuggling of dollars and other currencies. To monitor the persons engaged in suspicious activities, the Board is also maintaining a database regarding the individuals visiting the money changers regularly for business.

Moreover, the Federal Investigation Agency (FIA) can also give the Customs department access to Personal Identification Secure Comparison and Evaluation System (PISCES) for pre-screening of travellers. Model Collectorates of Customs should provide the information to FBR, DG (I&I-FBR) and all MCCs, in relation to seizure of foreign currency, while highlighting unique features including assortment of currency, method used for concealment, destination, first statement of the accused, divulging initial information including reasons for such an activity.