| Hundi still in use for over 50pc of money inflows: SBP |
Updated at: 1433 PST, Tuesday, December 29, 2009 KARACHI: State Bank of Pakistan (SBP) Governor Salim Raza Tuesday said the overseas Pakistanis are still sending over 50 percent of their money in Pakistan through hundi or hawala system.He said this while addressing on the occasion of agreement entered between Pakistan Remittances Initiative and Pakistan International Airline (PIA). Salim Raza said the inflows of foreign remittances sent into the country by overseas Pakistanis may soar to $9.50 billion till June 2010. The SBP Governor said the foreign investment is likely to go down by $3 billion in the current fiscal year as compared to last year, which would be offset with the remittances. |
Watch Live TV
0 comments:
Post a Comment