PEW backs PM’s plan against money laundering

ISLAMABAD, Dec 30 (INP): The Pakistan Economy Watch (PEW) on Sunday lauded the Prime Minister Imran Khan’s decision to initiate biggest ever crackdown against money laundering in the history of Pakistan.

The decision will be supported by the masses as it will discourage corrupt nobility responsible for an annual loss of around 10 billion dollars which can reduce the country’s dependence on foreign loans, it said.

The action will dishearten corrupt, improve country’s image, boost economy and investment, and help Pakistan out of the Financial Action Task Force (FATF) grey list, said Dr Murtaza Mughal, President PEW. He said that across the board action will stop the smuggling of dollar, halt the flight of capital, and bring an end to the culture of artificial crisis which benefits select few. Dr. Murtaza Mughal said that action against corrupt politicians and other influential will reduce pollution in politics and help stop the flow of illegitimately earned money to foreign banks. The biggest ever crackdown against money laundering in the history of Pakistan will also help boost the image of the country which is necessary to attract investors, he observed. He said that following the efforts of PM, the friendly countries have help Pakistan a lot as Pakistan got the breathing space that it needed which has compelled IMF to soften its stance. The uncertainty on the economic front has ended due to the assistance provided by the UAE, Saudi Arabia and China and now Pakistan can get a loan from the IMF on favourable conditions. INP/AJ