Tag Archives: Currency Smuggling

Record Increase in Remittances Remittances from overseas Pakistani workers surged by 48% in July 2024 compared to the same month last year, reaching $2.995 billion, according to data from the State Bank of Pakistan (SBP). This marks a significant increase from $2.029 billion in July 2023. Analysts view this jump as a positive indicator for the government amidst ongoing political …

In a recent report by ACE Money Transfer, a UK-based company, a startling revelation has come to light: illicit activities, including the black market trade and smuggling of United States Dollars (USD), are quietly siphoning off a staggering $23 billion from Pakistan’s economy every year. These clandestine operations, which encompass black market currency trade, oil smuggling, gold smuggling, and challenges …