Senator Zehri Urges Action Against Black-Market Trade

Senator Samina Mumtaz Zehri of Balochistan Awami Party (BAP) recently highlighted the alarming impact of black-market trade on Pakistan's economy during a session in the Upper House. She expressed serious concerns about the detrimental effects of illegal activities such as smuggling, which have led to financial losses amounting to one trillion rupees.

Senator Zehri urged the government to take immediate action to address issues related to black-market activities, including illegal currency trading, oil smuggling, and tax evasion. She emphasized how these unlawful practices were negatively affecting the general public and taxpayers, underscoring the urgent need for intervention to curb such activities.

In response to the growing problem, General Asim Munir, Chief of Army Staff, launched a crackdown on illegal currency traders and hoarders to mitigate the economic losses caused by black-market activities. An intelligence bureau report identified numerous individuals and companies involved in illegal currency trade, shedding light on the magnitude of the issue.

Senator Zehri proposed greater transparency in foreign remittance procedures to promote legal channels over unauthorized methods. She stressed the significance of collaborative efforts among relevant institutions to effectively tackle the problem.

During the session, Law Minister Senator Azam Nazir Tarar acknowledged the finance minister's involvement in budget preparations and requested a comprehensive response in his presence. Senator Mohsin Aziz of Pakistan Tehreek-e-Insaf (PTI) highlighted various sectors, including IPPs, land, sugar, automobile, and smuggling, as contributing factors to the country's economic challenges.

Deputy Chairman Senator Syedaal Khan deferred further discussion on the agenda, indicating that additional information from relevant departments would be provided to the house in due course.

The concerns raised by Senator Zehri shed light on the pressing need to address black-market trade and its adverse effects on Pakistan's economy. The government's crackdown on illegal activities and the call for enhanced transparency in financial transactions signal a step towards combating these challenges. Collaborative efforts and decisive actions are crucial in safeguarding the country's financial stability and promoting lawful economic practices for the benefit of all citizens.