Islamabad
The Governor, State Bank of Pakistan, Reza Baqir called upon the Prime Minister of Pakistan, Imran Khan at the PM Office on Wednesday to discuss the overall financial situation of the country.
Governor State Bank apprised the Prime Minister in a briefing about the economic situation of the institution and the state.
Sources privy to the government disclosed that both dignitaries exchanged ideas in a pleasant environment and recent stability in the rate of US dollar also came under discussion in the meeting.
The briefing also underscored matters pertaining to the rate of exchange, lending, and profit. The State Bank of Pakistan (SBP) on August 24 warned of strict action against the illegal foreign exchange operator.
In a statement, SBP said that the bank will crackdown on illegal money changer, hundi and hawala operator across the country.
The SBP said that only banks and authorized dealers were allowed to do foreign currency business with the public. Foreign currency business and transactions through unauthorized entities were illegal, read the statement.—INP
