Information Ministry’s Summary about Rs15 Collection via Power Bills, Finance Ministry has been informed and SBP Governor Confirms Remittance Boost
ISLAMABAD: According to a report, the Ministry of Information and Broadcasting has drafted a summary proposing the collection of a Rs15 radio license fee through electricity bills.
On Thursday, the Ministry of Finance informed the Senate Standing Committee on Finance and Revenues that the information ministry had prepared a summary to raise TV/radio license fees from Rs35 to Rs50.
The Senate Standing Committee on Finance, convened under Senator Saleem Mandviwalla at the Parliament House, discussed the issue of the increasing volume of hundi/hawala.
The committee pointed out that the hundi business facilitates annual remittances of $6 billion to $8 billion. Tightening measures for remittances by the State Bank of Pakistan could discourage the hundi business.
SBP Governor Jameel Ahmed reported that the last financial year saw $27 billion in remittances sent. The bank is actively focusing its efforts on channeling all remittances through the banking system.
However, the SBP governor declined to disclose the exact volume of remittances coming through hundi/hawala. He mentioned that remittances through banking channels were expected to increase in the coming months of the current fiscal year.
The governor attributed the decline in remittances to inflationary pressures in various Western countries and other regions.
Regarding measures to enhance remittances through official channels, the SBP governor revealed Pakistan’s plans. The country aims to join a cross-border payment system in Gulf countries. The objective is to of boost remittances through official channels.
