Customs Preventive foils bid to smuggle foreign currency | CustomNews.pk

Customs Preventive foils bid to smuggle foreign currency

PESHAWAR: MCC Preventive, Peshawar foiled an attempt of smuggling of 3.5 million Saudi Riyals to Afghanistan under the garb of exports. On credible information through a Federal intelligence department, Collector MCC Preventive, Peshawar Mr. Asif Saeed Lughmani directed Deputy Collector Yawar Nawaz to tighten vigilance at Customs Station Torkham. Two trucks were identified and kept under strict vigilance on the night between 9th and 10 December. The trucks were intercepted by the team of Customs Preventive Peshawar at Customs Station Torkham. A thorough search resulted in recovery of 19 million Saudi Riyals concealed in a crate of oranges (Kinnow) from one truck and 16 million Saudi Riyals concealed in the hub of a wheel of the other truck. The recovered currency amounts to approximately 145 million Pakistani Rupees. The drivers and cleaners of both trucks have been arrested and FIRs have been lodged. MCC Preventive, Peshawar is leading the Border Task Force on anti-money laundering constituted on directives of the Prime Minister as a step for anti-money laundering. Money laundering diminishes government tax revenue and therefore indirectly harms honest taxpayers. It also makes government tax collection more difficult. This loss of revenue generally means higher tax rates than would normally be the case if the untaxed proceeds of crime were legitimate. Customs authorities are also closely watching flight of capital through over-invoicing. An official said the neighboring countries are taking advantage of Pakistan’s desire to keep cordial relationships with the neighbors.
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