Pakistan loses $10 billion a year to money laundering: Murad Saeed

News Image

MG News | October 02, 2018 at 02:56 PM GMT+05:00

0:00

October 02, 2018: Minister of State for Communication Murad Saeed Tuesday said that Pakistan loses $10 billion annually to money laundering, while daily corruption in country is over 2 billion as per authentic reports.

Speaking in the National Assembly, he said country’s tax net was being broadened. Due to the worst performance of previous government, country’s institutions including Pakistan International Airlines (PIA) had sustained whooping losses during the last five years. Foreign Chief Executive Officer (CEO) of PIA stole an aeroplane of PIA and sold it.

He said Ishaq Dar fled from the country in the special plane of former Prime Minister. Rs 450 billion were paid by previous government to Independent Power Producers (IPPs) immediately after taking charge of the government in 2013 that too without conducting any audit. Due to bad governance, country’s circular debt has reached to Rs 1,152 billion.

He said the opposition is criticizing the government on converting the Prime Minister House into university.

Pakistan Awami Tehreek (PAT) workers were brutally murdered in Model Town Lahore.

Furthermore, a total of Rs 7 billion was wasted on constructing the boundary wall of former ruling family’s farm house.

He said previous government had appointed their own point men at each department. Their priority was to appoint their own close confidents as head of each institution rather than making appointments on merit. Former Chairman National Database and Registration Authority (NADRA) Tariq Malik was compelled to leave the country. Energy crisis has not yet ended despite tall claims of erstwhile PML-N government. Load shedding has not yet ended from the country.

(APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg