Bostan said for the last few weeks, the FIA is conducting surprise visits of exchange companies for 'checking' purposes. "We are not against these visits, but a proper mechanism should be adopted to ensure that the FIA visit is fair," he added.
He suggested that an official from the State Bank of Pakistan (SBP) should accompanying FIA team for a surprise visit of any exchange company. In addition, video of entire visit should be recorded to ensure that FIA officials have not abused staff of exchange company. Video camera will also be provided by the association, he added.
Bostan said on his request Finance Minister Asad Umer has assured to devise a proper mechanism for FIA's visits to exchange companies so that they could work freely without any fear.
He said exchange companies are working as per the SBP's rules and regulations and bringing dollars into the country. Exchange companies have surrendered some $13 billion into interbank during last eight years (2010-18), besides fulfilling the general public demand for Hajj, Umrah, travelling, health and education purposes. Some one billion dollars were also given to the present government in four months (August to November), he maintained
The FAP President also sought Rs 2 rebate per dollar on home remittances arrived through Exchange Companies and assured that with this rebate scheme; exchange companies can provide some $500 million to $700 million per month to the government.
Bostan appreciated the FIA operations against Hundi, Hawala and illegal money changers and assured full support in this regard. FIA DG Bashir Memon asked exchange companies to submit proposal for mechanism of FIA's surprise visits.