Govt rules out freeze on $5.4b FCAs | The Express Tribune
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ISLAMABAD: Top government functionaries, while explaining that the authorities would not inquire about the source of income on foreign remittances up to $100,000, on Monday ruled out any freeze on the $5.4 billion in private foreign currency accounts (FCAs) as part of the ‘Plan-B’. The statements made in the Senate Standing Committee on Finance, and immediately after its meeting, underscore the growing challenges that the authorities face, while remaining afloat without the International Monetary Fund (IMF) umbrella. So far, there was no proposal under consideration at any government level to freeze the foreign currency accounts of the citizens, Dr Aisha Pasha, the minister of state for finance, stated categorically after the committee meeting. She was asked to comment whether there was any proposal to freeze the $5.4 billion foreign currency accounts, if Pakistan remained unable to revive the derailed $6.5 billion IMF programme. She further clarified that Prime Minister...