Islamabad (HRNW) Federal government decides revolutionary action to stop transfer of funds to terrorists۔ To stop terror funding through national investment schemes, the government has decided to introduce biometric screening and confirmation for investors.
Pakistanis have invested Rs4,038 billion (Rs4 trillion) in national investment schemes. The Ministry of Finance has vowed to safeguard the interests of the seven million investors.
The government will seek the help of commercial banks for this project through a bidding process. Whichever bank is selected will verify the details of existing and new investors. The UK’s Department for International Development (DFID) is helping with the automation of 153 schemes.
Investors who were informed of this new policy were supportive. They said it will be a pain but it’s a good step that should be supportive. Another investor said the 10 or so minutes it will take for the biometric verification won’t be an issue.
The State Bank will begin the bidding process soon to get the project rolling.