Pakistan government to charge Rs15 radio license fee in electricity bills, regardless of whether consumers listen to the radio
In an effort to boost government revenues and regulate media services, the Ministry of Information and Broadcasting in Pakistan has proposed a new initiative to collect a Rs15 radio license fee through electricity bills, according to a report by The News.
Recently, the Ministry of Finance addressed the Senate Standing Committee on Finance and Revenues, disclosing that the Information Ministry has prepared a summary recommending an increase in TV/radio license fees from Rs35 to Rs50.
The Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, convened at the Parliament House to discuss various financial matters. During the meeting, the committee highlighted the growing issue of hundi/hawala, an informal money transfer system, which is responsible for handling a substantial volume of remittances.
The committee estimated that an astounding $6 billion to $8 billion transferred annually through the hundi business. To tackle this, they proposed stricter measures by the State Bank of Pakistan to encourage people to use official banking channels for remittances, which could lead to a decline in the hundi business.
Speaking on the topic, SBP Governor Jameel Ahmed revealed that the last financial year witnessed remittances of $27 billion. He emphasized the bank’s commitment to promoting remittances through the formal banking sector and hoped for a significant increase in the coming months of the current fiscal year.
Governor Ahmed refrained from sharing the exact volume of remittances coming through hundi/hawala but attributed the recent dip in remittances to inflationary pressures in Western countries and other regions.
However, there is a glimmer of hope for Pakistan’s remittance inflow, as the country set to join a cross-border payment system in Gulf countries. This inclusion expected to facilitate official remittance channels and potentially boost the overall remittance amount received by Pakistan.
By implementing these initiatives and encouraging the use of formal banking channels for remittances, Pakistan aims to streamline its financial systems and bolster its revenues in the process.