Opportunity lost

The rupee is constantly losing its value. Previously, NGOs and welfare institutions had been contributing significant amounts of foreign currency to the national economy. And that is through legal means. They had been faithful in playing their role in developing the nation right from the start and had never been found involved in any anti-state activities.

However, now due to certain policies of the government, opening new accounts has become a cumbersome task. There are claims that these restrictions aim to curb foreign funding of terrorists, but the only result is that most NGOs and welfare institutions divert funds to other countries. The government of Pakistan should review its policies towards these institutions, and allow banks to open new accounts for such welfare institutions which have already been scrutinised by the government.

Ifrahim Mathew

Bangkok