Pakistan, April 18 -- The immunity granted to Pakistani residents from inquiry against foreign currency remittances routed via international banking channel will be reformed soon. Government is planning to revise the Protection of Economic Reforms Act 1992 to address the issue.

Tax amnesty scheme is also under consideration and may come into effect in a few days; simultaneously 1992 legislation will stand void if revoked.

To whiten the money without disclosing its actual source the Protection of Economic Reform Act (PERA) 1992 has been widely exploited by the business community which was introduced to promote foreign remittances.

Financial experts are encouraging this move in the best interest of economic affairs while the majority of ...