IATA balks at mandatory currency declaration
File photo shows a resident holding China's RMB and US dollar banknotes on hands in Qionghai, south China's Hainan Province. PHOTO: XINHUA
The International Air Transport Association (IATA) as well as the private airlines have raised objections over the Pakistani government’s decision regarding the mandatory currency declaration by international passengers to and from Pakistan.
The Civil Aviation Authority (CAA) of Pakistan through a notification on August 16 made the currency declaration by all passengers mandatory, as part of the government’s measures to curb money laundering to fulfil the condition of the Financial Action Task Force (FATF).
However, IATA and the private airlines of Pakistan raised objections over the CAA order. The report said that IATA had also sent letters to the CAA to express its reservations to the new measure.