Reports about freezing of foreign exchange accounts denied

The State Bank of Pakistan has categorically denied reports regarding the freezing of foreign currency accounts and sealing of lockers at banks. Describing the reports as totally baseless, State Bank''s spokesman said that there is no such plan under consideration at any level.
The spokesman pointed out that foreign currency accounts are already enjoying protection under Foreign Currency Accounts (Protection) Ordinance 2001. The general public is, therefore, requested not to pay any attention to such rumours and continue their business normally, the spokesman added.
Banking sources said, "Under the Foreign Currency Accounts (Protection) Ordinance no person holding a foreign currency account shall be deprived of his right to hold or operate such account or in any manner be restricted temporarily or permanently to lawfully sell, withdraw, remit, transfer, use as security or take out foreign currency there from within or outside Pakistan".