Kyrgyzstan Shuts Down Financial Police Over Inefficiency - Cabinet
Muhammad Irfan Published March 05, 2021 | 11:50 AM
BISHKEK (UrduPoint News / Sputnik - 05th March, 2021) Kyrgyz Prime Minister Ulukbek Maripov has signed a decree to abolish the State Service for Combating Economic Crimes � also known as financial police � over the body's inefficiency, the press service of the Kyrgyz cabinet told Sputnik on Friday.
"The decision was made to abolish the State Service for Combating Economic Crimes under the Kyrgyz Republic government (financial police). The relevant decree was signed by Prime Minister of the Kyrgyz Republic Ulukbek Maripov," the press service said.
The latest official data indicates that Kyrgyzstan's shadow economy exceeded $1.5 billion, or 23.6 percent of GDP, while independent experts say it might range from 24 percent to 43 percent of GDP, according to the cabinet spokesperson.
Additionally, the spokesperson said that business representatives and independent experts have accused the financial police of corruption and illegal meddling.
"[This] indicates the improper performance of its functions by the State Service for Combating Economic Crimes," the spokesperson said.
While the official duties of the Kyrgyz financial police were to predict, prevent and fight economic and corruption crimes, as well as ensure the rights and interests of business entities, in practice, they degraded to mere punitive functions, according to the cabinet.
Related Topics
Recent Stories
Pakistan's progress on tobacco taxation still falls short of WHO guidelines
Man involved in supplying narcotics to students held with 1.48kg hashish
Britain's King Charles III marks first anniversary of coronation
Bilawal constitutes committee to engage with Govt over privatization issue
Crackdown against power thieves intensified in Dera
Federal Ombudsman' regional office holds open court at Paroa Tehsil
Simplification of tax collection, better liaison between businessmen-tax officia ..
Pakistan's satellite mission ICUBE-Qamar milestone in space tech development: Gu ..
French Ambassador lauds Pakistan's role in regional stability
Barrister Naseem Bajwa’s Book "Europe Ki Diary" rekindles passion for national ..
President Zardari arrives in Quetta
Dr Azra Fazal Pechuho visits HM Khawaja Library
More Stories From Business
-
Pakistan's progress on tobacco taxation still falls short of WHO guidelines
1 hour ago -
Pakistan, Japan discuss bilateral cooperation in industry, food security
2 hours ago -
SECP approves PIA’s scheme of arrangement
2 hours ago -
Rupee depreciates by 03 paisa against US dollar
2 hours ago -
Gold rates up by Rs 2,500 per tola to Rs 240,500
2 hours ago -
PSX witnesses bullish trend, gains 862 points
2 hours ago
-
Stocks rise on renewed hopes of rate cuts
2 hours ago -
Rs 520m released for schemes of Wasa
5 hours ago -
ADB reaffirms continued support to Pakistan
5 hours ago -
EU election could force sharp turn in electric car policy
5 hours ago -
Shipping activity at Port Qasim
5 hours ago -
2 plots sealed over illegal construction
5 hours ago