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Eximbank’s foreign-exchange allocation system came under sharp scrutiny on December 1 as the Public Administration and Appropriations Committee (PAAC) examined whether weaknesses in the national forex framework allow importers to “double dip” by presenting the same invoices to multiple banks.

Appearing before the committee, Eximbank executive Navin Dookeran outlined the bank’s methods for validating pharmaceutical importers and allocating scarce foreign exchange.

However, committee chairman, Speaker Jagdeo Singh pressed him repeatedly on whether those controls prevent manipulation outside of Eximbank’s operations.