Wednesday, May 31, 2023

FIA sealed 3 currency markets due to smuggling of US dollars

The Federal Investigation Agency (FIA) sealed three markets during an operation in Khyber Pakhtunkhwa’s largest currency market to put an end to the black marketing of US dollars in order to strengthen the rupee.

On Sunday, the operation launched in collaboration with the police against currency dealers in Chowk Yadgar.

Official sources said that more than 250 operations have been conducted this year against currency dealers involved in hundi, hawala, and black marketing of dollars and other foreign currencies.  

The raiding party was also accompanied by local police, and officials were seen sealing the plazas.

“You know that there is economic instability in the country and that US dollars are being smuggled out of Pakistan,” CBC’s assistant director Shafqat Jamal told mediapersons after the raid.

He said raids were being carried out to stop the smuggling of dollars outside Pakistan.

The CBC officials said that the agency had so far carried out around 257 raids since January 1, 2022. It arrested 305 people allegedly involved in Hundi Hawala. They also stated that currency smugglers who were apprehended were charged under relevant sections of the law.

The officials said local and foreign currency worth Rs666.180 million had so far recovered. In addition, the FIA’s KP zone had made the highest number of raids and arrests.

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