FIA ordered crackdown on Hundi operators
In an effort to control the continued devaluation of the Pakistani rupee against the dollar, the government has ordered the Federal Investigation Agency (FIA) to carry out an “immediate crackdown” against illegal money changers and hawala and hundi operators.
According to the details, the Chief of Staff of the Director General (DG) of the FIA issued a notification to all area offices, ordering to launch a crackdown on illegal money changers and hawala and hundi operators.
The notification stated that the continued devaluation of the Pakistani rupee was having a negative impact on the economy. A weekly report of the crackdown will be sent to the Director of the Economic Crime Wing (ECW) of the FIA.
“In the meantime, Area Directors will keep an eye out to prevent possible corruption under cover of operations,” the notification reads.
The decision to take action to stop the smuggling of US dollars was taken at a meeting chaired by Finance Minister Miftah Ismail.
It is pertinent to mention here that the Pakistani rupee weakened by 8.66 paisa against the United States (US) dollar in the interbank foreign exchange market over the past week.
According to a weekly report, the greenback closed at Rs236.84 against the national currency, down from Rs228.18 at the start of the business week.
In the open market, the US Dollar appreciated by Rs 6.50 to close at Rs 241 from Rs 234.50 at the start of the business week.