Infostani Reporter-FIA authorities and sensitive institutions have prepared for targeted raids on the homes of dollar hoarders to recover dollars. They have identified these houses across the country with the help of data obtained from exchange companies. According to reliable sources, the dollar mafia has stored dollars in their homes in response to the ongoing crackdown against them. As a result of the crackdown, the dollar’s price in the open market has dropped by 31 rupees. On September 1, the dollar had reached a high of 328 rupees.
It was closed at the highest level. On the other hand, the news of the closure of exchange companies has created an atmosphere of harassment in this sector. Malik Muhammad Bustan, the Chairman of the Exchange Companies Association of Pakistan. Contacted the government and the relevant authorities on Tuesday. Officials said that at present. The government is blaming the exchange companies for the increase in the value of the dollar. And pressuring them to close these anchor companies. Malik Bustan clarified to the authorities that the exchange companies have no role in increasing the dollar rate. However the black market, reference market. Illegal currency dealers are responsible for the increase in the dollar rate.
Crackdown on Illegal Trade and Currency Exchange Operations Involving Dollar
We need to take effective action against any tech company found guilty of illegal dealings, and we will cooperate with the government. Meanwhile, the FIA is cracking down on the illegal trade of Handi Tasah across the country. The FIA Composite Circle Gujarat conducted a raid at Sarfa Bazar Mandi Bahauddin and arrested two suspects. Azeem Akhtar, and Umar Arshad, were involved in Handi Handi and illegal currency exchange. They were engaging in an unlicensed money-changing business. And had in their possession 691 Saudi Riyals, 1000 Turkish Liras, 300 Euros, 12 lakh 10 thousand rupees. Along with several Malaysians, Chinese Yuan, and prize bonds.
The accused faced a registered case, and the FIA Faisalabad Composite Circle team apprehended Bahir Shehzad. The owner of a private factory, along with three other suspects: Muhammad Abid, Muhammad Imran, and Abdul Rahman in separate incidents. They had domestic and foreign currency, laptops, and mobile phones in their possession. Babar Shehzad, the owner of a water pump manufacturing factory on Jhang Road, had 660 British Pounds, 12 lakh 88 thousand rupees, a laptop, and a mobile phone recovered from him.
In Gaya, authorities arrested individuals in the Siddhar Bypass and Jinnah Colony area of Faisalabad. They seized 1500 Saudi riyals, 500 UAE dirhams, and 2500 rupees from the suspects. The police have filed cases against the individuals. According to the staff reporter from Karachi, FIA State Bank Circle arrested a reference operator named Abdul Kareem, the owner of Global Mobile, during an operation in Star City Mall Sadar and took Pakistani cash from him.