The Federal Investigation Agency (FIA) and intelligence agencies have completed their preparations to launch a grand operation against US dollar hoarding a day after the government empowered ant-crime agency to take measures to curb greenback’s smuggling sources said on Saturday.Sources said that the FIA, intelligence agencies and State Bank of Pakistan (SBP) have widened the scope of investigation and prepared lists of companies and individuals – who according to them are involved in US dollar hoarding.Sources further claimed that the regulators have acquired two years of data of exchange companies.
Lists of individuals, who acquired ‘unusual amount’ of US dollars, have also been prepared, they added.Moreover, sources added, FIA and intelligence agencies have also started collecting details of owners, including their assets, from banks. The regulators were briefed that a large number of US dollars were kept in bank lockers, they claimed.Sources also said that the anti-crime agency will use advanced technology to scan bank lockers to recover US dollars. A day earlier, the caretaker government empowered FIA to exercise its authority to control the smuggling of sugar, US dollars, Urea and petroleum products in the country.According to the notification, the government empowered the anti-crime agency to take necessary measures to tackle the prevailing smuggling issue.
The FIA will be able to exercise its authority and take necessary measures at all entry and exit points of foreign currencies.Furthermore, FIA zonal directors have been instructed to report to the agency’s headquarters on a day-to-day basis via relevant channels.It is pertinent to mention here that the caretaker government has announced the commencement of a crackdown against greenback smuggling following the identification of facilitators linked to government officials.
To combat dollar smuggling, hoarding, and organized crime, the caretaker government decided initiating a comprehensive crackdown.The identification of facilitators and patrons among government officials has already taken place, and a list has been compiled for this purpose.A day earlier, it was reported that the US Dollar (USD) rate dropped in the open market after an administrative crackdown and deployment of plain-clothed law enforcement personnel at exchange companies across the country.
“The law enforcement personnel monitoring dollars’ sale and purchase in exchange companies,” secretary exchange companies body Zafar Paracha has said.Plain-clothed law enforcement personnel have been deployed on the premises of exchange companies across the country. “We had requested to the administration to deploy plain-clothed officials outside the exchange companies,” President Forex Association of Pakistan Malik Bostan stated.
“Our members had complained that the black mafia agents giving headache to them,” he said. “These agents grab the people, coming to the exchange companies for dollars, outside the premises of the companies,” Bostan stated.
