GOVT DIRECTS FIA TO LAUNCH OPERATION AGAINST DOLLAR HOARDING

ISLAMABAD (9 News) – The Government has directed Federal Investigation Agency (FIA) to launch a full fledged operation against dollar hoarding, and speculative currency trade on Friday. Minister for Information and Broadcasting Chaudhry Fawad Hussain in a tweet said the operation is being launched in coordination with State Bank and Ministry of Finance.

The decision by the government comes at a time of rupee’s weakening against the dollar. At present the US dollar is being traded in the open market at Rs142.10, resulting into enormous pressure on the financial authorities. The move is seen by many as an attempt to ease this pressure and save rupee from further devaluation. Fawad Chaudhry said it was for the first time that a crackdown was launched against influential people. He said it is unfortunate that Hamza Shahbaz did not cooperate with the NAB team, but also obstructed its investigation by attacking the team members. Fawad Chaudhry said it was the commitment of Prime Minister Imran Khan to bring back the looted money of the people of Pakistan. He said whenever an action is taken against plunderers and looters they start crying. The process of accountability will not be hindered by any threat, the minister said, adding that,”From Lahore to Larkana, shrieks of mafia can be heard”. Lamenting that the officials were subjected to torture by Hamza’s security guards, Chaudhry continued that the PML-N workers interrupted the state’s action.