FIA arrests 361 suspects in crackdown on illegal currency trading

ISLAMABAD: The Federal Investigation Agency (FIA) has intensified its crackdown on illegal currency dealers in a bid to control the rising value of the dollar and the devaluation of the Pakistani rupee.

Since January this year, the FIA has conducted 257 raids and arrested 361 suspects across the country. The agency has also seized a total of $478,620 and other foreign currency worth Rs 177 million. In the past two weeks alone, the FIA has conducted 48 raids and arrested 59 suspects, while seizing $106,800 and Rs 20 million in other foreign currencies.

FIA officials said that special raiding teams have been formed across the country to crack down on illegal currency dealers. The officials said that those involved in the smuggling of foreign currency will be punished to the fullest extent of the law.

FIA crackdowns on illegal forex business, huge quantity of currency seized

The FIA has also seized the data of the dealers involved in the illegal exchange and is using all resources to arrest the accused. The agency is also seeking intelligence-based assistance from other institutions in the operations.

The crackdown on illegal currency dealers is part of the government’s efforts to stabilize the economy and control the rising value of the dollar. The government has also taken other measures, such as raising interest rates and imposing import restrictions, to achieve this goal.

The FIA’s crackdown has been welcomed by the business community, which has said that it will help to restore confidence in the economy. The business community has also urged the government to take further measures to stabilize the economy. – INP