Following the directives of the federal government to initiate a crackdown against the hoarders of the US dollars and speculative currency dealers, the Federal Investigation Agency (FIA) Lahore arrested on Sunday three currency dealers and seized currency worth Rs40 million.
An official said the action was taken on the directives of FIA's Punjab Zone-I Director Mohammad Waqar Abbasi, who instructed authorities to take strict action against those involved in dollar hoarding, money laundering, hundi/hawala (illegal money transfer) and illegal speculation regarding the de-valuing of Pakistani rupee.
Upon receiving the directives, the official added, Waqar Abbasi had constituted six teams and carried out raids at all money exchanges in Lahore and inspected their records. During the inspection, a sum of Rs40 million was seized from DD Exchange Company Lahore. Two FIRs have been registered against the DD Exchange Lahore, the official said.
"Investigation is in progress and startling revelations are expected from them especially against hoarders of the dollars .The action of FIA decreased the rate of dollar in the open market. It will continue till the end of dollar hoardings artificially," concluded the official.
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