Govt directs FIA to start operation against dollar hoarding
The operation is being launched in coordination with State Bank and Ministry of Finance.
ISLAMABAD (Dunya News) – The Government has directed Federal Investigation Agency (FIA) to launch a full fledged operation against dollar hoarding, and speculative currency trade.
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.
Government has directed FIA to launch a full fledged operation against Dollar hoarding, and speculative currency trade the operation is being launched in coordination with State Bank and ministry of Finance
— Ch Fawad Hussain (@fawadchaudhry) April 5, 2019
The annoucement comes few hours after Finance Minister Asad Umar said that no further rupee devaluation is likely and rumours should not be spread as they damage the market.
Addressing a gathering at the Pakistan Stock Exchange through video link, the finance minister said economic stability is government’s foremost priority.
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He maintained that companies with large setups are present in Pakistan but they are only fulfilling the domestic needs. The collective value of Pakistan’s economy is $300 billion, he said.
The finance minister stated that we have to transform our laws for international investments. Economic stability requires practical steps and the incumbent government is working hard to achieve the goals, he added.
Asad Umar urged the industrialists to invest in the market and advised all to not waste money by buying dollars.
