To ensure the strengthening of the US dollar reserves in the country, the Federal Investigation Agency (FIA) will be investigating the activities of about 100 people who allegedly bought more than $ 63 million from various companies registered in Lahore, which are believed to have been either smuggled into Afghanistan or stored for profit taking over the last couple of months.
The FIA Lahore has sent notices to approximately 100 people asking them to report to it on October 15th about their alleged involvement in the purchase of US dollars in high volumes.
These people will be interrogated with the aim of buying such a large amount of currency, especially over the past 45 days.
Lahore-based FIA director Muhammad Rizwan led teams to gather intelligence from the exchange company’s headquarters in the city after they received reports of large dollar smuggling to Afghanistan.
According to the department, the actions of the FIA stopped the outflow of the dollar from the country. “Following an investigation, action will be taken against those involved in money laundering and the collection of US dollars,” a FIA representative said as collected information from listed companies helped to identify those who bought the dollars. wholesale.
As per the law, if a person buys $ 35,000 (from an exchange company), the transaction must be reported to the State Bank of Pakistan (SBP) and for purchase of more than $ 50,000, the buyer must obtain SBP approval. In many cases, buyers work with exchange companies, even if they bought more than $ 100,000 in five or six transactions, so as not to report to the SBP because he refers to such events in the FIA and the FBR.