The Information Minister Fawad Chaudhry said on Friday that the Federal Investigation Agency (FIA) was directed by the federal government to initiate a “full-fledged operation” against dollar hoarding and speculative trade.
The minister tweeted in which he stated that in coordination between the State Bank of Pakistan and the Ministry of Finance, an operation is being launched.
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
This decision was taken by the government after the rupee has weakened to a great extent against the dollar. The worth of the US dollar in the open market is Rs142.10. this has resulted in great pressure and stress on the financial authorities.
This move by the federal government is seen as a try to make things stable, ease the tensions and save rupee from further devaluation.