Government of Pakistan has cracked down against several foreign exchange firms after receiving information from State Bank of Pakistan that billions of dollars have been transferred out of the country illegally. Federal Investigation Agency has taken into custody the directors of some of the big exchange companies.
The foreign exchange reserves of the country have fallen sharply during the past few months because of this illegal flight of dollar. In six months the foreign exchange reserves of the country have fallen from $16bn to a level below $7bn. The situation is further compounded by a rising import bill. I support the action which the government has finally taken. The government should also enusre that the money that has been illegally transferred should be brought back to the country. I hope that the responsible people should not be let-off without any action.
Government of Pakistan has cracked down against several foreign exchange firms after receiving information from State Bank of Pakistan that billions of dollars have been transferred out of the country illegally. Federal Investigation Agency has taken into custody the directors of some of the big exchange companies.
The foreign exchange reserves of the country have fallen sharply during the past few months because of this illegal flight of dollar. In six months the foreign exchange reserves of the country have fallen from $16bn to a level below $7bn. The situation is further compounded by a rising import bill. I support the action which the government has finally taken. The government should also enusre that the money that has been illegally transferred should be brought back to the country. I hope that the responsible people should not be let-off without any action.
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