Islamabad: Mar 25, 2022 (TNS): On 25-03-2022, a zoom meeting with the Zonal Directors and Circle Incharges was chaired by the worthy Director General FIA on Dollar Appreciation and FIA’s Action on Currency Black Market since 01.03.2022.
Director ECW briefed the worthy Director General that PKR depreciated by 13.75 % against the US$ since May 2021-surge from 152.27 to 181.92 PKR.
He was further briefed main reason of appreciation as;
1-High Demand.
2-An increased in Current Account Deficit.
3-Low Foreign Direct Investment(FDI)
4-Fall in Foreign Exchange Reserve.
5-Foreign Exchange Black Market
6-Fall of Kabul.
7-Russian-Ukarine Conflict
8- Delay in release of IMF tranche
9-Political uncertainty
With respect to the FIA’s Action on Currency Black Market since 01.03.2022, he was briefed that 24 FIRs were registered, 50 culprits were apprehended and currency, local and foreign, equivalent to more than 100 million PKR was seized.
The worthy Director General appreciated the efforts made by FIA Directorate of KP, Punjab-I & Punjab-II and emphasized the importance of campaign against the Currency Black Market and directed to place more efforts to curb this menace.
