Currencies
ISLAMABAD: The Federal Investigation Agency (FIA) has recovered more than Rs3.86 billion in both domestic and foreign currencies during raids conducted this year.
The agency disclosed this on Thursday during a meeting held in Islamabad. DG FIA Mohsin Hasan Butt chaired this important meeting.
Additional Director Generals, Zonal Directors, and other senior officers of the agency participated in the meeting.
During the meeting, it was noted that over 28 plazas, markets, and shops had been sealed as a result of nationwide raids. Throughout the year, the FIA conducted a total of 390 raids against individuals engaged in illegal currency exchange activities. In the same period, the agency registered 382 cases and arrested 557 individuals.
The KP zone apprehended 250 individuals, Lahore zone detained 68, Gujranwala zone arrested 24, Faisalabad zone nabbed 48, and Multan zone apprehended 43 suspects. Likewise, Islamabad zone arrested 20 individuals, Karachi zone detained 64, Hyderabad zone apprehended 23, and Balochistan zone arrested 17 individuals. All these individuals were involved in currency exchange activities without the necessary licenses, and the assistance of law enforcement agencies was sought to apprehend them.
Director General FIA emphasized the need to intensify raiding operations against individuals connected to Hundi activities.
He also stressed that, based on solid evidence, appropriate punishment should be administered to those involved in the smuggling of foreign currency.
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Pakistan bans import of 200+ items under the ATTA to discourage smuggling
Meanwhile, in a bid to discourage the smuggling of important items, the caretaker government imposed a ban on the import of more than 200 items under the Afghan Transit Trade Agreement.
For decades, the Afghan Transit Trade has been a source of smuggling in Pakistan. It caused a dual loss to Pakistan _ damage to local industry and loss of tax revenues.
According to an SRO of the Federal Board of Revenue, 17 types of clothes, all types of vehicle tires, tea leaves, cosmetics and dozens of toiletries have been banned.
Similarly, nuts, dry and fresh fruits, home appliances including fridges, refrigerators, air conditioners, juicer, and mixer blenders have also been banned under the ATTA.
Moreover, since July 6 of the previous year, the government allowed trade of all products via land routes to Kabul in Pakistani rupees.
Meanwhile, commodities like wheat, flour, sugar, and urea have been added to the essential commodities list to strengthen the legal framework.
