Nationwide crackdowns
ISLAMABAD: The caretaker government’s crackdown against the smuggling and hoarding of the US dollar and sugar yielded much awaited results. The value of the US dollar and sugar has significantly dropped in the country.
On Tuesday, the dollar-rupee exchange rate in the open market fell to 298 rupees as against 333 rupees a week ago. It shows a huge decline of 35 rupees in the value of the dollar against Pakistani currency in open market trading.
In the inter-bank, the greenback, nonetheless, stayed around 300 rupees, down from 307 rupees a few ago.
Nationwide crackdowns have caused a blow to value of the US dollar and sugar.
Meanwhile, the value of sugar has declined to 150 rupees per kg, from 190 to 200 rupees/kg a week ago.
During the week-long crackdown, the law enforcement officials have seized foreign currency, and bags full of sugar and also arrested smugglers and hoarders. The retailers who were minting money through artificial price-hikes have ended this exploitation of customers.
The government has announced cash rewards for citizens who would provide information about the foreign currency smuggling and hoarding.
To facilitate this, the Federal Investigation Agency (FIA) and the Ministry of Interior set up a toll-free number.
Federal and provincial teams conducted raids in Lahore, Rawalpindi, Islamabad, Faisalabad, Peshawar, Quetta, and Dera Ismail Khan.
In Rawalpindi, the district administration sealed 13 godowns in Tayyaba Market and Rattaamral. They also confiscated over 1,000 sugar bags each weighing 50 kilograms.
Meanwhile, five shops in Dalgaraan and Naswar Bazaars were also sealed for hoarding sugar. In Peshawar, the district administration recovered 311 tons of sugar bags from godowns on Daraband Road.
In Quetta, a major crackdown was underway against the sugar mafia, with the local administration recovering 250 tons of sugar and 750 tons of urea fertilizer in the outskirts of the provincial capital.
In Faisalabad, the district administration raided sugar storages within the city’s revenue limits to combat artificial shortages and black market sales.
In Lahore, an agreement was reached between the Punjab government and sugar mill owners to sell the commodity at a rate of Rs 140 per kilogram.
In Dera Ismail Khan, the local administration conducted raids on marked godowns on Daraband Road, recovering 5,000 bags of sugar. Similarly, in another raid, 650 bags of hoarded sugar were seized from the Maryali superstore.
