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PM Shehbaz orders crackdown against dollar hoarders, smugglers

ISLAMABAD: Prime Minister Shehbaz Sharif has ordered the economic team of the coalition government to initiate a stern crackdown against dollar hoarders and those who are involved in its smuggling.

PM Shehbaz said that smuggling of dollars out of Pakistan was widening gap between the interbank and open market value of the dollar in the country.

Premier gave this order to his economic team while chairing a high-level meeting in Islamabad on Wednesday.

A statement issued after meeting said, PM Shehbaz has directed the finance ministry to issue a fact-sheet about the economy of the country to inform the public about the current scenario in Pakistan.

PM issued this order when finance minister Ishaq Dar held smuggling of foreign currency responsible for bringing the value of US dollar to below Rs200.

On Wednesday, US dollar closed at Rs224.70 in the interbank trading while in the open market the dollar-rupee exchange fluctuated around 230 rupees.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.


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