Munaf Kalia confessed to illegally transfer foreign currency
November 10th, 2008 by The Online Reporter
Munaf kalia confessed to illegally transfer foreign currency for the last five years; more raids are expected from FIA to arrest more dollar smugglers. FIA got list of 32 people who smuggled 39 billion dollars to other countries. According to reports these money changers were transferring $10 million daily through “Havala” and “Hundi” system, which badly affected Pakistan’s forex reserves.
The sources said Munaf Kalia and Javed Khanani had confessed that they were asked by various locals to transfer their foreign currency to their relatives and friends living abroad. This smuggling of foreign currency has resulted in a massive downward slide in the country’s forex reserves, which have depleted from over $ 16 billion in Oct 2007 and now stand at below $ 7 billion, the sources said.
Lots of local politicians and big daddies of finance are expected to be disclose after Javed khanani and Munaf kalia’s statement. Now let’s see how agencies handle this important issue about currency fraud and punish real responsible.
- 2 Comments »
- Posted in National News
