Chairman standing committee seeks report from FIA till Dec 22 on steep fall in rupee price


Chairman standing committee on interior senator Rehman Malik while taking notice of persistent fall in the value of rupee has sought comprehensive report from FIA till December 22 on this matter.
Rehman Malik expressed grave concern over continued fall of rupee value and persistent hike in the price of dollar Saturday.
About expression of ignorance by Prime Minister (PM) Imran Khan about devaluation in rupee, Rehman Malik said this can not be accepted that PM and Finance Minister (FM) of a country are unaware of devaluation of rupee and hike in price of dollar. If PM plea is accepted then what are those elements who are involved in this matter. Such elements will have to be brought to light.
He directed FIA to investigate all stake holders under irregularities and foreign exchange act. FIA should probe what is reason behind abrupt fall in the value of rupee. What is the role of foreign exchange agents in the fall of rupee price. It has been done in the past that that some agents in connivance with each other lifted the dollar from market to create artificial shortage and State Bank have to purchase dollars at higher rate due to some unavoidable reasons. Who and within what span of time they decide to devalue rupee. Has some specific group benefitted from devaluation of rupee. Secrecy was kept into consideration upto what extent while devaluing rupee. On July 17 dollar value had jacked upto Rs 128 from Rs 107 and this scaled up from Rs 128 to 134 and Rs 144 all of a sudden on November 30.
He demanded government should make public the pledges and promises made with IMF for repayment of loans. FIA should look into the role played by foreign stock exchange, finance ministry and state bank.
It is need of hour that the elements and factors leading to fall in price of rupee should be brought before the public, he stressed.