Fear & panic is spreading due to the news of closing down exchange companies, Malik Muhammad Bustan.

Karachi (19th Sep. 2023) There is a lot of panic in the exchange companies on the news about the closure of the exchange companies and in this regard the Chairman Exchange Companies Association of Pakistan Malik Muhammad Bustan has contacted the government and higher authorities on Tuesday. Senior officials told Malik Muhammad Bustan that at present all the blame for increasing the dollar is falling on the exchange companies due to which there is pressure on the government to close these exchange companies. In response, Malik Muhammad Bustan told him that exchange companies have no role in increasing the dollar carat. Those who increase the dollar rate include black market, reference market and illegal currency dealers, so action should be taken against them. Malik Bustan said that we are with the government if any exchange company is found involved in illegal dealing. The government must take action against it, we are with the government and we will support the government and we will not support those who do illegal work. All our exchange companies are ready to sacrifice, all our exchange companies are with the government and Pakistan Army. Malik Bustan said that it is thanks to Allah that since the crackdown started, today the dollar rate has reduced from 330 to less than 296 and the interbank I have also reduced from 297, the whole nation congratulates and pays tribute to the Army Chief General Syed Asim Munir who took up the burden that the civil government had to take, because of the Army Chief today the sugar rates are decreasing in Pakistan and The dollar rate is also decreasing continuously and in the coming days it may go up to 280 after 290 then 270 and then 250 in the coming days, electricity rates and petrol rates will also decrease. If it continues and the smuggling is stopped, there will be better results. Malik Bustan added that since the crackdown started, the exchange company’s supply has increased and thankfully, the exchange companies have paid 15 million dollars in interbank. have sold which is a huge amount, in the last one year it was not going more than five to seven million, we hope that in the coming days it will be 20 million dollars daily and we hope that exchange companies this September I will surrender 400 million dollars in interbank. Malik Bostan said that many customers have complained to me that they come to the counter of their foreign currency exchange companies to sell, and when the exchange companies give their data to the agency, it After that, the agency people go to their homes and ask that you have sold these Rials, Dirhams, Pounds, and Dollars to exchange companies, so where did they come from? There is a big conspiracy against Govt, Army Chief, Pakistan, I have also spoken to DGFIA Mohsin Butt and higher officials and suggested that a portal should be created in all the houses that have foreign currencies. If they are coming to sell to exchange companies or to deposit in a bank, no agency should stop them on the way, a portal should be created so that if a person wants to sell his foreign currency or the bank If he wants to make a deposit, he should register himself on this portal and get a registration number under the automatic system, if an official asks him on the way, he can show this registration number so that he can change his currency and deposit without fear. They should be given some facility, so if someone harasses them, their mattress number should also be with them. Those people should complain online so that action can be taken against such officials. I think that my suggestion should be implemented immediately and People should be protected, don’t harass them but protect them so that people don’t get worried and scared and go back to the black market and all our hard work and all the hard work of the army chief will go in vain, who have worked to strengthen Pakistan’s economy, smuggling. , has taken up a raft to end hoarding, speculation and we will cross this raft.