Former federal minister Faisal Vawda has credited military leadership including Chief of Army Staff (COAS) General Asim Munir for appreciation in the value of Pakistani currency against US dollar.
Talking to a private TV, Vawda said “You should pay tribute… It is a happy day for Pakistan. The [exchange] value of dollar witnessed a decline after army chief issued directives to DG ISI and DG C.”
He said due to the efforts of Gen Munir, the local currency gained Rs15 to Rs16 and in the next few days, it would drop by another Rs10 against the greenback.
The former minister further said that the State Bank of Pakistan (SPB) played no role in stopping the declining rupee. “State bank is incompetent, it could not deal with the matter,” Vadwa said.
Read more: Govt says notification of ban on Rs5,000 note is fake
It should be noted that the rupee continues to appreciate against the dollar in the country and made significant gains in the last two days after authorities launched a crackdown on the currency hoarders and smugglers.
When asked what steps were taken by authorities to alleviate the crisis, Vadwa said they had regulated and controlled the exchange companies and took action against the accused involved in the currency smuggling.
