The economic terrorism unleashed by Pakistan through fake Indian currency note (FICN) may be much deeper and systemic than previously imagined.
The economic terrorism unleashed by Pakistan through fake Indian currency note (FICN) may be much deeper and systemic than previously imagined. The scary picture now emerging is that the fake Indian currency printing may have gone out of the Pakistan establishment’s control.
The Research and Analysis Wing is learnt to have warned the Centre in this regard. Their assessment is that fake currency printing in Pakistan is now under the control of several splinter groups controlled by ex-ISI and ex-Pakistan army officials in alliance with the Taliban, besides the state-controlled groups.
Fake Indian notes are largely printed in Pakistan. It is believed that their official mint is used to print high quality Indian rupees. Intelligence reports say most of the printing work is done in Peshawar, Quetta and Karachi.
“Pakistan’s attempts at destabilising the Indian economy are an open secret. What is, however, worrying is that the faint hope we had of tackling the menace diplomatically might be fading. It seems to have become a free-for-all in Pakistan,” a senior government official said.
In recent months, intelligence agencies are increasingly concerned over surplus import of currency paper and other instruments used to print currency by the Pakistani establishment. It is believed that these are being used to print FICN. New Delhi appears helpless at controlling these attempts at subverting India’s economy. Fake currency notes detected lately are of very high quality.
After printing, the fake currency is transported from Pakistan to ISI conduits in Bangladesh, Nepal, Dubai and Sri Lanka. From there it is pumped into India through the porous borders. Reports indicate that the Pakistan International Airlines is regularly used to transport fake currency out of Pakistan.
The ISI has established a well-entrenched network in Nepal and Bangladesh, being monitored by Pakistani missions in those countries, to ferry fake currency into India.
Unable to stop the inflow of FICN, the government has now decided to help install checks at other places. It will take up the matter with European countries, primarily UK, Sweden, Switzerland and Netherlands, from where India imports currency paper, ink and other secret printing instruments.
Legally, these companies are bound by clause not to sell the same paper to any other governmental or non-governmental agency. But the government has reasons to believe that these companies may have been compromised by Pakistani agencies, who have managed to import the same quality of paper that is being sold to India.
In fact, the government admitted recently to the secret being compromised and cases of thefts of security ink. These are indications of a malady, that the Indian government now realises has assumed pandemic proportions.
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