Exchange Companies Association of Pakistan (ECAP) on Tuesday expressed its regrets over beating up of the officials of Federal Investigation Authority (FIA) by an exchange firm's security personnel in Karachi. A joint meeting of ECAP and FIA officials was held on Tuesday at the FIA office to resolve the issue occurred after the raid of FIA at an exchange company at Sharea-e-Faisal.
During the meeting, ECAP appreciated the efforts of the FIA against Hundi/Hawala and showed regrets over the incident. The ECAP representatives said that the FIA raid was conducted by men in plain clothes, therefore, the exchange company's guards thought that they are dacoits. However, after intervention of other staff, the situation got under control. Meanwhile, Malik Bostan, Chief Executive Officer of Pakistan Currency Exchange Company and former president of ECAP will hold a press conference today (Wednesday) at Karachi Press Club to clear the situation.