Cop suspended in counterfeit currency case

The government on Friday suspended Lahore Superintendent of Police (SP) Bilal Qayyum, who was allegedly involved in a case of counterfeit currency notes.

The Establishment Division has issued orders for the initial suspension of Qayyum for 120 days and the commencement of disciplinary action, while awaiting a decision in the inquiry.

Well-placed sources told The Express Tribune that on June 3, 2023, a person named Aamir Iqbal was apprehended for possessing counterfeit notes worth Rs4,995,000 in Muslim Commercial Bank's Emporium Mall branch.

During the investigation by the Federal Investigation Agency (FIA), Iqbal revealed that he had received the money from Qayyum, who was awaiting deputation at the Lahore CPO office. The information was also confirmed by the law enforcers via CCTV footage which showed that Qayyum's car being seen in Nawab Town waiting for the transfer of funds.

Following a relevant court's order, the FIA took Qayyum into custody, but he was released soon after he showed a pre-arrest bail by the Lahore High Court’s Bahawalpur bench.

Counterfeit currency is a significant issue faced by many countries, including Pakistan. It refers to the production and circulation of fake currency notes that resemble genuine banknotes but are not issued or authorised by the country's central bank.

In Pakistan, the problem of counterfeit currency has been a long-standing challenge for the government and the State Bank of Pakistan (SBP). Counterfeit notes not only disrupt the country's economy but also lead to financial losses for individuals and businesses.