The colour of money

During his interview to Doordarshan telecast on Monday evening, Pakistan8217;s Chief Executive struck a red-faced picture of innocence. There is no insurmountable problem that can stymie a new era of economic prosperity on the subcontinent, General Pervez Musharraf said, if only that prickly issue of the status of Jammu and Kashmir is suitably addressed. Rich words. At a time when Islamabad is modulating tensions in the Valley to dangerous new highs, when it is organising demonstrations of solidarity for the terrorists stalking the state8217;s picturesque countryside and waving placards about Kashmir being the new flashpoint, its operatives have simultaneously launched an insidious economic offensive. In the process, the masterminds in Pakistan8217;s ISI have augmented militants8217; rapidly reinforced supplies of RDX and AK-47s with suitcases of counterfeit currency.

This latest diversification in the proxy war seeks to strike at the very root of economic confidence in India. What multiple benefits it offers wilyexecutors. The implications of generous infusions of fake notes for the general financial well-being of a nation are evident. But at a micro-level, it also sows seeds of doubt in the mind of the common man as he worriedly scans notes for watermarks and tiny special intaglio features during routine transactions. And worry and apprehension are the most potent weapons in any terrorist8217;s arsenal. At this point it would be pertinent to enquire whether invoking the ISI to make sense of this menace is justified. After all, couldn8217;t it just be petty criminals seizing an easy opportunity to make a killing with the help of a sophisticated computer scanner?

Certainly, every crude imitation cannot be traced to alleged printing workshops in Muzaffarabad in Pakistan-Occupied Kashmir. But there are significant clues that indicate strong Pakistani involvement. One, most major hauls of weaponry in various parts of the country from operatives of militants groups have also yielded huge amounts of counterfeit currency. Two, aPakistani diplomat in Nepal was recently, and equally famously, found to possess a considerable amount of fake Indian cash. Three, what is one to make of the fake Indian currency recovered last week from three passengers on the Samjhauta Express? Under no circumstances can charges of ISI involvement be dismissed as a convenient alibi.

Look at the issue from the other side. For the sponsors of terrorism, counterfeit currency is more than a weapon of destruction. It offers them a neat little opportunity to convert a low-cost war into a no-cost war. And routes of entry are abundant. While most of the seizures reported have been in Punjab and Jammu and Kashmir, with their painfully porous international borders, it is feared that the Indo-Nepal border is being more frequently criss-crossed for such nefarious deeds, making the task incredibly daunting for the Indian authorities. Executing frisking and security checks to catch operatives inevitably invites howls of protest about human rights violations. But it isa thorough operation the security forces can shirk from only at their own peril. And the nation8217;s.