Ban on Rs1,000 and Rs5,000 notes proposed

Ban on Rs1,000 and Rs5,000 notes proposed

Pakistan Currency News

ISLAMABAD: As the India banned big denominations Pakistan currency notes
to eradicate corruption, the voice for putting ban in has also been
raised in Pakistan, Business92 reported Friday.

Moreover, Pakistan People’s Party (PPP) Friday moved a motion in the Senate for
a ban on currency notes with 1000 and 5000 denominations.

PPP Senator and member of the Senate’s Standing Committee for Finance,
Usman Saifullah tabled the movement and also said there are increased chances
for Pakistan currency notes of bigger denominations to be used in money-laundering
and corruption; hence, big currency notes are being discouraged across the world.

Furthermore, citing an example from India, Usman also underscored the need for Pakistan
to ban both currency notes in Pakistan.

It should also be mentioned here that Indian government has also recently put a ban on
currency notes of one thousand and five hundred denominations.

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One thought on “Ban on Rs1,000 and Rs5,000 notes proposed

  1. 95Clarita

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