Banning Rs5000 currency note in Pakistan has been the most discussed debateto avoid bankruptcy and help improve the economy and banking sector. Theban will also help end bribery in the country.
However, in this regard, renowned business tycoon Aqeel Karim Dhedhihighlighted his views over banning Rs5000 note.
In a detailed discussion in BOL News’ talk-show *Abb Baat Hogi* with FaysalAziz Khan, Aqeel Karim said that instead of banning, the government shouldfocus on improving the corrupt system of Pakistan.
He further added that the Federal Board of Revenuelink(FBR)should take immediate steps to end corruption and bribery rather thanbanning the currency note.
The business tycoon said that there is no such thing that corruption onlystands with the higher currency, it all depends over the corrupt system.
Further in his discussion with the host, Aqeel Karim asked whether Pakistanplans to work in Dollars or Euros or the business community would facechallenges with the currency loss.
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Somehow the move can help stabilize Pakistan’s existing problems but if themove is taken suddenly then it can also lead to chaos, he added more.Watch Full Episode Here:
Earlier, former FBR chairman Shabbar Zaidi believes that the governmentshould go for the demonetization of the Rs5000 note from July onwards.
“5000 Rupee Notes. Demonetize from July 1, 2021. Announce two monthsearlier,” said Zaidi in a tweet. The accountant said that in order to gothrough with the demonetization the government should announce a“transition” period so that the plan goes smoothly.
He had also suggested that those hoarding gold in lockers should have toinform the government if bullion is being held and the government shouldalso monitor bullion trading.