Federal government breaks all past records of Currency Notes printing in Pakistan
KARACHI: Pakistan government has started to follow the bad practice of printing more and more currency notes in order to meet the growing expenses and give an artifical boost to the economy without keeping in mind the adverse effects of such practice over the the rising inflation for the general public.
The government has printed currency notes worth Rs 89.18 billion within one week of April.
Sources said that first time in the history of Pakistan stashed notes has been scaling up from the level of 37 trillion 61 million.
In the first week of April on average notes worth 12 billion 740 million has been issued from the government.
Due to allowance of new notes in record worth, an increase of Rs 89 billion 110 million and 50, 00,000 has been recorded in the worth of stashed notes in the market and in this way overall volume of stashed notes has been observed on the highest level of Rs 37 trillion 61 billion and 650 million in the history of Pakistan while net volume of issued notes has been scaled up from the level of 37 trillion 61 billion and 810 million.
Professionals said that government despite of low income started printing new notes instead of controlling expenditures which is being tolerated by public in result of high inflation.
In the regime of premier government, notes worth Rs 17 trillion 8 million has been printed so far.