Pakistan New Currency Notes
A major decision has been taken in the State Bank, and a principled decision has been taken, Jameel Ahmed, who is the governor of the State Bank, while talking to the journalists, has said that the State Bank. Pakistan has decided not to print any currency, but what kind of currency will be used? The special steps being taken will be the new design and the new serial number. The features to recognize will be universally applied to it also states that design work started in March, which means that the work will be completed by March 2024.
Expiration large-size notes:
It has also been told about the issue of the notes, they had complained here that like the note of one thousand rupees before We were also told that the load of 1000 rupees was the most fake in the market, then there was a note of 5 thousand five hundred rupees. There were 500 rupees notes, the larger old ones, and the larger size of 100 rupees were all phased out. After that, new notes were introduced, including thousands of rupees, and 500 rupees, which we can see that 100 There were also notes of rupees, which were earlier in large size but became smaller in size, some of the currency that was left with people The government had extended its time, but it should be seen here that there were large size notes of five rupees two years ago Expired large-size notes with maturity up to 30 December 2024 which are convertible.
Why this big currency is being changed?
The most important question is why this big currency is being changed in the market
A survey was conducted that the respectable cash economy of Pakistan is very high. People are keeping money at home. This was one of the steps to be taken in the deposit, and here is what Shabar Zaidi, who was the former chairman of FBR, said. He also tweeted cute saying that Willie is late but a good decision to change the currency. He suggested that large-size notes should be scrapped so that large-size notes can be used. The money that people have kept in their houses can be bought in the market and the most important issue here is that the more currency.
Pakistan’s black money:
Circulation happens in the market, so there is more inflation, and here, who has also spoken to Mirin, they have also been said that the biggest problem is Pakistan’s black money, which is not in the tax net, which has been targeted.
Experts have suggested that the most important thing that will be seen here is the note of five thousand rupees. What decision is going to be taken because all the currency has been discussed, this proposal of five thousand notes was given and it was eliminated.
Currency notes will come and here the most important question is what is the plan of the old currency and its economy along with it. The biggest problem is the Rs 5,000 note which people have hidden in their homes in the form of black money is not in the tax net when it comes to a new currency and exchange of the old currency. So now, by giving your identity or something, you will get it registered and give it to the government, that is, you will become a State Beneficiary.
Also read: Bank of Punjab
Currency circulation and inflation rate:
Let us look at the currency circulation, i.e. the more notes are printed, the more inflation increases, and these experts also say this. That Pakistan has to print the minimum amount of notes and the biggest problem is that the notes are large. As the circulation of 5000 notes in the market increases, other currencies are also printed due to the same.
So there is a big question mark on the note of 5000, in which we who are the former chairman of FBR, Shumpar Zaidi, even if for example. He said many times, many times when he was also the chairman, he said that large currency is a big problem. Black money in its form people convert or keep money of corruption in it must be eliminated along with other currencies.