Demonetize the 5000, 1000 notes in Pakistan?

[EpiiC]

Epic,

Indians are remarkably short-sighted. They voted out Vajpayee in 2004, they will prolly do so to Modi in 2019, if the current crunch continues.

There is great potential to cut graft in taxation process and also in terms of subsidy delivery by going direct transfer- cashless route- what is referred to as JAM (Jan Dhan- Aadhar- Mobile) trilogy.

Regards

SoulSpokesman,

Friend they aren't as short sighted as Pak Leaders ..... The Minister for Finance Senator Mohammad Ishaq Dar has dispelled the rumors about the demonetization of Rs. 5000 currency notes and withdrawal of Rs.40,000 prize bonds.
In a statement issued by the Ministry of Finance, the minister said that these rumors are totally baseless and are spread by the vested interest for ulterior motives.He further said that even no such proposal is under consideration of the government.

Earlier on Friday, Pakistan Peoples Party Senator Osman Saifullah Khan had submitted a resolution in the Senate, seeking withdrawal of Rs 5,000 and Rs 1,000 currency notes to reduce illicit money flows and encourage people to use banking services.

“The house urges the government to take steps to withdraw from circulation as legal tender the high denomination Rs 5,000 and Rs 1,000 notes so as to reduce illicit money flows, encourage the use of bank accounts and reduce the size of undocumented economy,” reads the resolution. Indian Prime Minister Narendra Modi announced the demonetization of Rs 1,000 and Rs 500 banknotes, making these notes invalid in a major assault on black money, fake currency and corruption.

 

[Panther 57]

Thanks for taking your time out to write this, really appreciate it mate..... that 6trillion pkr is $57.2B huge amount of money could be added to Pakistan's Governments budget every year and this we could definitely overtake many economies and enter top 25.

2 years max and PKR will be at par with GBP. Of course there are other factors which could contribute.

 

[EpiiC]

Pakistanio tell me if majority senate pushes for this resolution to scrap 5000 and 1000 note would it take place? which majority would you need?

2 years max and PKR will be at par with GBP. Of course there are other factors which could contribute.

PM ME?

 

[SoulSpokesman]

Epic,

Most BM arises from the process of governance itself- from sourcing of funds ( leakages in taxation) to spending of the same (graft in procurement/subsidy delivery) and everything in between- what we in India call the license-quota-permit system. It is the entire value chain that has to be addressed. D- can be a useful component of a one-time clean up process but is neither necessary nor sufficient for the same.

My suspicion is that at best we can hope to substantially minimise but not eliminate it altogether. Nonetheless even a 25-50% reduction can have huge outcomes for the poor in our subcontinent.

Regards

 

[Swordfish]

Pakistanio tell me if majority senate pushes for this resolution to scrap 5000 and 1000 note would it take place? which majority would you need?


PM ME?

Arey Yarooon, tumsey na hopayega......

 

[EpiiC]

Epic,

Most BM arises from the process of governance itself- from sourcing of funds ( leakages in taxation) to spending of the same (graft in procurement/subsidy delivery) and everything in between- what we in India call the license-quota-permit system. It is the entire value chain that has to be addressed. D- can be a useful component of a one-time clean up process but is neither necessary nor sufficient for the same.

My suspicion is that at best we can hope to substantially minimise but not eliminate it altogether. Nonetheless even a 25-50% reduction can have huge outcomes for the poor in our subcontinent.

Regards

It is said that India will get $200B from this on January... added to economy.... this is just the start India will be shining again....

Arey Yarooon, tumsey na hopayega......

Why man!!! We can't we have good leaders?

 

[Swordfish]

It is said that India will get $200B from this on January... added to economy.... this is just the start India will be shining again....


Why man!!! We can't we have good leaders?

I am sure you do have good leaders, but it requires BIG guts and political will. Thats what I was referring to. Do you think your current government will have the WILL, when your PM is accused of Panama gate.

 

[EpiiC]

I am sure you do have good leaders, but it requires BIG guts and political will. Thats what I was referring to. Do you think your current government will have the WILL, when your PM is accused of Panama gate.

Our PM will never take this step my hope is now in Senate or maybe Imran to push for this.

 

[Panther 57]

Our PM will never take this step my hope is now in Senate or maybe Imran to push for this.

My dear having a hope from Senate is living in fools paradise. They are birds of same flock. Things can only improve if institutions like Supreme Court intervene, because army intervention has always been criticized. For that matter, they could not bring in long lasting changes, because as soon as democratic government came in, changes were undone. Like local government act and restriction on having public office to two tenures. Bureaucracy will not do anything because of their vested interest. It has to be Judiciary, which should make sure that constitution is protected while remaining within constitution. Culprits are taken to task and barred from coming to power again. A lot needs to be done to bring this country on track, even the constitution has to be re-written.

 

[MULUBJA]

I do not understand one thing. When you guys enthusiastically discuss here how it will hurt Indian economy and how people died here standing in queue. Why do you even think of demonization?

 

[EpiiC]

I do not understand one thing. When you guys enthusiastically discuss here how it will hurt Indian economy and how people died here standing in queue. Why do you even think of demonization?

We don't, I'd love for Pak to demonetize...I have applauded India for this move many times...

 

[Swordfish]

I do not understand one thing. When you guys enthusiastically discuss here how it will hurt Indian economy and how people died here standing in queue. Why do you even think of demonization?

Thats a good point.

 

[MULUBJA]

We don't, I'd love for Pak to demonetize...I have applauded India for this move many times...

Thanks for that but not manu people do that here.

 

[EpiiC]

Thanks for that but not manu people do that here.

If they do not care then they can continue to live in a underdeveloped nation... good for them.

 

[Spring Onion]

Thread to discuss if Pakistan could do with following the Indian example opened at request of @EpiiC Any ideas about reducing corruptio, money laundering etc invited.

Come on Kaptaan what good it has brought to India? I mean that emotional decision with so much secrecy in our neighbouring country is going to help little with regard to curbing black money.