Demonetize the 5000, 1000 notes in Pakistan?

[I S I]

Yh lets just leave 0.5% of the population paying Taxes.... lets leave Pakistan to rot.... and not fight corruption....

Cut this crap please. All of Pakistan pays hefty indirect Taxes. What is tax meaning in your book? Who cuts my 25 rupees on every 100 rupeea recharge?

 

[Ajaxpaul]

Real Estate must have plunged in india. No official data has come out.

Personally I feel it's good because real estate will cool off and not form a big bubble like the US.

 

[Fireurimagination]

I think things are almost normal now in India, the availability of new 500 and 2000 notes are growing by the day, it's just one more week and things will be back to normal I guess. Then on 31st December we will come to know how much stacked black money Modi has managed to wipe out estimation is 1.5-2 trillion rupees

 

[EpiiC]

Cut this crap please. All of Pakistan pays hefty indirect Taxes. What is tax meaning in your book? Who cuts my 25 rupees on every 100 rupeea recharge?

Pakistan needs this .... $51b current revenue is awful....

 

[sady]

In longer run yes. however it is a useless excercise if there are no institutions to moniter digital money. FBR, FIA should be based on IRS. lumpsome money transfers checked and the origin ascertained 'follow the money' I guarantee you if we do this there will be minimum corruption and terrorism. It starts from small notes and eventually ends up as investment in gold, diamonds, real estate and dollars. Mega corruption on international scale is a different matter and has its own dynamics.

 

[Laozi]

Did you see what happened in India?
Sorry dont want to punish our people(more than they already are being punished by the govt)

No way..
Watch the current status of India....
People are dying just for exchanging new notes..

FYI almost $ 200 Billion is coming into the banking system

Do you have any idea how much it will affect our $ 2 Trillion economy ?

 

[Margarita]

It won't reduce corruption in Pakistan because it won't catch black money hoarders off guard. They would have already been anticipating similar moves by GOP and might have invested in other assets like gold or real estate.

Similarly, this strategy will not again work in India for at least a couple of decades. Thankfully, Modi was smart to not let anyone know about demonetization until the announcement.

 

[EpiiC]

In longer run yes. however it is a useless excercise if there are no institutions to moniter digital money. FBR, FIA should be based on IRS. lumpsome money transfers checked and the origin ascertained 'follow the money' I guarantee you if we do this there will be minimum corruption and terrorism. It starts from small notes and eventually ends up as investment in gold, diamonds, real estate and dollars. Mega corruption on international scale is a different matter and has its own dynamics.

Right, the current government will only make such a move if they aren't corrupt themselves..

It won't reduce corruption in Pakistan because it won't catch black money hoarders off guard. They would have already been anticipating similar moves by GOP and might have invested in other assets like gold or real estate.

Similarly, this strategy will not again work in India for at least a couple of decades. Thankfully, Modi was smart to not let anyone know about demonetization until the announcement.

Only 16% ppl in Pakistan have a bank account.... it will force people to open bank accounts going digital will...

FYI almost $ 200 Billion is coming into the banking system

Do you have any idea how much it will affect our $ 2 Trillion economy ?

Thats big benefit mate, $200b for start and much more to come.... Now the percentage of PPL who pay tax in India will go up from 2.5% to atleast 5%?

 

[Margarita]

Only 16% ppl in Pakistan have a bank account.... it will force people to open bank accounts going digital will...

At least 60 to 70 percent of the population should have a bank account before taking such structural reform. second, I am not sure how confident Pakistanis are with online transaction and how good digital infrastructure is there. India, though not comparable to best, has pretty decent digital infrastructure and people have built trust in online transaction thanks to booming e commerce and e wallet players like Paytm.
I think once the two pre requisites are in place Pakistan can think of such reform but as I said before Pakistani leadership has to think out of the box now as this strategy won't work anymore.

 

[Zibago]

FYI almost $ 200 Billion is coming into the banking system

Do you have any idea how much it will affect our $ 2 Trillion economy ?

After harming those who are economically sensitive?
No thanks not a fan of making poor people suffer

http://m.firstpost.com/business/dem...g-a-crisis-for-cooperative-banks-3113630.html

 

[EpiiC]

At least 60 to 70 percent of the population should have a bank account before taking such structural reform. second, I am not sure how confident Pakistanis are with online transaction and how good digital infrastructure is there. India, though not comparable to best, has pretty decent digital infrastructure and people have built trust in online transaction thanks to booming e commerce and e wallet players like Paytm.
I think once the two pre requisites are in place Pakistan can think of such reform but as I said before Pakistani leadership has to think out of the box now as this strategy won't work anymore.

A source has stated that by 2025 60% of the population will have a bank account....I can't wait that long.

 

[Zibago]

At least 60 to 70 percent of the population should have a bank account before taking such structural reform. second, I am not sure how confident Pakistanis are with online transaction and how good digital infrastructure is there. India, though not comparable to best, has pretty decent digital infrastructure and people have built trust in online transaction thanks to booming e commerce and e wallet players like Paytm.
I think once the two pre requisites are in place Pakistan can think of such reform but as I said before Pakistani leadership has to think out of the box now as this strategy won't work anymore.

Its unrealistic to expect such high digitization of fiscal system in a place with computer literacy issues it should be promoted but expecting people to shift in such a short time period is something that is not possible

 

[AshishDelhi]

Pakistan should wait and watch though few things can be started now like opening bank accounts and digitization. Why would you pay bills by handing down cash and wasting your time. Why go to ATM, take out cash, manage it and pay grocers, electricity company or cab. Digital is the way to go. Less black money, more convenience.
Digitization will not happen just by internet and smartphone. You need complete eco system. It might be a good opportunity for IT start ups. Pakistan is a big economy. 16 % etc is too less. You already have CNICs, just open accounts and digitization.
See Kenya example.

 

[Zibago]

A source has stated that by 2025 60% of the population will have a bank account....I can't wait that long.

In Pakistan after tax on current account number of active account holders has actually fell and we will see a similar trend for as long as the tax isnt overturned

 

[Margarita]

After harming those who are economically sensitive?
No thanks not a fan of making poor people suffer

http://m.firstpost.com/business/dem...g-a-crisis-for-cooperative-banks-3113630.html

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