Senate adopts resolution to withdraw Rs5,000 banknote

[Saifullah Sani]

The Senate adopted on Monday a resolution to withdraw the Rs5,000 note from circulation.
According to Express News, Pakistan Peoples Party (PPP) Senator Usman Saifullah tabled the resolution, arguing that the note was being used in illegal transactions and should be withdrawn.

Opposing the resolution, law minister Zahid Hamid said the move would have repercussions on the economy and the masses in general, as is unfolding in neighbouring India.

Senator suggests withdrawing Rs5,000, Rs1,000 banknotes

At this, Saifullah said the banknote shouldn’t be withdrawn at once as was done in India, but halting its printing and withdrawing the notes in a time span of three to five years. The House later adopted the resolution.

The resolution was submitted by the PPP lawmaker on November 10, seeking to reduce illicit money flows and encourage people to use banking services.

The move came after India’s recent demonetisation drive, in which notes of 500 and 1,000 rupee notes were pulled from circulation.

http://tribune.com.pk/story/1268006/senate-adopts-resolution-withdraw-rs5000-banknote/

 

[AZADPAKISTAN2009]

Strange a PPP guy talking about corruption when Military /Rangers found few billion Ruppees from Shergil memon home (which is why he is out on the run )

 

[Zibago]

 

[dadeechi]

Pakistan has a Rs 5000 note? What other higher denominations does Pakistan have?

 

[TheNoob]

Pakistan has a Rs 5000 note? What other higher denominations does Pakistan have?

Thats the highest

 

[Trichy]

Lot of people criticize India and Modi for it, now they going to do it. Anyway congrats for this bold move

 

[Khafee]

@Areesh @Indus Falcon @Doordie @war&peace

Khala milgaiee

 

[Qutb-ud-din Aybak]

5000 note ban won't effect ordinary people. they don't use 5000 note mostly. more ever it has been launched just few years ago. and people who have black money already had changed the notes with gold. news was common few weeks ago. It's politician games.
it can't be compared with indian scenario where 1000,500 were ban. which are ordinary man notes.

 

[RIP Pak LAW]

Lot of people criticize India and Modi for it, now they going to do it. Anyway congrats for this bold move

We have been doing it with time to time. Not just bigger notes but even small denominations of Rs 10, 20 have been changed in the last decade or so.

 

[Mughal-Prince]

Pakistanion ki dil ki awaz!

 

[G0dfather]

 

[Valar Dohaeris]

This is entirely different from Indian campaign. Also, the change will not effect common people as 5000 notes is not used so commonly.

 

[Silicon0000]

don't worry soon 5000 note will replace 10000 note. It's Pakistan.

 

[ali_raza]

@Areesh @Indus Falcon @Doordie @war&peace

Khala milgaiee

i want to meet this lady and kiss her hand