Pakistan can ban large note better than India, says senatorStaff Writer | December 22, 2016
After India took the radical step of voiding the majority of its currency to cut corruption, some politicians in Pakistan want their country to do the same.
Asia To counter corruption and criminal activities
A resolution was passed by the Senate, echoes the reasons given for India’s swift action that caused a severe cash shortage.
Senator Osman Saifullah Khan proposed that Pakistan’s central bank should stop printing the 5,000 rupee note (worth almost $50) and then phase it out over three to five years.
He said if Pakistan did make a move to void currency, it would do it better than India. ■