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Thursday, February 25, 2021

PAK, troubled by corruption and sinking economy, will ban 5000 note for dealing

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Ban can be imposed on the use of 5000 rupee note (5000 rupee note) in Pakistan. Syed Shabbar Zaidi, former head of the Federal Board of Revenue of Pakistan, has advised the government to ban the note. Zaidi says that the note should be banned by July 1, 2021 to deal with issues such as corruption and the sinking economy. Let me tell you that corruption is a big problem in Pakistan and the economy is going bad for a long time.

Shabbar Zaidi says that the government should announce this decision in advance, so that the transfer can be done easily. He believes that those who oppose the demonetization probably do not know how much misuse of 5000 notes is used. Zaidi said that if we ban notes, the economy will improve and the banking sector will prosper. Also, there will be reduction in cases of bribery and corruption.

Price rise in Pakistan

He also suggested that those hoarding gold in lockers should inform the government if bullion is being conducted and the government should monitor bullion trading. Significantly, the economy of Pakistan is in a bad state. Due to this the retail inflation rate is also very high here. Apart from this, the issue of corruption is the biggest in Pakistan. Here people have to bribe for every small task.

5.7 billion dollars of debt has been taken

Let us know that Pakistan is facing severe economic crisis. The situation has become so bad that he is on the verge of bankruptcy. Pakistan has again taken a new loan of $ 1.2 billion to save the sinking economy. With this new amount of debt, in the first quarter of the current financial year, Pakistan has so far raised new borrowings of $ 5.7 billion.

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