De-circulate

For many years, successive governments have all admitted that high value paper currency, including US dollars, Rs5000 notes and the Prize Bonds issued by the SBP, help increase corruption and should be discontinued. In the past decade we have heard about the SBP’s plan to withdraw Prize Bonds and Rs5000 notes from circulation. But each year the State Bank of Pakistan gives an extension. This year has been no different. If the government and the SBP want to reduce corruption significantly and make life difficult for corrupt people they should immediately end the circulation of US dollars, Prize Bonds and Rs5000 bank notes. This will also help increase tax collection, improve the exchange rate, end black markets and increase bank savings.

Engr Shahryar Khan Baseer

Peshawar