After India, Pakistan mulls to withdraw Rs 5,000 and Rs 1,000 currency notes
Pakistan Peoples Party Senator Osman Saifullah Khan had submitted a resolution in the Senate, seeking withdrawal of Rs 5 ,000 and Rs 1 ,000 currency notes to reduce illicit money flows and encourage people to use banking services.
“The house urges the government to take steps to withdraw from circulation as legal tender the high denomination Rs 5 ,000 and Rs 1 ,000 notes so as to reduce illicit money flows, encourage the use of bank accounts and reduce the size of undocumented economy,” reads the resolution.
Earlier, Indian Prime Minister Narendra Modi announced the demonetisation of Rs 1 ,000 and Rs 500 banknotes, making these notes invalid in a major assault on black money, fake currency and corruption.
- Pakistani police hunt PM Imran Khan's nephew over PIC attack11:41 PM | 14 Dec, 2019
- Pakistan to chair 63rd session of UN Commission on Narcotic Drugs09:54 PM | 14 Dec, 2019
- TCM: Pakistani scientists successfully test first traditional Chinese ...09:22 PM | 14 Dec, 2019
- Pakistan ranked the world's best holiday destination for 202008:56 PM | 14 Dec, 2019
- PM Imran Khan meets Saudi crown prince on day-long visit08:39 PM | 14 Dec, 2019
- Brad Pitt addresses rumours regarding dating actress Alia Shawkat02:12 PM | 14 Dec, 2019
- Khuda Aur Mohabbat is coming again with season 301:59 PM | 14 Dec, 2019
- Tabla legend Ustad Ajmal Khan passes away in Islamabad12:50 PM | 14 Dec, 2019
- Zameen.com launches new Plot Finder tool to facilitate online plot ...07:25 PM | 22 Nov, 2019
- Azadi March: Chaudhry brothers active for compromise talks as Fazl ...12:08 AM | 5 Nov, 2019
- 8 Reasons to buy HONOR 8 Series04:49 PM | 23 Oct, 2019
- Meet members of Pakistan’s first-ever National Youth Council05:05 PM | 1 Jul, 2019