Former FBR chief calls on government to demonetize RS5000 note

According to former Federal Board of Revenue head Syed Shabbar Zaidi, the government should demonetize Rs5000 note by July 2021. He suggested that the government ought to announce the plan in advance so that the transition will go smoothly. As a result, the move will lead to a better economy and prosperous banking.

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Zaidi says people who oppose demonetization do not understand its abuse, saying personal interests prevent them from gaining from it. Additionally, demonetizing the Rs5000 note will make bribery more difficult.

Source: Business Recorder