AGL 40.25 Increased By ▲ 0.24 (0.6%)
AIRLINK 127.60 Decreased By ▼ -0.39 (-0.3%)
BOP 6.57 Decreased By ▼ -0.03 (-0.45%)
CNERGY 4.50 Decreased By ▼ -0.10 (-2.17%)
DCL 8.61 Increased By ▲ 0.13 (1.53%)
DFML 41.90 Increased By ▲ 0.42 (1.01%)
DGKC 87.94 Increased By ▲ 1.36 (1.57%)
FCCL 32.65 Increased By ▲ 0.51 (1.59%)
FFBL 65.00 Decreased By ▼ -0.42 (-0.64%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.59 Decreased By ▼ -0.90 (-0.81%)
HUMNL 14.57 Decreased By ▼ -0.18 (-1.22%)
KEL 5.12 Decreased By ▼ -0.01 (-0.19%)
KOSM 7.54 Increased By ▲ 0.42 (5.9%)
MLCF 41.50 Decreased By ▼ -0.15 (-0.36%)
NBP 59.51 Decreased By ▼ -0.58 (-0.97%)
OGDC 194.00 Decreased By ▼ -0.69 (-0.35%)
PAEL 28.25 Increased By ▲ 0.30 (1.07%)
PIBTL 7.80 Decreased By ▼ -0.20 (-2.5%)
PPL 151.80 Increased By ▲ 0.63 (0.42%)
PRL 26.55 Decreased By ▼ -0.33 (-1.23%)
PTC 16.19 Increased By ▲ 0.19 (1.19%)
SEARL 82.60 Increased By ▲ 4.40 (5.63%)
TELE 7.67 Increased By ▲ 0.28 (3.79%)
TOMCL 35.50 Decreased By ▼ -0.17 (-0.48%)
TPLP 8.18 Increased By ▲ 0.27 (3.41%)
TREET 16.11 Increased By ▲ 0.22 (1.38%)
TRG 52.91 Increased By ▲ 0.15 (0.28%)
UNITY 26.50 Decreased By ▼ -0.05 (-0.19%)
WTL 1.24 Decreased By ▼ -0.03 (-2.36%)
BR100 9,923 Increased By 2.8 (0.03%)
BR30 30,761 Increased By 9.2 (0.03%)
KSE100 93,565 Increased By 340.7 (0.37%)
KSE30 28,992 Increased By 107.4 (0.37%)

A large number of people from different walks of life and trades have urged the Government and the State Bank of Pakistan (SBP) authorities not to do away with the Rs five currency notes and continue the same in the circulation all over the country as valid.
Customers at various shopping centres, tradesmen and retailers said that the closure of the One- and Two-rupee currency note by the Government had 'fuelled' inflation in the country.
The closure of the Rs 5-rupee coin was introduced but it did not become a readily accepted coin and continues to be shunned by the people.
Consumers maintain that Rs five currency notes are easier to carry and exchange than coins. Secondly, gradually the inherent value of the rupee in the market is being eroded due to the coinage usage and the compulsory circulation of Rs five coins instead of currency notes would add to inflation.
Many people argue that once the five-rupee coin is forced upon the public, it will soon be the official comment that Rs ten currency notes were too cumbersome and should be replaced by coins in the denomination of Rs ten, thus adding further inflation in the country.
The State Bank of Pakistan reportedly maintains that Rs five currency notes are requiring replacement very soon, due to soilage and damage to the notes in daily handling whereas coins would not require replacement that early.
However, people in general do not buy this argument and maintain that the State Bank of Pakistan is already making huge profits and the people's demand, that Rs five currency notes be continued in circulation even in the new financial year, be accepted.

Copyright United Press of Pakistan, 2004

Comments

Comments are closed.