5000 Rupees Note Banned in Pakistan ? Asim Munir in action | dollar rate down

 There are four reasons why the 5000 rupee note should be banned in Pakistan. 

Number one is that in developed countries like the US, there is no currency note larger than $100, which is an argument that the size of the currency for a strong economy. It should be appropriate in terms of its value. 

Number two, if five thousand rupees currency notes are banned from Pakistan, the departmental and political people who collect bribes will also be discouraged because such large sums of money can not be exchanged for small notes.  They  requires a lot of effort to collect or keep in a safe place.

Number three, if the large currency note  5000 note is banned, two-way smuggling can also decrease as smugglers can use the small  money.  

Number four will be the end of the documentless economy because it is easy to physically move a 5000 note while hiding it and if the notes are up to 500 or 1000 then crores of rupees.  Black money becomes very difficult to hide and move, so the money has to be moved through banks, and since banks are there, wealth cannot be deposited because proof is also required.

So if the government were to abolish the 5000 rupee note, it would have a very positive impact on the economy. This black money is converted into dollars and then the dollars are used for smuggling.  All the black money that exists has a negative impact on the economy unless this black money can be converted into the productive sectors of the country through legislation.