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Tuesday, June 18, 2024  
11 Dhul-Hijjah 1445  

Senate dispose of resolution seeking discontinuation of Rs5,000 bill

Info minister says upcoming govt to decide on the matter
A currency dealer is counting Rs5,000 notes. — AFP/File
A currency dealer is counting Rs5,000 notes. — AFP/File

The Senate on Monday disposed of a resolution seeking to discontinue Rs5,000 bill, after Caretaker Information Minister Murtaza Solangi called for leaving the matter to the upcoming government.

PTI Senator Mohsin Aziz tabled a resolution in the Upper House seeking a ban on the highest denomination.

He claimed that the bill is used for money laundering, tax evasion, corruption, terrorism, and smuggling along with an increase in inflation.

Senator Aziz said that a limited time period should be given to surrender the highest denomination while he expressed dismay over the absence of the relevant minister to respond on the matter.

He went on to add that he presented the resolution in February and expected the current government to take measures regarding the matter, however, he called the situation disappointing as the caretaker government was not showing interest in addressing the issue.

Read: SBP clarifies both blue, green color banknotes of Rs75 can be used

Responded to Senator Aziz’s claims, Info Minister Solangi said that Rs5,000 currency notes worth 905 million have been issued so far and added that Rs4.5 trillion are in circulation at the moment.

“The State Bank issues or cancels currency notes as per regular law. During the PTI government, the State Bank Act was amended to further liberalise the State Bank,” he added.

According to Solangi, the caretaker government had limited powers and authority.

“It will be appropriate if the upcoming parliament takes a decision regarding the independence of the State Bank,” he said.

Chairman Senate Sadiq Sanjrani, after hearing both sides, disposed of the resolution.

The Senate also adopted a unanimous resolution, seeking urgent steps and initiatives by the government to promote literacy among children across the country.

The resolution, moved by Senator Sana Jamali, highlighted the fundamental right of every child to access quality education, emphasising the need for gender-neutral, geographically inclusive, and socioeconomically equitable educational opportunities.

The resolution asked the government to take effective steps to promote literacy for children and youth in general and girls in particular across the country, and also strengthen the non-formal education (NFE) system on an urgent basis to deliver the programmes.

It further asked for promoting skills-based and innovative learning models to provide the right to education to out-of-school children and youth with a special focus on girls’ education to facilitate lifelong learning.

The resolution stressed taking steps in order to promote gender equality in education and eliminate disparities by ensuring girls’ and women’s access to quality education, besides eliminating any barriers, impeding their access to education.

It further called for launching comprehensive awareness campaigns to inform both urban and rural communities about the significance of education through outreach programmes, workshops, and community events in collaboration with the stakeholders and partners.

The resolution pleaded for prioritise and substantially increasing the funding for education and literacy programs and devising the mechanisms to ensure transparency in the allocation and utilisation of budgets for education in the country.

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SBP

senate

State Bank Of pakistan

Sadiq Sanjrani

Pakistan Rupee

murtaza solangi

Rs5,000