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Demonetization

India’s prime minister has taken a very bold step in curbing corruption by demonetizing five hundred and thousand rupee notes without prior notice. Although it has caused immense suffering and hardship to the impoverished Indian masses, it may help in reducing corruption to a great extent. In Pakistan, however, it seems the government is encouraging corruption. We have prize bonds of all denominations up to Rs. 40,000 which are readily convertible, in addition to currency notes of Rs. 500, Rs. 1,000 and Rs. 5,000. Our government should also remove high-denomination currency notes and prize bonds from circulation. Not only will this significantly reduce corruption, it will also be a death blow to the nation’s enemies (smugglers and drug dealers).  

SHAKIR LAKHANI
Printed on December 12, 2016

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