Going cashless
Published in The News on April 22, 2024
The high crime rate in
Karachi and many other parts of the country makes me wonder why people are
forced to carry so much cash, even when they know that they can be robbed any
minute. It is time for the government to make some rules that help turn the country
into a cashless society. One way to do it is to ban the use of cash to make
purchases over a certain amount (say Rs5000). Another would be to reward those
who pay their bills via cheques or online payments. Unfortunately, some banks
charge a fee from those who make online payments. I recently started paying my
credit card bill online via my bank account (in a separate bank from the one
that issued me the credit card) and I was shocked to find that the receiving
bank charges a rupee for every thousand rupees if the payment is made
electronically. Needless to say, this encourages one to make payments by cash,
and indirectly increases the incidence of street crimes while also helping
facilitate white collar crimes such as tax evasion, embezzlement, bribery, and
smuggling.
Shakir
Lakhani
Karachi
https://e.thenews.com.pk/detail?id=300185
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