Rs20 & 5,000 notes soon

Society Pakistan & World Affairs
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Rs20 & 5,000 notes soon

By Our Staff Reporter

ISLAMABAD Oct 27: The government has decided to print currency notes of Rs5,000 and Rs20 denominations and their designs were approved by the federal cabinet on Wednesday.

The cabinet, which met here with Prime Minister Shaukat Aziz in the chair, chiefly focused on the Capital Development Authority’s affairs - its performance, structure and future projects.

The cabinet also approved the redesigning of Rs50 and Rs1,000 denomination notes. The ones currently in circulation will be phased out in three to five years.

http://www.dawn.com/2004/10/28/top4.htm

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This should be under Code-Red's tile of historic day.. such devalueof Pakistani currency..

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This is good news.

I remember how unsafe I felt, when I bought my car in Lahore (Mehran, 6 months old). Since the note with the highest denomination was Rs. 1,000 I had to carry 300 notes in a bag. Now it would be 60 notes.

Still a lot, but better than 300.

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^ is not there any concept of CC or cheques in Pakistan or what?

Tommorow if you need to carry 10 L in cash you would demand a 1 lakh rupee note.

Higher denomination is indication of weak purchasing power. Nothing to be happy off IMHO

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Try buying a car in Pakistan on a cheque. :rolleyes:

And yeah: I’m absolutely not happy about having to introduce a higher denomination note. But the purchasing power in Pakistan is weak. That is a sad fact. Now you have two ways to deal with it as a government:

  1. Ignore it and keep using bundles of notes for slightly big purchases.
  2. Have currency notes, that reflect the value of your currency.

IMHO the second way is the better one.

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Correct me if I'm wrong but isnt their a 500 euro note ? does that mean euro is crap weak currency

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yep.

http://www.gupistan.com/forums/showthread.php?s=&threadid=168054

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I wish they'd tell us what they would look like!

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seems the rupee is on road to becoming a Lira...

and, the Rs. 20 should have a picture of Gen Mush! is that ok?
:D

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^ maybe that way a new tradition would be set, as every new ruler would have his picture....imagine Benazir, than Nawaz, than somebody, than mushi, than....:D

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[QUOTE]
*Originally posted by Umer: *
This is good news.

I remember how unsafe I felt, when I bought my car in Lahore (Mehran, 6 months old). Since the note with the highest denomination was Rs. 1,000 I had to carry 300 notes in a bag. Now it would be 60 notes.

Still a lot, but better than 300.
[/QUOTE]

I agree! but what about those who will have machine of fake notes.
Printing one 5,000 bill means a great

think about it 2