Cur­rency notes

Pakistan Observer - - OPINION -

MAHNOOR KALEEM This refers to a State Bank of Pakistan ad­ver­tise­ment re­gard­ing the is­suance of fresh cur­rency notes of smaller dom­i­na­tion to the pub­lic on the oc­ca­sion of Eid. How will the new cur­rency note add to the hap­pi­ness of the pub­lic? Will their pur­chas­ing power in­crease or will the ven­dors give them bet­ter mer­chan­dise in ex­change for a new cur­rency note?

In fact, the value of the new cur­rency note would be de­pre­ci­ated tak­ing into ac­count the SMS charges for ac­quir­ing the same, be­sides the has­sle of queu­ing up to col­lect the new cur­rency notes from the bank counter.

It would have been bet­ter if the State Bank had is­sued in­struc­tions to the banks to caters to the needs of their cus­tomers at their coun­ters in re­spect of the is­suance of cur­rency notes, in­stead of fa­cil­i­tat­ing the cel­lu­lar com­pa­nies to aug­ment their rev­enue on ac­counts of SMS charges? — Karachi

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