The economist of Pakistan has given an advice to improve the economic condition of the country. For this, he has advised to follow the footsteps of India.
So that’s why inflation is not decreasing in Pakistan, do demonetisation like India, work will be done
Inflation is at its peak in Pakistan. The poverty in the country is such that people are begging for food here. To get out of the pauper, Pakistan has extended its hand to the IMF many times. Yet only one or two countries have come forward to help it, which is not enough for it.
Meanwhile, the economist of Pakistan has given an advice to improve the economic condition of the country. For this, he has taken inspiration from India and advised to follow its path. Pakistani economist has advised demonetisation to improve the country’s economy. But can Pakistan reduce its poverty by following the path of India? Find out in this report
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Demonetisation happened in India
According to the report published in Business Today, Pakistani economist Ammar Khan has advised demonetisation to get Pakistan out of financial crisis. He said that Rs 5,000 note should be banned in the country. Recently, one of his podcasts is going viral on social media, in which he has suggested to stop the 5 thousand note. He said that India did a great job on the formula of demonetisation and got to see the amazing result of their tax collection. In such a situation, if Pakistan follows this path, then perhaps some improvement can be seen. Let us tell you, in the year 2016, 500 and 1000 notes were closed in India.
Demonetisation in India was a good step~ P@kistani economist Ammar Khan.
Ammar Khan said India’s demonetisation worked “tremendously well” & its “tax collections” rose after that move.
— Kashmir Fact (@KashmirFact)
Circulation is 8 trillion
Ammar Khan further says that about 8 trillion rupees are in circulation in Pakistan without investigation. In such a situation, if these 5 thousand notes are banned, then all of them will come into circulation. There is no digital payment in Pakistan, so most of the transactions here are done in cash only. Whereas here all the work of import export is done in US dollar.
Big people have this note
Most of the rich people have 5000 note. In such a situation, if a decision like demonetisation is taken here, then the general public will not face any problem. Rather, the big people here may have problems with this and there will be opposition to it. He said that due to demonetisation, the 8 trillion rupees which are not in circulation, the banks have not been able to get them, they will get back to the banks. Due to this, the situation here is also likely to improve to some extent.