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Citing India as Example, Pakistan Peoples Party (PPP) Senator Osman Saifullah Khan Suggests Demonetisation

Pakistan's economy has already started making a gradual shift to cash as protection against the government's taxation policies

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Islamabad, November 12, 2016: Taking a cue from demonetisation of higher currency notes in India, a Pakistani opposition party lawmaker has submitted a resolution in the Senate to withdraw 1,000 and 5,000 rupee notes from circulation in the country to tackle corruption.

The resolution submitted by Pakistan Peoples Party (PPP) Senator Osman Saifullah Khan comes at a time when Pakistan’s population is gradually shifting to cash economy due to the government’s ill-conceived taxation policies, said Express News.

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“The house urges the government to take steps to withdraw from circulation as legal tender the high denomination Rs 5,000 and Rs 1,000 notes so as to reduce illicit money flows, encourage the use of bank accounts and reduce the size of undocumented economy,” reads the resolution.

This is the only way that will compel people to use banking channels and launch a crackdown on black money circulating in the economy, said Khan, speaking at a meeting of the Senate Standing Committee on Finance on Thursday.

However, Committee Chairman Senator Saleem Mandviwalla underlined the need for taking the views of all stakeholders.

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The resolution was moved in the Senate a couple of days after Indian Prime Minister Modi announced the demonetisation of Rs 1,000 and Rs 500 bank notes, making them invalid in a major assault on black money, fake currency and corruption.

“At this point, we do not see a reason to withdraw the Rs 5,000 currency note,” Abid Qamar, spokesman for the State Bank of Pakistan, told Express News.

Pakistan’s economy has already started making a gradual shift to cash as protection against the government’s taxation policies, official statistics reveal.

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In fiscal year 2015-16, the growth in banking sector deposits was far lower than the previous year while the currency in circulation increased at a much rapid pace, revealed minutes of the last Monetary Policy Committee (MPC) meeting.

The General Pervez Musharraf-led government had introduced the Rs 5,000 denomination notes despite resistance from the State Bank of Pakistan. The notes made it easy for the people to keep cash instead of depositing money in banks. (IANS)

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Kejriwal’s Door to Door Donation Drive is a Farce: Munish Raizada

Chanda Bandh Satyagraha makes an appeal that AAP should immediately restore donors' list on its website and then only seek new donations.

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Kejriwal
Dr. Munish Raizada along with his Chanda Bandh Satyagraha team outside the office of AAP MLA Jarnail Singh (Tilak Nagar). File photo

Chicago: The Aam Aadmi Party Convener and Delhi CM Arvind Kejriwal has launched a door to door campaign seeking donations for the AAP.  According to former overseas co-coordinator of Aam Aadmi Party, Dr. Munish Raizada, this is nothing more than a misleading campaign!

Raizada says that Kejriwal has no moral right to seek donations from common man as he has dismantled financial transparency in AAP by removing donors list from its website. Displaying donors’ list showing real time donations and making the income and expenditure accounts available online were the basis and the promise of the AAP, emphasised Raizada.

Now, after hiding donors’ list and its balance sheets from the public, the AAP cannot claim to be practising alternative politics.

Munish Raizada, kejriwal
Lack of financial transparency in the Arvind Kejriwal-led AAP prompted a group of NRIs, who once worked to mobilise funds and support for the party, to turn against it. (File photo)

It may be noted that AAP removed the list of donors from its website in June 2016. Moreover, since then AAP has been surrounded with controversies related to donations. AAP had also received Rs 30.67 crore Income Tax notice, last year in November, implying that all is not well with AAP’s accounts, says Raizada.

He further questions Kejriwal, that if AAP has nothing to hide about its accounts and if AAP is honest with its account keeping then why is Kejriwal hiding the donations?

Even the donation policy that was earlier the pride of every AAP volunteer has been done away with. The donation policy on AAP website used to state: “Every single rupee donated to the party will be published on the website immediately along with the details of the donor. Every expense done by the party will also be published on the website.”

But rather than putting the donors’ list in public domain, the party’s corrupt leadership started blaming BJP and I.T. Department for harassing its donors.

 

munish raizada, kejriwal
Chanda Bandh Satygrah demands restoration of  lost values in AAP ( File Photo)

 

Opaque political funding is the fountain head of corruption. Further, Raizada says that if the party cannot be transparent in its political funding, then talking about fighting corruption and graft is a mere rhetoric. He said that the appeals by Chanda Bandh Satyagraha have fallen on deaf ears as far as the party’s

leadership is concerned. 

Chanda Bandh Satyagraha makes an appeal that AAP should immediately restore donors’ list on its website and then only seek new donations. Chanda Bandh Satyagraha was started by AAP’s volunteers in 2016, with an appeal to the public not to donate to AAP unless it makes its donation lists open and transparent.