In a bid to control the circulation of money and address concerns over black money, Pakistan is considering the phasing out of 5000 rupee notes. However, this decision has ignited a national debate on its effectiveness in curbing hyperinflation and illegal financial activities.
Economic experts argue that while demonetization can play a role in controlling inflation, comprehensive measures are needed to combat corruption and smuggling effectively. Large denomination notes are seen as facilitating these activities, making it crucial to discourage their use.
Across the border in India, a similar move is underway, with the government phasing out 2,000 rupee notes to tackle black money. This decision has also sparked discussions on its impact and effectiveness.
The key question remains: Will phasing out 5000 rupee notes truly address the economic challenges at hand, or are more holistic measures required to achieve lasting results? The debate continues as Pakistan and India grapple with economic issues on multiple fronts.
