The Detrimental Effects of 5000 Rupee Currency Notes on Pakistan's Economy
In recent years, Pakistan has been grappling with economic challenges, including inflation, a growing trade deficit, and a high debt-to-GDP ratio. One factor that is often overlooked in discussions about the country's economic woes is the widespread use of 5000 rupee currency notes. https://twitter.com/thepakistan2021/status/1651806231722598400?s=20 Introduced in 2006, the 5000 rupee note is the highest denomination of currency in Pakistan. While it may seem like a convenient way to conduct large transactions, the use of these notes has serious negative implications for the economy. Firstly, the prevalence of 5000 rupee notes makes it easier for illicit activities, such as money laundering and tax evasion, to take place. Criminals can easily transport large amounts of cash without attracting suspicion, and those who are able to avoid paying taxes can use these notes to store and move their wealth. Additionally, the widespread use of 5000 rupee notes exacerbates the issue of counter...