Former chairman of the Federal Board of Revenue Shabbar Zaidi has once again called for demonetisation of the Rs5000 currency note from July 1.
He took to Twitter to suggest the government to go for demonetisation as it would make “bribery difficult.”
He said in his tweet: “5000 Rupee Notes. Demonetise from July 1, 2021. Announce two months earlier.”
Shabbar Zaidi urged the government to announce the plan in advance so that transition could take place “smoothly.”
The former chief of FBR believes that those who oppose the idea, have “no idea about abuse” and said the “vested interests” impede the process.
He claimed that the move will improve the economy and banking sector will prosper.
He said demonetisation will make gold trade transparent as locker holders have to inform banks how much gold they have put in their lockers and what the government has to do is to monitor bullion trading.
