Black-marketing of new currency bills going on


Despite billions of fresh currency notes issued by the State Bank, black-marketing of fresh notes is going on with very high margin up to 10 per cent in the city. SBP has decided to fully utilize the large network of over 10,000 branches of commercial banks all over the country, and all field offices of SBP Banking Services Corporation (BSC) for distribution of fresh currency notes to the general public during the holy month of Ramadan. To facilitate the general public, certain commercial bank branches in various cities have been designated as express centres, to freely issue fresh notes in abundance, where a representative of SBP BSC would also be present to ensure maximum, efficient and transparent disbursement. However, all such measures are proved a futile exercise as a good number of black marketers are busy flouting the SBP measures openly. These vendors are charging additional Rs 150 on each currency packet of Rs 10 and Rs 20 denomination. So far as the packets of Rs 50 and Rs 100 denomination are concerned, the vendors are charging Rs 250 to Rs 300 additionally in the town.