Despite billions of fresh currency notes issued by the State Bank of Pakistan (SBP), black-marketing of fresh notes is going on with a margin of up to 10 per cent in the city.
SBP has decided to utilise the 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 centers to issue fresh notes for free, whereas representatives of SBP BSC would also be present to ensure maximum, efficient and transparent disbursement.
However, all such measures have proved futile due to black marketers busy flouting the SBP measures. They are charging an additional of Rs150 on each currency packet of Rs10 and Rs20. So far as the currency packets of Rs50 and Rs100 are concerned, the vendors are charging Rs250 to Rs300.
The bank branches said that fresh notes are being issued to the masses and anyone can get it. The SBP has directed all commercial banks to issue fresh currency notes to the public and said that violators would be dealt with strictly.
Corruption has reached its peak due to lack of honest Govt.functioniers in all departmen t consequently measures are taken in papers only and nothing else.
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