With the alarming spread of fake currency in Pakistan reaching new heights, Pakistan Peoples’ Party (PPP) Senator Salim Mandviwala presented a bundle of counterfeit Rs 5000 notes to the Senate Standing Committee on Finance, highlighting the rampant circulation of counterfeit notes.
During the meeting, what's equally alarming was that even the Deputy Governor of the State Bank of Pakistan (SBP), Dr. Inayat Hussain, could not recognize the counterfeit notes.
The incident throws a spotlight on the gravity of the issue, with parliamentarians themselves not immune to the fraud.
However, the Deputy Governor refused to entertain the suggestion of replacing the fake notes with real ones, citing concerns about potential misuse and abuse.
He further said that there is currently no system in place to prevent the printing of fake currency within the country.
Hussain went on to say that even fake dollars are being published across the globe but assured that they were working on improving regulations to control the production and circulation of fake currency within Pakistan.
