Banks issued counterfeit currency on Eid: Senate Standing Committee on Finance
The committee chairman said that the value of dollar is being artificially controlled
ISLAMABAD (Dunya News) -- Senate Standing Committee on Financed disclosed on Friday that banks have issued counterfeit currency on Eid-ul-Azha. Saleem Mandviwala said the counterfeit notes were used throughout the country during Eid, reported Dunya News.
Senate Finance Committee Chairman Saleem Mandviwala said that counterfeit currency was issued by banks to customers on Eid al-Azha across the country. Committee member Kamil Agha said that one bank had issued counterfeit currency during Eid. Officials of State Bank told the committee that banks do not issue any notes without checking.
The committee directed the State Bank officials to deploy machines in every branch till 2017 to verify currency. The committee was told by the officials that 2 machines have been purchased to check counterfeit notes. In 2015, value of money decreased by 2.5% while it had dropped its value by 3% in 2014.
The committee chairman said that the value of dollar is being artificially controlled adding that State Bank had released additional dollars to control price of dollar.
