ISLAMABAD: A Senator of Pakistan People’s Party (PPP) on Friday tabled a motion in the upper house for a ban on currency notes with 1,000 and 5,000 denominations.

Usman Saifullah, who is also a member of the Senate Standing Committee on Finance, tabled the motion and said there are increased chances for currency notes of bigger denominations to be used in money-laundering and corruption; hence, big currency notes are being discouraged across the world.

Citing an example from India, Usman also underscored the need for Pakistan to ban both currency notes with 1,000 and 5,000 denominations.

It should be mentioned here that Indian government led by Prime Minister Narendra Modi announced to put a ban on currency notes of one thousand and five hundred denominations.