Pak adopts resolution seeking Rs 5,000 notes withdrawal

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Pakistan’s Senate on Monday passed a resolution seeking withdrawal of high denomination Rs 5,000 currency notes “in a phased manner” to curb the flow of black money, weeks after India demonetised its high value currencies. Senator Usman Saif Ullah Khan of Pakistan Muslim league tabled the resolution that was endorsed by the majority of lawmakers in the Upper House. The resolution said the withdrawal of Rs 5,000 notes will encourage the use of bank accounts and reduce the size of the undocumented economy, Dawn reported. 

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