This letter refers to the news report ‘Overseas Investors Chamber of Commerce (OICCI) calls for abolishing Rs5000 notes’ (May 22, 2024). This will apparently help prevent currency circulation. For starters, ATMs should stop dispensing Rs5000 notes because these notes are more of a problem than a convenience for a middle class consumer. If he/she is buying a small amount of groceries, more often than not, the small shopkeeper often does not have change for Rs5000.
Dr Anwar Kabir Sheikh
Lahore