Demonitisation.

Byline: Ahmad H. Ghumman - Islamabad

THIS is apropos the article 'Time to demonitise?' (Feb 17). The demonitisation of high-denomination currency notes, i.e. 5,000 rupee note, has become a highly desirable action in the backdrop of the prevalent menaces of corruption, tax evasion, drug trafficking and other illegal financial transactions.

It would definitely help state institutions in their overall drive to curb the above-cited malpractices. Demonitisation may also support the process of documentation of economy and transformation of informal economy into formal economy.

I also agree with the said write-up that demonitisation, if properly implemented, will reduce the use of black money in the upcoming elections and its consequential influence on public policy. This is a great economic step, and it also carries seriously positive implications.

However, the beneficiaries of black money will not allow the process of demonitisation to go smoothly and effectively. I fully endorse the assertion that the demonitisation process must be initiated after appropriate due diligence, and with full preparedness and proper...