GOVERNMENT disbursed new currency notes equivalent to 20 thousand crore taka in circulation before Eid-ul-Fitr. Every year govt used to do so through Bangladesh Bank; this year the amount is exceptionally large. It is true that demand for fresh currency note increases during Eid festival. But perhaps a new phenomenon was added with this demand. It seemed that government was suffering from cash constrain. So, to meet necessary expenditure govt was compelled to print new currency notes and make its entrance in money circulation. We should keep it in mind that this year Eid festival had come just after financial year was over. At the end of financial year government usually feel pressure to pay off pending bills. Anyway that pressure is over and Eid festival also ended happily. But additional currency notes remain in circulation.
Money management is a complicated matter. Inefficient management of this sector can create reign of black money. In that case national economy suffers seriously. Legal process of money circulation becomes fragile and wicked players become active to get unlawful advantage by creating imbalance in money management. In that case it is very difficult to control inflation; moreover money-laundering become irresistible. Once this circle becomes active, control over monetary system looses its strength. It is a dangerous reality for national economy.
We should keep it in mind that our state machinery is not running smoothly for various reasons. So, advantage-seekers may try to fulfil their lust by using this opportunity. Memory of scandals like stock market manipulation, Hall Mark, etc are still fresh in our mind. Mentionable reserve of Bangladesh Bank was hacked and that mystery is yet to be solved. There are many more scandals unrecorded and untraced. In this circumstance extra cash currency in circulation can create more trouble and extra pressure for national economy. Ultimately mass people will suffer with extra financial burden. So, extra cash currency now in circulation should be withdrawn immediately in a smooth process as our national economy does not feel any extra burden.
Money management is a complicated matter. Inefficient management of this sector can create reign of black money. In that case national economy suffers seriously. Legal process of money circulation becomes fragile and wicked players become active to get unlawful advantage by creating imbalance in money management. In that case it is very difficult to control inflation; moreover money-laundering become irresistible. Once this circle becomes active, control over monetary system looses its strength. It is a dangerous reality for national economy.
We should keep it in mind that our state machinery is not running smoothly for various reasons. So, advantage-seekers may try to fulfil their lust by using this opportunity. Memory of scandals like stock market manipulation, Hall Mark, etc are still fresh in our mind. Mentionable reserve of Bangladesh Bank was hacked and that mystery is yet to be solved. There are many more scandals unrecorded and untraced. In this circumstance extra cash currency in circulation can create more trouble and extra pressure for national economy. Ultimately mass people will suffer with extra financial burden. So, extra cash currency now in circulation should be withdrawn immediately in a smooth process as our national economy does not feel any extra burden.
