Staff Reporter :
Finance Minister AMA Muhith said yesterday that the government will withdraw currency notes of Tk 1 and 2 denominations for making smooth financial transaction by public.
“Notes of Tk 1 and 2 will be withdrawn gradually keeping Tk 5 as the lowest denomination,” said Muhith.
The Minister came up with the disclosure while talking to reporters after a separate meeting at Finance Ministry auditorium on raising the volume of the government currency denominators. He, however, did not say when it would happen. “The government has decided to have Tk 5 denominators from Bangladesh Bank onward which will be the lowest denominator in the country. It will withdraw Tk 1 and Tk 2 paper money or metal gradually,” he added.
Finance Secretary Mahbub Ahmed and Bangladesh Bank Governor Atiur Rahman were present, among others, at the meeting. Finance Minister also said the meeting decided to spend Tk300 crore for burning the existing five taka denominators which is a long procedure. According to Muhith, the Finance Ministry now wanted no more part in issuing currency notes.
He said the Tk 1 and 2 notes and coins were now very few in circulation in the market and their utility will gradually come to zero.
At present, Tk1, 2 and five exist in the country in both coin and printed notes. Besides, Tk 10, 20, 50, 100, 500 and 1,000 exist as printed note also. In reply to a question, Muhith said, there is no public support to the ongoing movement of the BNP-led 20-party alliance to unseat the government.
He urged BNP to find out alternative movement strategy as the ongoing activities are destructive for the country’s economy.
Regarding revision of GDP growth of 7.3 per cent in the current fiscal year, Muhith said: “We do not immediately revise current fiscal year’s GDP growth but if the BNP’s blockade continues, the government will consider revising GDP.”
