00:00 So, let's talk about this. We have with us for the discussion,
00:04 the expert in finance, Khurram Shahzad.
00:06 First of all, good morning, Khurram.
00:08 Welcome to Bakhawar Savera.
00:09 Now, in the international market,
00:12 does the currency change every 10 or 12 years?
00:17 Is it like that?
00:18 And how much do we follow this pattern?
00:21 When does the currency change in our country?
00:23 -Hello and good morning. -Hello.
00:26 To both of you.
00:27 As you said,
00:31 changing the currency is not a problem.
00:33 There are new currencies in the world.
00:35 And the security features of new currencies are very important.
00:41 It's important to track them.
00:42 Now, the world is moving towards technology.
00:45 So, this should be done.
00:47 And the side line of the trade bank government has said this.
00:51 So, there is no such thing in writing.
00:53 But if you change the currency,
00:56 then the chances of black money decreasing are less.
01:00 What is the reason for that?
01:02 There are two reasons.
01:03 One is demonetization.
01:05 And the other is replacing the currency notes with new ones.
01:09 In demonetization,
01:11 you erase some of the currency notes.
01:14 For example, we have a 5,000 rupee note.
01:16 And it is said that if you erase a 5,000 rupee note,
01:19 people will run out of cash piles.
01:22 But that is not the case in Pakistan.
01:23 It is not like that.
01:24 The reason for this is that there is a lot of inflation in Pakistan.
01:28 Whenever inflation is high,
01:30 people prefer to keep less money in that currency.
01:33 If inflation is high and the currency is decreasing,
01:38 then you don't keep your assets in cash.
01:41 You try to buy a car, a plot, a dollar or gold.
01:46 This is what happened in Pakistan.
01:47 In the last eight years, this has been the trend.
01:51 I think we have a lot of cash piles.
01:53 And if you change the currency notes,
01:55 people will stop using the currency notes.
01:57 How will that stop?
01:58 You can either reduce the currency notes to a certain extent.
02:02 For example, if you reduce the currency notes to 5,000,
02:05 then there will be a reduction.
02:06 But it has been seen that changing the currency notes
02:10 or even demonetizing them
02:12 doesn't make a big difference.
02:13 It will be the same thing later.
02:14 The only difference is that
02:16 the currency notes are being printed more.
02:19 The reason for this is that
02:21 the currency notes are being printed more.
02:23 The reason for this is that
02:25 the currency notes are being printed more.
02:29 So, if you reduce the currency notes,
02:30 it will be better.
02:31 But printing currency notes is good.
02:33 I will ask you this question.
02:35 When currency notes are printed,
02:36 there is an influx of inflation.
02:39 When the government prints currency notes.
02:40 I will ask you this question.
02:41 But first, let's know the details.
02:44 This happened in India.
02:46 Their currency changed.
02:47 It was a strange and shocking situation.
02:50 How will this happen?
02:51 People's old currency notes will be changed.
02:55 What is the process?
02:57 What is the best way to replace it?
03:00 Again, Sadaf,
03:01 what happened in India was demonetization.
03:04 Let's take a big currency note as an example.
03:07 If it is a currency note of 1,000,
03:09 or a currency note of 5,000,
03:10 it should be removed.
03:11 A smaller currency note should be issued instead.
03:14 People should be told
03:15 that instead of 5,000,
03:17 or instead of 10,000,
03:20 if it is a currency note of 10,000,
03:21 it should be issued for 2,000, 5,000,
03:23 or issued for 5,000, 2,000, 2,000.
03:26 Demonetization is different.
03:28 What is happening here
03:29 is that currency notes are being exchanged.
03:32 It is being replaced with better currency notes.
03:34 There may be a slight difference,
03:36 but it is not demonetization.
03:37 In this, the currency notes that you have today,
03:40 if new currency notes come,
03:41 there are security features in them,
03:43 there are tracking features in them.
03:44 So, this is a good development.
03:46 But demonetization is a different thing.
03:50 In that, the currency notes are being cancelled out.
03:53 If there is a lot of cash in the house,
03:56 it becomes irrelevant.
03:58 People don't get a chance to see
04:00 how much cash was collected,
04:01 how much cash was given,
04:03 how much money was earned.
04:04 It becomes irrelevant.
04:05 This is very rare in Pakistan.
04:07 As I said, where there is a lot of inflation,
04:08 people don't keep money in the currency.
04:11 They convert their currency
04:12 in different currency classes,
04:14 in dollars, in gold.
04:17 Mr. Khurram, these security features
04:20 for a currency,
04:22 what are they internationally?
04:26 And how much do we compete
04:28 with the international currency?
04:31 If you go to Europe or other countries,
04:37 there, paper is used in a different way.
04:41 There are tracking features,
04:43 security features.
04:44 Tracking is the biggest thing
04:46 that can be done.
04:47 But it is a very high tech thing.
04:50 I don't think we can do that.
04:51 The State Bank Governor said
04:53 that there will be security features.
04:55 Of course, there can be tracking numbers
04:57 that are added today.
04:59 It can be better.
05:00 But the good thing is
05:01 that instead of currency notes,
05:04 we bring new currency notes
05:05 with better features.
05:07 Because of which, we can do documentation.
05:09 What should be the purpose?
05:10 The purpose should not be
05:11 that you change the currency.
05:13 And you bring new currency notes.
05:14 And you bring new design.
05:15 Your purpose should be
05:18 that because of that,
05:20 can there be an improvement
05:21 in the documentation?
05:22 Can we track the currency?
05:25 Who is using it?
05:26 Can we get this information?
05:28 If we get all these things,
05:29 then it will be a great thing.
05:31 But if we change the design,
05:33 I don't think it will have any impact
05:35 on the new field.
05:38 Yes, the design will change.
05:39 It is being said that the serial number
05:41 will also change.
05:42 It is a security feature.
05:43 Thank you so much, Puram and Azhar.
05:45 Let's see what development is
05:48 and how it is managed.
05:50 So, let's see.
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