SINCE the opening of banking hours of May 20, I applied three times at the State Bank of Pakistan (SBP) for new currency notes at different e-branch codes related to my area of North Karachi, via their given SMS number 8877. I applied every five to six hours’ interval, and netted merely one reply of regret that this particular branch had reached its booking limit.

I would like to ask, why has this game of musical chairs been started when the designated bank branches were not provided the limit of their currency notes according to the customer strength of the area? According to the rules laid down by the Security and Exchange Commission of Pakistan (SECP), the SBP knows the details of every customer but has no knowledge about how much the new notes’ limit has been set for branches according to the area’s population strength.

I’d like to request the new SBP governor to look into this matter, as in this season (with Eid coming up), some SBP employees are involved in a big way in putting new currency notes on the black market, to money changers near the SBP building near Merewether Tower. He should visit the premises of the building and see for himself the large numbers of people gathering in the morning and gauge (from their dress and demeanor) why they need thousands of new currency notes.

Masrur Ahmed Jamali
Karachi

Published in Dawn, May 23rd, 2019