President gives approval for placing Coinage Act-2015 in JS

President Abdul Hamid has given approval for placing the Bangladesh Coinage (Amendment) Act, 2015 in the parliament for its passage, officials said.
The government has taken the move mainly to take over notes and coins of taka-five denomination as a government currency, they said.
The Ministry of Finance (MoF) faxed a copy of the amended act to the President, staying at London in the United Kingdom (UK), for taking his consent.
The President has recently suggested that the MoF place the bill in the next parliament session.
"The bill is likely to be placed sometime in the next parliament session for its passage," a high official of the MoF told the FE Monday.
According to Article 82 of the Constitution, the bill titled "Bangladesh Coinage (Amendment) Act, 2015" has to be approved by the President for placing in the parliament due to involvement of government expenditure, a source concerned said.
The MoF has prepared a draft of Bangladesh Coinage (Amendment) Act, 2015 with a view to bringing further amendments to the Bangladesh Coinage Order 1972, he said.  
Presently, the purchasing power of notes and coins of 2.0 and 1.0 taka has been reduced significantly. At the same time, the notes and coins are getting phased out naturally from the market, he added.
Besides, the currencies in circulation issued by the government declined than the existing bank notes and coins issued by the Bangladesh Bank (BB).
Earlier in January last, Finance Minister AMA Muhith termed the lower-denomination notes 'useless', and said the government would mop out Tk 1.0 and Tk 2.0 notes from circulation. And Tk 5.0 would be the lowest denomination instead of existing Tk 2.0.
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