Tk5 to go under govt notes and coins

A Bill titled ‘Bangladesh Coinage (Amendment) Act, 2015’ was placed in the Jatiya Sangsad (parliament) on Tuesday aiming to bring the Tk5 coin under government notes and coins. Finance Minister AMA Muhith placed the Bill in the Parliament and it was sent to the respective Parliamentary Standing Committee for further scrutiny. The Committee was asked to submit its report within one month. In the objective of the Bill it was stated that after 19 long years, The Bangladesh Coinage Order was amended in 1989 to bring the Tk 2 coin under the jurisdiction of the government coin. "Some 26 years have passed in the meantime, now a decision has been taken to bring the Tk 5 notes under the jurisdiction of the government as its purchasing capacity has been reduced a lot compared to previous times," it said. It also said that the inflation of the country will not be hampered due to this as the total amount of money in circulation will remain the same. The objective of the bill mentioned that in 1974-75 the percentage of the government notes was 10.70 which came down to 0.90 in 2013-2014. The percentage of the government notes and coins will be increased to 1.50 per cent after turning the Tk5 notes and coins into government ones, according to a news agency.
- biplab