LAHORE: Lahore Chamber of Commerce and Industry on Monday cautioned people in general and the business community in particular against proliferation of counterfeit currency notes and urged the government and the State Bank of Pakistan to launch a drive to combat the menace.
LCCI President Malik Tahir Javaid said here that the government should take punitive action against anti-state elements involved in counterfeit currency trade as these black sheep are not only playing havoc with the economy but also protecting vested interests of the enemies of Pakistan.
He called for a well designed campaign to educate people about the security features of currency notes, adding that the government had resources to curb the menace that was spreading its tentacles like anything and causing undue harm to the economy.
The LCCI president said that the State Bank of Pakistan should provide necessary equipment/ machines for detection of fake currency at least at their main branches for their own use as well as for the use of general public free of cost, asserting that the SBP should also create awareness about the legal provisions regarding penalty and punishment for counterfeiting to forewarn the counterfeiters as to the consequences of committing this crime.
LCCI Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khalil said that owning counterfeit currency was a crime and the individuals involved were attempting to defraud their fellow citizens and the country as a whole. They said that tough anti-counterfeit measures put in place by the government had gone a long way to provide additional security but the bottom line was that there were still those who produce counterfeit currency in spite of these measures.
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