Government is having some new plan and new initiative to combat corruption!
New government with a new aim. The government is now looking for some initiative to combat the corruption and there are 2 plans that has been considered on this
Our Prime Minister Tun Dr Mahathir Mohamad has said in an interview with Channel NewsAsia that there are 2 ways initiative where it could be are replace the current currency notes with new ones or go cashless to combat corruption.
The main challenge of replacing the currency notes are it would requires a huge costs as the currency in circulation is very big.
“It’s not an easy thing because when you want to replace the currency, you must know how much currency is in circulation because we have to replace what is in circulation and that is a very big amount,” he said.
“If you were to replace, you need to print huge amounts of paper money and that is not a decision that one makes lightly.
This initiative was not something new but India has done this before to combat their corruption where back in November 2016 India’s Government has demonetised all 500 and 1,000 rupee banknotes or exchanged them for newly introduced 500 and 2,000 rupee bills.
The cashless is seems something that we can work on and this cashless system has being implemented successfully in China and it’s a great hit. We too can emulate this in our country!
Have to say that the government is really actively changing our nation. With all this new initiative, it will definitely leads the country to a better future.