Pakistan Peoples Party (PPP) Senator Osman Saifullah Khan on Thursday submitted a resolution in the Senate to withdraw Rs1,000 and Rs5,000 rupee notes from circulation.
Addressing the upper house, the Senator, addressing a standing committee on finance said that high denomination notes raise the possibility of money laundering and corruption in the country.
Referring to India as an example, he added that the world over such notes were being discouraged.
Senator Osman Saifullah Khan said that the issue of withdrawal of currency notes should be taken up with the Ministry of Finance and the Central Bank.
Indian Prime Minister Narendra Modi ordered the withdrawal of 500 and 1,000 Indian rupee notes from circulation on Tuesday in a dramatic blitz on tax evasion. After Modi's shock announcement, ATMs in India ran dry and stocks tumbled Wednesday.