Demonetize Rs.5000 notes: Prof. Wijesuriya

16 October 2018 09:12 pm - 37 - {{hitsCtrl.values.hits}}

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The convener of the Movement for a Just Society, Prof Sarath Wijesuriya said he would urge the government to remove the Rs.5,000 notes from circulation as a remedy to the present Economic Crisis faced by Sri Lanka.

He said this at a Media Briefing held at the head office of the Movement for a Just Society in Rajagiriya and instead of cutting down on imports,it was better to stop functions being held to boost the image of politicians by spending colossal sums of money.

Prof. Wijesuriya said the late Dr N.M. Perera as the then Minister of Finance introduced the demonetization of the Rs.100 and Rs.50 notes in the face of a severe Economic Crisis, which compelled those who had hidden black money in gunny bags and trunks to be brought out. He said we could do the same and by withdrawing the Rs.5000 notes from circulationto ease the crisis.

There is information that earnings from various forms of informal activities are been stacked and kept in gunnies in several places. Even in some Temples and with Politicians there is evidence that Rs 5000 notes are safely stacked in bundles and there is proof that these hidden notes could fill in a Container, he said further. (Muditha Dayananda)

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Comments - 37

MARA Tuesday, 16 October 2018 08:54 PM

Go to police or FCID with those proof...SIMPLE... via DM Android App

Ceylon Tuesday, 16 October 2018 09:39 PM

in srilanka ?????.proof has for lasantha,eknaligoda,thajudeen,children killings.allready casess went to.police,cid,fcid,courts.what's happening ????.what you are telling ???.

observer Wednesday, 17 October 2018 03:29 AM

How are you going to get proof of all the crooks??

Ruwan Wednesday, 17 October 2018 07:00 AM

Black money is hiiden. This is away to bring it to circulation. India did it . It yielded some result

Abey Wednesday, 17 October 2018 05:16 PM

They elected a Prez

Ryan Tuesday, 16 October 2018 09:26 PM

Prof Wije is one of the rice eating buffalow who asked people to vote for this government

mega Tuesday, 16 October 2018 09:42 PM

Dumb and stupid. What does he knows about economics.

fareed Wednesday, 17 October 2018 11:16 AM

If people want to avoid taxes or hide their wealth they will find many ways to do so and it is asinine to hide money that is getting devalued on a daily basis.In fact, people should be educated or encourage to invest their money in some store of value like gold or any other things or people will be poor when currency devalue continues.

Ceylon Tuesday, 16 October 2018 09:46 PM

dr n m was educated fool.also mody did the same for big value notes in india.both actions lost billions.people punished for tjus economic banrupsy by defeating n m by unseating his parliment seat.mody saved by indian fast economic progress.

Mario Tuesday, 16 October 2018 09:52 PM

You do realise that demonetosation caused a huge economic crisis in Indiia and their currency depreciation is worse.....

shan Tuesday, 16 October 2018 09:54 PM

If 5000 notes are cashed in 1000 notes and kept hidden then what is the result?

Max Tuesday, 16 October 2018 10:00 PM

You are very much part of this failed govt so what people need is actions not public statements from you all.

GIA LANKA Tuesday, 16 October 2018 10:12 PM

THIS MAD *#@& P*&#$# SHOULD IMMEDIATELY ARRESTED

Nandimitra Tuesday, 16 October 2018 11:10 PM

A good move to flush-out hidden cash of rogue politicians and black marketeers.

shiran Tuesday, 16 October 2018 11:41 PM

I do endorse the Professor's suggestion as a solution to attack black money. India did this somewhere in 2016. they cancelled 1,000 and 500 notes suddenly next day in the morning. it was said that only PM, FM and Central Bank governor new that next day these notes will be canceled. There was lot of difficulties in the country for about one month where I also experienced without change money as a business visitor in second week of the cancelation. but my business collogue told me irrespective of the difficulties 95% of people in India endorsed the action to cancel these notes. they he told me with a bid laughter that Can I imagine who the balance 5% was. government gave a time period to exchange those canceled notes but they had to show where they got money.

Ram Wednesday, 17 October 2018 01:36 AM

If Police take action it will be a long drawn investigation. Withdrawing from circulation will fix the issue at least by 50%. In 2016 or 17 India too did the same and the hoarders lost lot of black money

Ceylon Wednesday, 17 October 2018 01:04 PM

indian action india confisticated 80 biliion.lost 270 billion.

Manel Wednesday, 17 October 2018 03:31 AM

These are ideas worth being considered. Austerity should begin at the political level to set an example to the others in the country.

observer Wednesday, 17 October 2018 03:33 AM

Good idea.All the hidden black money will come out if the Rs.5000.00 note is discontinued within a week or so.

Shyamon Jayasinghe Wednesday, 17 October 2018 03:37 AM

The Professor is increasingly showing he has reached his limit of competence and arrived in the incompetence zone. He should leave the business of economics to the experts in the Central Bank and government. The other day, he went on an unsubstantiated attack on the Prime Minister.

k.soysa Wednesday, 17 October 2018 04:01 AM

The best action ever! Demonetize even the Rs. 2000/ and 1000/. Also stop ALL free permits to ALL, irrespective of status. Ristrict also the import of luxury goods, stop over-time. Eventually, some radical steps will have to be taken. Sooner is better than later.

Uchikun Wednesday, 17 October 2018 05:15 AM

I think the Prof is a bit out of date on this issue. During the time of NM, there was no internet, credit cards (in Sri Lanka ) and Internet banking, As such it will be a waste of time demonizing the 5000 rupee notes.

lion Wednesday, 17 October 2018 05:22 AM

very correct proposal under present circumstances.

SL Wednesday, 17 October 2018 06:33 AM

Pls go to FCID prof..............I believe that first of all we'll have to check his back yard.how can this man,being an NGO guy ,can afford to a Land Cruizer! and loads of luxuries.

Tom jones Wednesday, 17 October 2018 07:02 AM

Name these rascals who are hoarding 5000 rupee notes. Good idea.

Karu Wednesday, 17 October 2018 07:04 AM

No need for it. Government will get enough revenue if it tracks the Local steel manufacturing mafia.

Siyarata Wednesday, 17 October 2018 07:25 AM

This man has gone bonkers. Always coming up with an idea to harass the majority. Sri Lanka has a skyrocketing inflation if 5000 notes are ceased to be legally tendered who will provide us with a wheel barrow to bring money home. Don't talk what you do not know.

DJ Wednesday, 17 October 2018 07:35 AM

Forgot any removal of 5 thousand rupee notes, if our present bunch of parliamentarians continue a 10 thousand rupee note will have to be printed

Dee Wednesday, 17 October 2018 07:50 AM

So then we will have to take a gunny bags load of cash to make a simple purchase!

sunil Wednesday, 17 October 2018 08:29 AM

demonetization has never worked anywhere in the world. Recent example is India

Nalin Wednesday, 17 October 2018 08:48 AM

If the estimates forwarded by each ministry is carefully checked a large percentage can be reduced and there will be no budget deficit.

Ghost Wednesday, 17 October 2018 08:56 AM

And bring back the good old 1, 2 and 5 cents coins instead.Don't these professors have anything better to than put their 2 cents(not even in circulation!) worth. The barber and the taxi driver talks more sense in this types affairs!

Db007 Wednesday, 17 October 2018 09:51 AM

Please send this man to india

Common Sense Wednesday, 17 October 2018 10:27 AM

An educated idiot!

til Wednesday, 17 October 2018 10:32 AM

This is bloody another "Pandithaya" who gave dead rope to public by directing to believe 'yahapalanaya'

fareed Wednesday, 17 October 2018 11:11 AM

Well, once we demonetize 5000 then we have to import or locally produce wheelbarrows to transport or carry our worthless currency for big transaction purposes. I think that we need to print 10.000 notes to ease business transactions. We should look at Singapore as model if we are to become a business hub in the region. Singapore has (100000) hundred thousand dollar in circulation as well. These are warped ideas of so called professors.

Inflations Wednesday, 17 October 2018 12:02 PM

At this escalating INFLATION, we will have to carry bulk of currency notes for purchasing items. So print 10,000 denominated Currency Notes.

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Demonetize Rs.5000 notes: Prof. Wijesuriya

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