Parliament debates demonetisation: Rastra Bank had said 'not necessary'
Rastriya Swatantra Party MP Yagya Mani Neupane has raised the demand for demonetisation in Parliament. While CPN (UML) Chief Whip Yubaraj Dulal extended support, the Nepal Rastra Bank had earlier briefed that demonetisation was not necessary.
Kathmandu — The issue of demonetisation has entered Parliament. Rastriya Swatantra Party (RSP) MP Yagya Mani Neupane, speaking during a House of Representatives meeting, demanded immediate demonetisation to bring such notes into the banking system.
Citing India's demonetisation episode, he accused those in power for the past 35 years of illegally amassing wealth and hoarding black money. Neupane also claimed that black money was being used to conspire against the elected government.
CPN (UML) Chief Whip Yubaraj Dulal has supported Neupane's demand. Stating that all UML MPs are ready to sign such a proposal, he questioned what was stopping the government from doing so.
The issue of demonetisation had been raised earlier as well. After the Gen-Z movement, the government led by Sushila Karki had asked the Nepal Rastra Bank whether demonetisation was necessary. However, after the central bank briefed that black money was not held in cash as widely rumoured, the then government concluded that demonetisation was not required.