THE fake notification was spreading on the social network that K50 and K100 were declared illegal. Regarding this rumour, Major-General Zaw Min Tun, leader of the Information Team of the State Administration Council clarified as follows: -
“We also found that letter. That is not official and it is a fake one. Such kind of rumours spread many times like certain banknotes are demonetized. That shows the action being done in time. The Constitution has already stated it and we also talked about it. Tatmadaw takes over the State’s responsibilities under the Constitution. Tatmadaw will always uphold the 2008 Constitution. Section 36 of the 2008 Constitution mentions it clearly in Subsections (d) and (e) of Section 36. Section 36 (e) states that the Union shall not demonetize the currency that is in circulation legally and (d) adds it shall not nationalize economic enterprises. We will follow the Constitution. We take over the State’s responsibilities under the Constitution. I initially want to announce that we will always follow the Constitution. Another fact is that … why such rumours occur here. There are disruptive attacks against the economic sector of Myanmar. Some intentionally raise the prices of dollars and gold. The government takes action against such doing.
“The Prime Minister set national visions for the welfare of the public and to fulfil the basic needs of the people. In carrying out the measures for the prosperity of the nation and food security, we arrange the commodities prices to be fair. In such doing, we also take action against some cases. Consequently, the prices of dollars, gold and basic foodstuffs fall. Some are not satisfied with our undertakings. Therefore, they intentionally attack in terms of economy and politics. So, what I want to say to the people is that K50 and K100 notes will not be demonetized. We perform under Section 36 of the Constitution. The people should not believe rumours. The government will report to the public first if we have something to do. We always abide by the Constitution.”
MNA/KTZH
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