DHAKA: Finance Minister AMA Muhith on Sunday categorically said the government is going to make the denomination of taka one and two obsolete soon.

The minister came up with the disclosure while talking to journalists at his secretariat office in the city after a meeting on Value Added Tax (VAT) law amendment attended by high officials of the ministry and businessmen.

Muhith told reporters that Tk 5 would be the lowest currency of the country after making the denomination of Tk 1 and 2 obsolete.

Moreover, new paper note of taka five would also be introduced at that time, he added.

The finance minister also said the whole process would need Tk 300 crore.

BDST: 1612 HRS, JAN 18, 2015