Why did NRB suddenly decide to adopt polymer note in 2002?
It was the time when countries across the world were rapidly switching to notes printed on the special plastic made of guardian polymer substrate. Malaysia, Brunei and Vietnam had adopted it completely, while neighboring countries like India, Bangladesh and Singapore had at least one denomination on polymer. So, we also decided to give a trial by printing Rs 10 polymer note.
We learnt Australian Embassy influenced NRB in taking such a decision?
I would not say it influenced us. But what is true is senior embassy officials informed us about the technology that was widely being adopted and suggested to us to try it with at least one denomination. As Australia is the sole country to produce guardian polymer substrate used for polymer note, its initiative to introduce the product to us is pretty normal.
There are allegations that NRB flouted its rules to award the contract to Note Printing Australia (NPA).
Those are false. The decision to change material and designs, etc was endorsed by the cabinet. The selection of printer was done through global bidding.
NRB claimed polymer note was better than paper note and even incurred almost three-fold more price to print it. But the quality of polymer note drew criticism from the very onset. What let to such discrepancy?
It is true that the initial notes we circulated in the market showed some problems. But notes received under second contracts were better. As for the additional cost, I think the rate was justified because life of polymer note is well over 4 years, whereas paper notes´ life is eight months at most in our country.
If later prints were better why did NRB decided to stop printing polymer notes?
We decided to stop it mainly because polymer notes showed some typical problems. First it was fading more rapidly than what we were told. Secondly, people complained polymer note did not go well when kept together with paper money. Thirdly, we found even a minor cut in polymer note could tear it completely. Our Consumer Acceptance Survey too showed consumer acceptance level was just 27 percent, which is too low to ensure its usage. So we decided to stop printing it further .
Now probe in Australia has pinpointed NRB officials were bribed by NPA to get the printing contract. What do you say about it?
I am not aware of such anomaly. If Australian authority says Nepali officials were bribed, it should also disclose the names of the people who were bribed. It will help us punish wrongdoers and make life easy for innocent people.
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