The printing of banknotes in obsolete machines has put the country and its people at risk of being counterfeit victims. Other important and security materials are also being printed amid risk.

A banknote [known as a bill, paper money or simply a note] is a type of negotiable instrument recognized as a promissory note, made by a bank, payable to the bearer on demand.

According to sources, the Security Printing Corporation Bangladesh Ltd [SPCBL], an organization entrusted with printing banknotes, non-judicial stamps and other important documents, cannot print required number of banknotes and match colour due to manpower shortages and dilapidated condition of the machines.

People within the government and the Board of Directors of SPCBL apprehended a great disaster if the organization fails to publish required number of quality banknotes and other sensitive documents.

This apprehension was expressed at the 178th board meeting of SPCBL presided over by its chairman and Bangladesh Bank Governor Dr Atiur Rahman on September 6, 2012.

Most of the machines used for the printing of banknotes and other important documents were purchased at the outset of SPCBL. Now new machine was set up before 2009-10 financial year.

Intaglio printing technology called Super Orlof Intaglio (SOI) press is used to print banknotes. As worm gear [a part] of SOI decays day by day, the whole machine becomes out of work. Parts of the 27- year-old press are not available in the local and international markets.

Finding no alternative, the authorities concerned made duplicate parts from Bangladesh Industrial Assistance Centre (BITAC) to run the press somehow.

A report submitted in the board meeting said required number of banknotes cannot be printed as long time is being wasted in matching colour. On the contrary, colour of notes cannot be matched properly when more number of notes is printed.

It is known that a number of one hundred thirteen crore eighty four lakh pieces of banknotes and one thousand two hundred seventeen crore and fifty seven lakh other security products (OSP) have been printed from this press in the current year.

Cheque books of various nationalized and private banks including Bangladesh Bank are printed from the SPCBL. A cheque book finishing machine was purchased from France for cutting, stitching and binding.

The corporation is not being able to meet the demand despite using the machine for two shifts round the year. Apart from this, the machine’s operational efficiency and the standard of the produced products has declined. The multi-cut unit of the machine remained inactive for the last two years.

According to the information placed in the board meeting, the demand of cheque books was 11,260,200 in the fiscal year 2011-12. Using the machine in two shifts, it is possible to produce around 24,000 cheque books everyday by the existing machine.

Counting 22 days as working day in a month, it is possible to produce some 63 lakh cheque books in a year (264 working days).

So another machine is essential for printing the cheque books. Also, an approval has come from the board meeting to purchase one more machine.

Former governor of Bangladesh Bank Dr. Saleh Uddin Ahmed said the printing activities of stamps, band rolls and many other important printing are being accomplished at the Security Printing Corporation besides printing notes.

So, machines with modern technology are needed for use in the corporation and it is important to ensure the quality of the work as many important printings of the state are served from here.

News: Daily Sun/Bangladesh/15-Sep-12