Nepal Rastra Bank (NRB) has introduced the technology of burning briquettes on counterfeit, dirty, old and torn notes.
The technology, which was first introduced in the Netherlands, is being used to make briquettes that can be used as fuel from the ashes that come out of incinerators. In the past, banknotes were destroyed by burning.
According to the agreement reached with a company of that country in 2020, eight machines will be brought in. In the first phase, briquettes will be produced from the four newly arrived machines in Kathmandu, Biratnagar, Birgunj and Nepalgunj.
According to him, the machine has already started producing briquettes in Kathmandu, Nepalgunj on Tuesday and will soon start production from two other places.
According to him, production of the remaining four machines will start from Janakpur, Pokhara, Bhairahawa and Dhangadhi by next September. About 400 kg of ashes came out from the 400 bundle notes burnt for the first time. He says that the result of ash varies according to the size of the note.
The bank has said that it has purchased the equipment as it would be cumbersome to burn the counterfeit notes and the dust would pollute the environment.
According to Chief Nepal, the first part of the tool breaks the notes and the second part makes the briquettes. He informed that the briquettes produced in this way can be brought from brick kiln or coal used industries and factories for domestic use. The bank destroys notes worth around Rs 40-45 billion every year.