ISLAMABAD – The caretaker federal government has rejected the rumours about discontinuation of Rs5,000 bank notes in Pakistan.
The reaction comes after a purported notification of the Finance Division surfaced on social media, claiming that use and circulation of the Rs5,000 currency note will be banned across the country.
“In pursuance of sub-section (2) of Section 323 of Pakistan Penal Code (Act XLV of 1860), the Federal Government is pleased to announce a significant policy change aimed at strengthening the financial system and curbing illicit financial activities. With effect from September 30, 2023, the use, possession, and circulation of Rs 5000 currency notes will be banned throughout the country,” reads the notification.
It went vial on social media in no time, leaving the citizens baffled as they were searching for official worlds in this regard.
The Federal Ministry of Finance categorically stated there was no planning to ban Rs5,000 currency notes, saying the notification circulating on social media as fake.
Also, caretaker information minister Murtaza Solangi rejected the notification as fake.
It all started after the PTI senators tabled a resolution in the Senate to see a bank on the use of Rs5,000 notes as they were of the view that it would control corruption in the country.
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