ISLAMABAD – The issue of discontinuing the Rs5,000 currency note has been debated multiple times, including discussions within government circles.
In the past, officials and politicians have frequently called for the note’s withdrawal, citing reasons such as curbing corruption. However, a few months ago, the State Bank clarified that no such proposal was under consideration.
In today’s Senate Standing Committee meeting, committee member Mohsin Aziz suggested banning the Rs5,000 currency note, arguing that such measures are essential to prevent tax evasion. He emphasized implementing practical steps that deliver results, making dishonesty difficult in transactions involving multiple agents.
It is worth noting that during an August committee meeting, the State Bank Governor reiterated that there was no current proposal to discontinue the Rs5,000 currency note, despite similar suggestions in the past, which were not accepted.
https://en.dailypakistan.com.pk/06-Sep-2024/sbp-unveils-shortlisted-designs-for-new-currency-notes
