Sunday, October 1, 2023
HomePakistan Top NewsIs Pakistan Set to Discontinue Rs5,000 Banknotes in Light of Government's New...

Is Pakistan Set to Discontinue Rs5,000 Banknotes in Light of Government’s New Policy

The Federal Ministry of Finance has responded to a notification circulating on social media regarding the discontinuation of the Rs5,000 banknote.

The clarification comes in response to a notification circulating online, which claimed, “In accordance with sub-section (2) of Section 323 of the Pakistan Penal Code (Act XLV of 1860), the Federal Government has announced a significant policy change aimed at strengthening the financial system and combating illicit financial activities. Starting from September 30, 2023, the use, possession, and circulation of Rs 5,000 currency notes will be prohibited nationwide.”

This misleading notification caused confusion among people, leading them to search for the truth on social media.

As this issue gained traction on social media, the Federal Ministry of Finance discredited the claim of banning Rs5,000 currency notes, asserting that the circulating notification was fake. The Finance Ministry emphasized that no such official notification was issued.

Caretaker Information Minister Murtaza Solangi also dismissed these reports, stating that the government would take action against those spreading false information.

This incident is not isolated, as there have been numerous instances of false rumors regarding the demonetization of various banknotes. The State Bank has had to issue clarifications multiple times to address such misinformation

Continue to the category


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments