A notification circulating on social media has announced thediscontinuation of the Rs. 5,000 currency note effective from September 30,2023.
However, the Ministry of Information and Broadcasting’s (MoIB) FactChecker account has denounced this news as false and unfounded, emphasizingthat spreading such misinformation is not only unethical but alsodetrimental to the nation.
Furthermore, neither the Ministry of Finance nor the State Bank ofPakistan (SBP) has issued any official statements regarding this matter. Asa result, it can be inferred that the Rs. 5,000 currency note will remainin circulation in Pakistan.
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It’s worth noting that the Rs. 5,000 currency note was introduced inPakistan on May 27, 2006. Earlier this year, a prominent energy economist,Ammar Khan, proposed the demonetization of the Rs. 5,000 note, the highestdenomination in Pakistan. He cited the successful demonetization of Rs. 500and Rs. 1,000 currency notes in India as a potential model for improvingtax collection.
