Discontinue the Rs. 5,000 Currency Note. Rumors about the possible discontinuation of Pakistan’s Rs. 5,000 currency note have been officially addressed by the State Bank of Pakistan. The central bank has clearly stated that there is no plan under consideration to withdraw this high-value note from circulation.
SBP Official Clarification
SBP Governor Jameel Ahmad gave this clarification while briefing the Senate Standing Committee on Finance. He explained that removing the Rs. 5,000 note would seriously disrupt the market because it is widely used in everyday transactions across the country.
FBR Warns Against Economic Uncertainty
Backing the SBP’s stance, Federal Board of Revenue Chairman Rashid Langrial warned that even discussing the withdrawal of the note could create fear and confusion in the economy. He highlighted that many businesses and individuals still depend on this denomination.
Government Approval Is Mandatory
The SBP governor clarified that any decision related to changing or replacing currency notes must receive formal approval from the federal government and the federal cabinet. The central bank cannot take such steps on its own.
New Currency Designs, Not Withdrawal
Officials confirmed that the SBP Board has approved new currency note designs. These notes will include better security features and improved colors to reduce counterfeiting and increase durability. Importantly, these updates do not mean that any existing currency note will be withdrawn.
Conclusion
In conclusion, the State Bank of Pakistan has firmly rejected rumors about discontinuing the Rs. 5,000 note. The note remains valid and in circulation. Any future changes will focus only on improved design and security, not withdrawal, and will require full government approval.
