Is Rs 5000 currency note going to be banned in Pakistan?

BlogsIs Rs 5000 currency note going to be banned in Pakistan?

ISLAMABAD, Pakistan: The federal government has termed the notification circulating on social media regarding the ban on Rs 5,000 currency note in Pakistan fake.Is Rs 5000 currency note going to be banned in Pakistan?

Responding to the notification dated September 07, 2023 on the microblogging platform X, formerly known as Twitter, on Thursday, the Caretaker Federal Minister for Information and Broadcasting Murtaza Solangi said that notification regarding the ban on Rs 5,000 currency notes was fake.

The information minister said that the government would take strict action against those spreading such fake notifications.

This is fake. The Govt of Pakistan shall act against the people spreading this kind of fake news to create chaos,” he wrote.

Earlier, the notification had stated that the ban on Rs 5,000 currency notes will take effect on September 30, 2023 and afterwards, these notes will no longer be legal tender.

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,” the notification read.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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