Is Pakistan discontinuing Rs5000 currency note from Sept 30? A bogus Finance Division notification is spreading on social media, stating that the government has decided to phase out the Rs5,000 currency note in Pakistan by September 30, 2023.
The notification is being extensively disseminated without verification by social media users, causing concern among the masses who are unable to check it.
The fake notification states, “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”.
“Here are key points to note regarding this policy change:
Effective Date: The ban on Rs 5000 notes will go into force on September 30, 2023. These notes will no longer be lawful tender after this date.
Exchange and Deposit: Citizens and financial institutions are invited to swap or deposit their Rs S000 notes until the designated date. The notes will only be accepted at certain government offices and central banks after September 30, 2023.
Public Awareness: The government will launch an awareness campaign to educate citizens about the upcoming change and provide guidance on the proper procedures for exchanging or depositing Rs5000 notes,” it adds.
It is allegedly signed by Muhammad Shahid Ahmed Ch, Deputy Secretary R-III.
According to an economic specialist, there was no Deputy Secretary R-III in the Internal Finance Wing.
The font size and style are also different from the official government notification.
Furthermore, no official statement has been issued by the Ministry of Finance or the State Bank of Pakistan (SBP) on the subject.
This means that the Rs5,000 currency note, which was introduced in Pakistan on May 27, 2006, would continue to circulate in the country.
Meanwhile, interim Information Minister Murtaza Solangi confirmed that it was fake.
Is Pakistan discontinuing Rs5000 currency note from Sept 30? Check the Tweet:
This is fake. The Govt of Pakistan shall act against the people spreading this kind of fake news to create chaos.
یہ جھوٹا نوٹیفکیشن ہے۔
حکومتِ پاکستان ایسے جھوٹے نوٹیفیکیشن پھیلانے والوں کیخلاف سخت کارروائی کرے گی۔
👇 pic.twitter.com/9yU3DlM5UK— Murtaza Solangi (@murtazasolangi) September 7, 2023
He additionally urged the government to take action against those who distribute fake news in order to cause chaos.
