A recent notification circulating on social media, claiming that the government has decided to demonetize the 5000 rupee note from September 30, has been deemed “fake” by the Information Ministry.
The 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 currency notes will take effect on September 30, 2023. From this date onwards, these notes will no longer be legal tender.
Exchange and Deposit: Citizens and financial institutions are encouraged to exchange or deposit their Rs S000 notes at authorized banks and financial institutions until the specified deadline. After September 30, 2023, the notes will only be accepted at designated government offices and central banks.
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.”
The notification carries the supposed signature of Muhammad Shahid Ahmed Ch, Deputy Secretary (R-III), and is addressed “to be published in the Gazette of Pakistan, Extraordinary.”
Even more dubious is the fact that neither the font nor the style is consistent with that of official notifications issued by the Government of Pakistan.
Suffice it to say, the 5000 rupee note, which was first introduced in 2006 will remain in circulation, at least for the foreseeable future.