‘Fake News’: Information Ministry Says No Ban On Rs5000 Note

5000 pakistani currency notes

After a fake circular bearing the letterhead of the Finance Division went viral on social media, the Ministry of Information and Broadcasting (MoIB) refuted the allegations of a supposed restriction on the usage, possession, and circulation of Rs5000 note on Thursday.

The fake notification, dated September 7, 2023, said that due to a “significant policy change” by the government, the aforementioned currency note would be abolished by the end of this month.

The Federal Government is pleased to announce a significant policy reform intended to improve the financial system and reduce illicit financial activities in accordance with sub-section (2) of Section 323 of the Pakistan Penal Code (Act XLV of 1860). The use, possession, and circulation of Rs. 5000 currency notes would be prohibited nationwide beginning on September 30, 2023, according to the notice.
The false letter also warned that beyond the deadline, the Rs. 5000 currency notes would no longer continue to be legal money and should be exchanged or deposited at accredited banks before the deadline.

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The MoIB’s fact-checking division, called the notification and the supposed impending ban on the aforementioned currency notes “fake news” and refuted them.

To make it clear that there has been no such policy change or banning on the Rs5000 note, The Fact Checker MoIB shared the bogus notification on their official account on X, formerly known as Twitter.

It should be pointed out that the Pakistan Media Regulatory Authority (Pemra) Amendment Bill, 2023, makes it illegal to propagate false information, and that violation carries a Rs. 10 million fine.

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