The 5,000 rupee currency note will not be in use starting on September 30, 2023, due to a message that has circulated around on social networks.
The Ministry of Information and Broadcasting (MoIB) Fact Analyzer account, still has labeled the article as fake with no merit, saying that it is not only illegal but also serves the country a bad turn.
Also, both the State Bank of Pakistan (SBP) and the Ministry of Finance have issued any official statements about this matter. As an outcome, it indicates that Pakistan will continue to utilize the Rs. 5,000 note as cash.
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The Rs. 5,000 rupee note was issued in Pakistan on May 27, 2006, thus it is essential to keep in mind that.
Ammar Khan, an internationally recognized energy economist, suggested eliminating Pakistan’s highest value banknote, the five thousand rupee note, previously during the year.
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He stated that after India stopped the usage of the Rs. 500 and Rs. 1,000 notes, an identical the demonetization process method to improved tax collection.
India removed its national currency in November 2016 by banning the Rs. 500 and 1000 currencies from usage.
While more online payments took place both before and after the period of demonetization phase, and the policy’s mission to completely eliminate black money, multiple reports suggested it was unsuccessful.