Finance ministry rejects rumours about demonetisation of Rs. 5,000 currency notes

Monday 26 December 2016 3 weeks ago 48   Islamabad   Print

Rs. 5,000 currency notes, file photo.

Report  Web desk : Finance ministry Monday categorically denied the news reports and rumors circulating in a section of press and some business circles regarding demonetization of Rs 5000 note. According to finance minitry’s spokesman, the government had not taken any decision regarding discontinuation of Rs 5,000 note, so there was no need to give any justification into the matter. He said the current denomination of highest value notes in Pakistan i.e. Rs 5000 was significantly smaller as compared to those of major currencies such as $100 note, Euro 200 and Pound Sterling 50. During 2015-16, only 17% of the notes printed were of Rs 5000 denomination.