Recent rumours about the possible discontinuation of Pakistan’s Rs. 5000 banknote have caused some public confusion.
However, the State Bank of Pakistan (SBP) has officially clarified that there is no active proposal to remove the high‑value note from circulation.
This clarification was given during a briefing to the Senate Standing Committee on Finance by SBP Governor Jameel Ahmad.
The governor explained that any decision to alter or phase out existing currency denominations would be complex and could disrupt normal market activity if done without careful planning.
For this reason, SBP has not taken up any plan to discontinue the Rs. 5000 note, which remains widely used in everyday cash transactions.
He added that the central bank’s board has already finalised designs for new currency notes with improved security features, but these changes are meant to enhance the security and durability of Pakistan’s currency, not remove any denomination.
Officials also noted that even talking about ending the Rs. 5000 note can create uncertainty in the economy, especially among businesses and consumers who rely on it for larger value cash transactions.
The Federal Board of Revenue (FBR) also warned that discussing a potential ban without facts could harm economic confidence.
The new designs will now be reviewed by the federal cabinet before any rollout. Enhanced security elements are expected to help curb counterfeiting and modernize Pakistan’s banknotes once approved.
While currency designs are being updated, the Rs. 5000 note is not being discontinued and will continue to remain legal tender.
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