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Governor of the State Bank of Pakistan (SBP) Jameel Ahmad has categorically ruled out any proposal to discontinue the Rs5,000 currency note, putting an end to speculation surrounding the future of the high-denomination bill.
Briefing the Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, the SBP governor confirmed that the Rs5,000 note will remain in circulation. However, he revealed that the designs of all currency notes will be changed.
He informed the committee that the SBP Board has approved new designs for banknotes ranging from Rs10 to Rs5,000, featuring enhanced security features aimed at curbing counterfeiting and improving durability.
According to the governor, the approved designs have been forwarded to the federal cabinet, which has formed a sub-committee to review the proposals. Final approval will be granted once the review process is completed. The committee also decided to hold an in-camera briefing on the new currency designs.
The clarification comes amid recurring public debate over the possible withdrawal of high-denomination currency notes as part of anti-corruption and documentation efforts. SBP’s statement makes it clear that no such move is under consideration at this stage.
