KARACHI: Interim Information Minister Murtaza Solangi refuted the validity of an online ‘notification’ that wrongly asserted the government’s imposition of a ban on Rs5,000 currency notes, labelling it as “fake news”.

The minister’s statement followed the circulation of a notification on social media, purportedly issued by the Finance Division, which made the claim, Dawn.com reported.

The ‘notification’ indicated that the government had declared a “significant policy change aimed at strengthening the financial system and curbing illicit financial activities”.

“With effect from September 30, 2023, the use, possession and circulation of Rs5,000 currency notes will be banned throughout the country,” it claimed, adding the notes would not be accepted as valid currency after that date.

“Citizens and financial institutions are encouraged to exchange or deposit their Rs5,000 notes at authorised banks and financial institutions until the specified deadline. After September 30, 2023, the notes will no longer be accepted at designated government offices and central banks,” it stated.

Published in Dawn, September 8th, 2023