The Governor of the State Bank of Pakistan has issued a clear explanation after rumours circulated about the possible discontinuation of the Rs5,000 currency note.

While briefing a parliamentary committee, State Bank Governor Jameel Ahmed said the central bank has sent a proposal to the federal cabinet regarding the issuance of new-design currency notes with modern security features.

He explained that the State Bank’s board has already finalized the designs for all new currency notes and forwarded them to the federal government for approval. The final decision on issuing the new notes now rests with the federal government.

The governor added that designs of currency notes of all denominations are being changed and advanced technology will be used in printing and issuance. He also said the idea of introducing plastic currency notes on an experimental basis is under consideration.

Clarifying the rumours, Jameel Ahmed said there is no proposal under consideration to discontinue the Rs5,000 currency note.

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At the same meeting, FBR Chairman Rashid Mahmood Langrial warned that any move involving the Rs5,000 note could create economic instability.

Committee Chairman Saleem Mandviwalla responded by saying that once the State Bank governor has clearly stated the Rs5,000 note is not being withdrawn, the matter should be considered closed.

The clarification aims to calm public concern and market uncertainty. Currency redesign is a routine process, not a sign of withdrawal. Clear messaging helps prevent panic and speculation.