The State Bank of Pakistan (SBP) has clarified that there is no plan under consideration to discontinue the Rs 5,000 currency note, putting an end to widespread rumors and uncertainty.

SBP Governor Jameel Ahmad shared the clarification while briefing the Senate Standing Committee on Finance. He said withdrawing the Rs 5,000 note could create serious disruptions in the market due to its extensive use in daily transactions and large-value payments.

Chairman Federal Board of Revenue (FBR) Rashid Langrial also warned that even speculation about discontinuing the high-denomination note could trigger economic uncertainty. He stressed that the Rs 5,000 note plays an important role in Pakistan’s financial system and any sudden change could negatively affect business confidence.

The SBP governor further explained that any decision regarding currency replacement or withdrawal can only be made with formal approval from the federal government and the federal cabinet. He assured lawmakers that the central bank cannot take such steps independently.

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Meanwhile, the SBP Board has approved designs for new currency notes that will include advanced security features and updated color schemes. These changes are aimed at preventing counterfeiting, improving durability, and modernizing Pakistan’s currency.

Officials emphasized that the new designs are part of routine upgrades and are not linked to eliminating any existing denomination.

The clarification from SBP has helped calm public concerns and reassured businesses and citizens that the Rs 5,000 note will continue to remain in circulation.