ISLAMABAD: The Ministry of Information and Broadcasting (MoIB), on Thursday, refuted the reports regarding a ban on the use, possession, and circulation of Rs5,000 currency notes, after a fake circular with the letterhead of the Finance Division went viral on social media.

The notice which was circulating on social media was dated September 7, 2023.

It stated that the said currency note would be banned by the end of this month under a “significant policy change to strengthen the financial system” by the government.

The false notice also advised the citizens and financial institutes to exchange or deposit the Rs5,000 currency notes at authorised banks by the said deadline as they will no longer be legal tender after that. It further stated that the government will also launch an awareness campaign to educate citizens about the upcoming change and provide guidance on the proper procedures for exchanging or depositing Rs5,000 notes.

However, a fact-checking department operating under the MoIB disproved the notification and the alleged upcoming ban on the said currency notes, terming it “fake news”.—NUZHAT NAZAR