Rs 5000 Note Banned in Pakistan?

The Senate Standing Committee on Finance has proposed the introduction of plastic currency as a measure to combat counterfeit notes.

During the committee meeting, Chairman Salim Mandviwala expressed concern over the prevalence of fake Rs1000 notes, which are even being dispensed from ATMs.

Senator Mohsin Aziz, a committee member, suggested banning the Rs5000 note to curb illegal activities.

The Governor of the State Bank of Pakistan, Jameel Ahmed, assured the committee that they would enhance the security features of currency notes, and also mentioned a future plan to introduce polymer currency notes.