The State Bank of Pakistan (SBP) has said the circulation of Rs5 banknote will come to an end at the start of January 2012 and has asked people to exchange it from its offices and commercial bank branches.
In addition to this, SBP has reminded people that the bigger size and old-design Rs500 banknote will cease to be legal tender from October 1 this year.
In an announcement on Friday, SBP said that for the benefit of people it had supplied posters regarding demonetisation and exchange of banknotes of Rs500 (old design) and Rs5 to SBP Banking Services Corporation and commercial banks for placement at prominent and visible places of their field offices and branches as well as public places.
The old-design Rs500 banknote was introduced on April 1, 1986 while Rs5 banknote was introduced on July 8, 2008.
Published in The Express Tribune, July 9th, 2011.
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This is a good step the Govt is taking. we should finish even the currency of Pakistan and start using Dollars. as per the current situation many schools in Pakistan have started taking dollars Our Politicians are all paid in dollars... Its better if we take these steps earlier so we could stop a lot of bloodshed. The less the cloths the more advance / Modern you are, The more dollars you have the more respect you have. all dancers and models who are characterless have a big reputation...our next generation is following them, even they are open now by chosing the grooms on television. WE Pakistan are really on the path of building a new meaning of Pakistan. You start killing people... you become a leader, and for Pakistan's case you become the President. Flood relief fund which people abroad sent their salaries / all saving, even some did overtimes to send money to our beloved who are effected by the flood. Some went on the streets to ask for help for Pakistan..... now to our knowledge only 10 million out of 270 million reached the effected..... DO YOU THINK IF ANOTHER DISASTER HAPPENS WILL ANY ONE PAY ??????
Just think about it.