Are Rs 5000 notes being discontinued? Here's what Asad Umar says

ISLAMABAD: Federal Minister for Finance, Revenue Asad Umar has denied the reports regarding discontinuation of Rs 5,000 currency notes, and termed the news being circulated on social media as baseless.

Talking to media outside the Parliament House, he said that no such proposal was under consideration.

He said that the government was determined to reduce poverty in the country and added that currently the most important matter was to improve foreign exchange reserves of the country.

He said that the government had already adopted austerity measures on the special directive of Prime Minister Imran Khan, which would help in strengthening the country’s economy.

Reports were going rounds on the social media, claiming that the government was about to discontinue Rs 5000 notes in days to come prompting panic among the public.

As the reports went viral, the government decided to clarify on the matter as lack of official word was throwing people into disarray.