INTERIM Information Murtaza Solangi on Thursday dismissed a ‘notification’ circulating online that falsely claimed the government had imposed a ban on Rs 5,000 currency notes, terming it “fake news”. The Minister’s statement came after the fake notification, which claimed to have been issued by the Finance Division, surfaced on social media. The ‘notification’ stated that the government had announced a “significant policy change aimed at strengthening the financial system and curbing illicit financial activities” adding that effective from September 30, 2023 the use, possession and circulation of Rs 5,000 currency note would be banned.
Social media has become a dominant platform for dissemination of information, knowledge and entertainment but regrettably this is widely being misused in Pakistan due to lack of required regulation and vigilance on the part of the authorities and institutions concerned. May be this is because of lack of their capacity to do so but the country is paying a heavy price for criminal negligence on this account. The circulation of fake notification regarding ban on Rs. 5,000 note is not an isolated incident as fake notification spreading false information about decisions, plans and policies of the government frequently surface on the social media, creating confusion and uncertainty among masses. All this is done by unscrupulous elements under a systematic campaign to undermine faith of the people in the system and create resentment against the state/government. In view of the scale of the problem, a crackdown against fake news is also warranted for the sake of the overall interest of the society. As for ban on the currency note of Rs 5,000, there have been suggestions in the past to withdraw it as was done by India in the case of big currency notes but the proposition has become redundant after wholesale devaluation of rupee. In fact, the speed with which the local currency is losing its worth, the government might have to contemplate the possibility of issuing Rs 10,000 note to facilitate citizens to carry out their routine business activities smoothly.
