Tag: government clarification

  • MoIB warns against spreading false news of Rs5,000 banknote ban

    MoIB warns against spreading false news of Rs5,000 banknote ban

    The official Ministry of Information and Broadcasting (MoIB) handle recently confirmed that the news circulating on various social media platforms regarding the ban of Rs5,000 banknotes is fake.

    In a recent post, MoIB stated, “Disseminating #FakeNews is not only unethical and illegal but it is also disservice to the nation. It is the responsibility of everyone to reject irresponsible behavior.”

    The fake letter circulating on social media falsely claims, “Effective Date: The ban on Rs5,000 currency notes will take effect on September 30, 2023. From this date onwards, these notes will no longer be legal tender.

    Exchange and Deposit: Citizens and financial institutions are encouraged to exchange or deposit their Rs 5000 notes at authorized banks and financial institutions until the specified deadline. After September 30, 2023, the notes will only be accepted at designated government offices and central banks.”

    This is not the first time such news has gone viral on social media regarding the discontinuation of Rs5,000 notes. Similar false reports have surfaced in the past, and reputable news channels have later clarified that no such action is being taken.

  • Pakistan’s nuclear program not linked to loan negotiations, says IMF representative

    Pakistan’s nuclear program not linked to loan negotiations, says IMF representative

    The International Monetary Fund (IMF) has refuted allegations that it imposed any conditions on the revival of a loan program that had been suspended for several months despite ongoing discussions between the two parties.

    Pakistan has been in discussions with the IMF since early February to negotiate the terms of the deal, which includes the adoption of policies aimed at addressing its fiscal deficit ahead of the annual budget in June. The funds are part of a $6.5 billion bailout package that the IMF approved in 2019, and which experts believe is critical for Pakistan to avoid defaulting on its external debt obligations.

    The delay in reaching a staff-level agreement with the IMF had prompted veteran politicians, Senator Raza Rabbani and former foreign minister Shah Mahmood Qureshi, to express concerns about whether the delay was due to the country’s strategic assets, including its nuclear and missile programs. They have called on the government to clarify this issue.

    In response, IMF resident representative in Islamabad, Esther Perez Ruiz, released a statement on Sunday denying any involvement in Pakistan’s nuclear program, stating that there was “absolutely no truth” to the rumors that program discussions with the authorities may have covered the issue.

    Ruiz further clarified that the discussions had focused exclusively on economic policies aimed at resolving Pakistan’s economic and balance of payments problems, in line with the Fund’s mandate for promoting macroeconomic and financial stability.