LAHORE (Daily Point) — In response to raised concerns during a Senate committee meeting, the State Bank of Pakistan (SBP) has taken action by releasing a comprehensive guide on the distinctive features of the Rs 5000 note, aiming to tackle the issue of counterfeit currency circulation.

Committee member Kamil Ali Agha brought attention to the problem by presenting counterfeit notes during the meeting.

To address these concerns, the SBP has utilized digital platforms, sharing an informative video on YouTube that delineates the unique identifying features of the Rs 5000 note. Notable security measures include the use of optical variable ink on the Pakistani flag, raised marks for the visually impaired, a silver thread, watermark, and hidden figures. The video also emphasizes lime green threads discernible under ultraviolet light.

The urgency of this matter became evident during the Senate Standing Committee on Finance meeting, where Chairman Saleem Mandviwala presented a Rs 5,000 note and requested the deputy governor of SBP to verify its authenticity. Given the inability to confirm its legitimacy, Mandviwala urged the formulation of a policy to effectively address the circulation of counterfeit currency.

While discussions on the Rs 5000 note have previously taken place in the Senate, including a resolution suggesting its removal as a measure to combat inflation, the caretaker finance minister clarified that no such proposal was currently under consideration. The SBP’s proactive step in releasing a detailed guide and video explainer underscores its commitment to addressing the issue of counterfeit currency and ensuring the security of the national currency.