The State Bank of Pakistan (SBP) has put to rest the rumours that have been circulating in some sections of the community regarding the demonetization of the Rs.75 commemorative banknotes.
On Friday, the SBP officially declared that the commemorative banknote is recognized as legal tender just like any other currency notes issued by the bank.
The SBP’s spokesperson, Abid Qamar, clarified through a video message posted on the central bank’s official Twitter handle that the Rs.75 commemorative banknote was released last year to celebrate the nation’s 75 years of independence.
The banknote was authorized to be issued under Section 25 of the SBP Act, which empowers the bank to issue all currency notes.
Qamar emphasized that the Rs.75 commemorative banknote has the same legal status as any other currency note and can be utilized as a medium of exchange for all transactions.
He further confirmed that the banknote has not been discontinued or withdrawn by the government, and all rumours regarding the banknote’s demonetization are baseless.
Moreover, Qamar stated that the commemorative banknote has no expiration date, and the public can use it for any transaction without any hesitation.
— SBP (@StateBank_Pak) April 28, 2023
It is important to note that rumours of demonetization began when shopkeepers across the country refused to accept Rs.75 notes during Eid ul Fitr, causing widespread panic amongst the public.
Rs.75 Note the First to Feature a Female
The State Bank of Pakistan (SBP) issued a commemorative banknote to mark the 75 years of independence of Pakistan on the auspicious occasion. The bank officially revealed the new banknote on 14th August 2022 as a gift to the citizens of the country.
The note is emerald green in colour and has the denomination 75 to mark the special year – moreover, according to the State Bank, the note will be available to the public towards the end of September 2022.
That’s not all, the new note features the portraits of those without whom our precious homeland would remain a dream. They include the Founder of Pakistan Quaid-e-Azam Mohammad Ali Jinnah, his sister who was also a stateswoman and revolution Motarma Fatima Jinnah, Allama Muhammad Iqbal, and lastly Sir Syed Ahmad Khan.
Quaid-e-Azam was supported unfailingly by Mohtarma Fatima Jinnah, whose presence on the banknote serves as a reminder and acknowledgement of the role of women in the freedom movement. Which makes us even happier that one of the most important women in history was recognized through this initiative.
Previously, the State Bank issued commemorative coins for Benazir Bhutto and Fatima Jinnah, however, the coin featuring Jinnah had flowers in place of a portrait.
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