SBP Rejects Reports That It Lost the Record for Rs. 500 Currency Notes

The State Bank of Pakistan (SBP) has refuted media reports that it has lost the record of old design Rs. 500 currency notes which were demonetized in 2012.

In an official statement, the SBP said:

The SBP categorically denies and rejects the media reports regarding the unavailability of the record of old design Rs.500 banknotes demonetized in Oct 2012.

The regulator said that the destruction of banknotes is a continuous activity which is carried out at field offices of SBPBSC across the country. “The record for the same is available in respective field offices,” it added.

The central bank claimed that the confusion started when an audit team recently visited the field offices of SBPBSC and assumed that the record present there was all the record available with the bank, which is factually incorrect.

It explained that the SBP has over 16 field offices of SBPBSC across the country, and each office has the relevant record of destructed banknotes.

  • An Audit team, of State Bank itself, would definitely know that all the record of incinerated currency notes is not kept at one place. Has SBP fired its audit team for incompetence? NO. They have hushed up the matter instead. Classic example of how our govt and relevant bodies always tell blatant lies.
    Exactly why is the record segregated anyway? Should they have not consolidated their data at a central place for it being a central bank?
    None of it matters, but that, the same bank is going to fix our economy. :)

  • Another scam during PPP’s tenure: Rs500 currency notes record of Rs4300.75 billion vanishes. Still Zardari worshippers will claim he is innocent like Diesel, Altaf, Nawaz etc., etc.

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