SBP Governor Submits New Currency Note Designs to Finance Ministry, Rs 5,000 Note to Remain

Governor State Bank of Pakistan (SBP) Jameel Ahmed** has informed that the designs for new currency notes have been approved by the **SBP Board** and submitted to the **Finance Ministry**. The new notes will be issued after government approval, and there is **no proposal to discontinue the Rs 5,000 note**.

The update was shared during a meeting of the **Senate Standing Committee on Finance**, where the Governor briefed members on the progress regarding the new currency notes.

During the meeting, **Center Abdul Qadir** raised concerns about the super tax, questioning how people could pay it over three to four years. He criticized the **FBR** for excessive pressure on taxpayers and suggested that the collection of the tax should be spread over two to three years instead of demanding immediate payment.

**Senator Sherry Rehman** noted that while the constitutional court confirmed that super tax is under Parliament’s authority, it is placing a heavy burden on people. She remarked that repeatedly increasing revenue from the same group is not a sustainable revenue model.

**FBR Chairman** responded that, if needed, installments for super tax could be arranged in some cases. He added that the total expected collection from super tax is **Rs 217 billion**, and sending messages to taxpayers via telephone has helped increase the number of taxpayers by **one million**.

**Finance Minister** also remarked that he had received the FBR message, highlighting the government’s efforts to enhance tax compliance.