ISLAMABAD: On Thursday, the State Bank of Pakistan (SBP) issued a clarification, stating that both the green and blue Rs75 banknotes hold legal tender status. This clarification came in response to reports of these special commemorative bills not being accepted by sellers and buyers throughout the country.
The State Bank of Pakistan (SBP) clarified that under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes, including commemorative notes issued by SBP, hold legal tender status throughout Pakistan for the specified amount and carry the guarantee of the Federal Government.
The SBP further stated that the Rs75 banknote, primarily green in color, issued on August 14, 2022, to commemorate 75 years of Pakistan’s Independence, and the Rs75 banknote, mainly blue, issued on July 04, 2023, to mark 75 years of SBP’s establishment, are recognized as legal tender across Pakistan. These banknotes are fully capable of serving as a medium of exchange for settling both private and public obligations.
Furthermore, the SBP and all commercial banks are obligated to issue and accept these banknotes from the public.
Despite this, citizens have reported instances where shopkeepers, taxi drivers, and others refused to accept these notes. However, in some cases, they accept them after being informed of the State Bank’s notification.
Tazeen Naim shared her experience, saying, “I used it only once when I had to pay a taxi driver. He initially hesitated to accept it, but when I assured him that the State Bank has declared the note as a legally accepted form of currency, he took it.”
