Old denomination of Rs 500 note: SBP urged to extend last date of acceptance

The representatives of business community have demanded of the State Bank of Pakistan (SBP) to extend the last date of acceptance for the old denomination of Rs 500 for at least three years.
In a statement, the Patron In-Chief Korangi Association of Trade and Industry (KATI), S M Muneer, Chairman Ehteshamu-ddin and Vice-Chairmen, Hasham A. Razzak and Tariq Malik and former Chairman, Mian Zahid Hussain have demanded of the SBP's Acting Governor, Yasin Anwar to withdraw SBP notification of cancellation of old 500 Rupee note under which the old denomination stands cancelled no one can change with new note.
They have taken the plea that a large number of poor people are still holding it as they were not aware of the SBP's deadline. "They are facing a great hardship due to its non-acceptance as large numbers of people are not aware about its cancellation". Ehteshamuddin said. They said that there is no justification in cancelling the old denomination in a hurry. He further demanded that old 500 rupee note should be accepted as legal tender for at least three years.-PR