diff --git a/CMakeLists.txt b/CMakeLists.txt
index b0b1dce1d8..e97bdbae08 100755
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -35,7 +35,7 @@ find_program (GIT NAMES git)
 
 ## Setup the package version based on git tags.
 set(PKG_VERSION_GIT_TAG_PREFIX "rsmi_pkg_ver")
-get_package_version_number("1.0.0" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
+get_package_version_number("5.0.0" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
 message("Package version: ${PKG_VERSION_STR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MAJOR "${VERSION_MAJOR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MINOR "${VERSION_MINOR}")
diff --git a/rocm_smi/CMakeLists.txt b/rocm_smi/CMakeLists.txt
index f9b7c4181a..30e2249332 100755
--- a/rocm_smi/CMakeLists.txt
+++ b/rocm_smi/CMakeLists.txt
@@ -39,7 +39,7 @@ message("Package version: ${PKG_VERSION_STR}")
 
 # Debian package specific variables
 # Set a default value for the package version
-get_version_from_tag("1.0.0.0" ${SO_VERSION_GIT_TAG_PREFIX} GIT)
+get_version_from_tag("5.0.0.0" ${SO_VERSION_GIT_TAG_PREFIX} GIT)
 
 # VERSION_* variables should be set by get_version_from_tag
 if ( ${ROCM_PATCH_VERSION} )