The State Bank of Pakistan (SBP) announced on Monday that it plans to start printing newly designed currency notes after the federal cabinet gives final approval. The bank will print two or three different note values at the same time.
SBP Governor Jameel Ahmad shared this update during a press conference held after the latest monetary policy announcement. He said the preparation work is almost complete, and printing will begin soon once the cabinet approves the designs.
He explained that the new notes will not appear in the market all at once. Instead, they will be released step by step after the central bank produces enough notes to replace the old ones.
According to the governor, the goal is to first build a minimum supply before slowly exchanging the current notes already in use. However, he did not say which currency values will be printed first. At present, Pakistan uses notes of Rs. 10, 20, 50, 75, 100, 500, 1,000, and 5,000.
Jameel Ahmad also confirmed that the updated designs have already been sent to the government and then shared with the federal cabinet for review.
Earlier this month, the Prime Minister’s Office revealed that the cabinet, led by Prime Minister Shehbaz Sharif, discussed the proposal to redesign the country’s currency. A special cabinet committee was formed to study the matter further. Officials were told that the new designs follow modern standards and were created with support from international experts.
0 Comments