According to Mr Jamil Ahmed, Governor of the State Bank of Pakistan (SBP), new Pakistani currency notes will be issued in mid -2025.
Improved security security features are a special sign of these latest currency notes. The current series is expected to be changed in this regard.
In the next two to three months, the SBP plans to take clearance from the federal cabinet for these new Pakistani currency notes.
The rollout will be progressive, and it will introduce the difference at a time to ensure smooth transition if it is authorized.
Ahmed said that the decision has yet to be taken on which the first significant difference will be printed.
Features of new Pakistani currency notes
Pakistan’s Current Currency Notes Are Issue in Denominations of RS. 10, RS. 20, RS. 50, RS. 100, RS. 500, RS. 1000, and RS. 5,000.
It is only in July 2025 that the new series will affect stores with the beginning of the fiscal year 2025-2026.
Moreover, Ahmed’s comments will upgrade his manufacturing plant after the recent announcement of Security Papers Limited (SPL).
The proposed 18 -month correction will help the SPL, which will include international security features in the production process of new banknotes.
In September 2024, the SBP had a bank note design competition in September 2024 to select the winning designs for the next series.
The purpose of this competition, which began in 2024, was to refresh the appearance of all sects.
In addition to providing currency updates, Ahmed briefed the following projects, which included currency development.
The SBP plans to implement the “Investing Pack”, it will be an online portal, not only for corporates but also for all investors.
It is through this device that it is expected to directly present the state debt tool investment platform. This includes devices like TB and PIBS. A pilot launch will be soon.
In addition, SBP Central Bank is nearing launching digital currency, also known as the CBDC.
However, before the start, it needs legal approval that should be initiated by the government.
Thus, these are the SBP’s efforts to modernize Pakistan’s financial system.
