Pakistan to replace all currency notes by December
23 August, 2024 10:54
State Bank of Pakistan Governor Jameel Ahmed has announced to issue new currency notes by December this year.
He made the announcement while addressing the Senate Standing Committee on Finance on Wednesday.
The SBP Governor further told that the new design of notes would be in place with full security features.
“The State Bank is actively seized with the initiative, and the designs of the new notes will be introduced after formal approval. Other issues were potential for digital and plastic currency,” he added.
The said that the top bank is actively working on introducing these new designs, which will be issued following formal approval.
Additionally, the committee reviewed the potential for digital and plastic currency.
He mentioned that while they are currently focused on traditional notes, they plan to test plastic currency as well.
The new idea of plastic notes, didn’t go well among all members of the committee, with some raising concerns regarding the environment.
Senator Shahzeb Durrani raised concerns about the environmental implications, questioning the move towards plastic at a time when efforts are being made to reduce its use.
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