KARACHI (WSN) – The government has decided to redesign all currency notes, ranging from Rs10 to Rs5,000.
State Bank of Pakistan (SBP) Governor Jameel Ahmad informed the Senate Standing Committee on Finance that all currency notes will feature new designs by the end of December.
In addition to the redesign, plastic currency will also be introduced. Approval from the federal cabinet for this change is expected soon.
Committee member Mohsin Aziz highlighted that the new measures could help curb currency note smuggling.
The SBP Governor assured that plastic currency would be durable and effective, addressing any concerns about its functionality.
He also clarified that there are no plans to withdraw the Rs5,000 note from circulation.
