IslamabadThe Governor of the State Bank in Pakistan (SBP), Jameel Ahmad, announced on Monday that the central bank is planning to issue new business notes that start in the second half of 2025. Time, with improved safety features.
Ahmed explained that SBP aims to obtain approval from the Federal Cabinet for new notes during the next two or three months, ideally before June 2025. The pass will occur gradually, with each sect entered separately instead of each time.
However, Ahmed did not specify the sect that will be issued first, saying that the decision was not taken yet. Currently, Pakistani currency notes include RS10, RS20, RS50, RS100, RS500, 1000 rupees and 5,000 rupees.
He stressed that the new observations will not enter the blood circulation before the start of the fiscal year 2025-2026, which begins in July 2025.
This announcement of SBP contrasts with a recent statement from the Security Papers Limited (Spl), the company responsible for producing a security paper for two Berkeen. SPL recently unveiled plans to upgrade its manufacturing factory, which is expected to take 18 months. This upgrade is necessary to integrate international security standards for the new currency series.
In September 2024, SBP chose the winners of the new banknote design competition, a process that started earlier in 2024 with the aim of presenting the redesigned currency in all sects.
Meanwhile, Ahmed also shared updates on the upcoming initiatives. SBP is preparing to launch the “InvestPak” platform, a digital service that allows individual and companies to invest directly in government debt bonds, such as T-Bills and Bakistan Investment Bonds (PIBS). The platform is currently in the test stage, with an official launch expectation soon.
In addition, Ahmed revealed that SBP is advancing in plans to enter a central bank of the Central Bank (CBDC). The Central Bank is awaiting approval of a legal framework from the government before it can move forward in the project.
