Preparation for a major change in currency notes in Pakistan
ISLAMABAD: A major change is coming in the currency system of Pakistan. State Bank Governor Jameel Ahmed has told the Senate Standing Committee on Finance that all currency notes in the country will be introduced with the new design by December. Apart from this, a plastic note will also be introduced.
The new currency notes will include advanced security features to prevent counterfeiting. Also, plastic notes will be more durable and have a longer lifespan than paper notes. Polymers will be used to manufacture plastic notes.
A member of the committee had suggested banning the Rs 5,000 note to prevent smuggling, however, the State Bank Governor rejected the proposal saying there is no intention to ban the Rs 5,000 note.
