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ISLAMABAD:
The federal government has decided to introduce new designs of the currency notes, with the move receiving formal approval from the federal cabinet, which has constituted a cabinet committee to oversee and consider the redesign process.
The decision was taken during a meeting of the federal cabinet held at the Prime Minister’s House in Islamabad, chaired by Prime Minister Shehbaz Sharif, where the members were briefed by the finance ministry about the proposed changes.
The Cabinet was informed that the State Bank of Pakistan (SBP) is working on the new designs for currency notes in accordance with modern and contemporary requirements and international experts have been engaged to ensure that the designs meet global standards.
The Cabinet members were informed in the briefing that new designs will be introduced for Rs100, Rs500, Rs1,000 and Rs5,000 currency notes, marking a significant update to the country’s existing paper money.
The meeting was told that the new currency notes would contain enhanced security threads and improved security features with the aim of reducing counterfeiting and enhancing public confidence in the national currency.
It was further informed that the redesigned banknotes would reflect Pakistan’s regional and geographical diversity along with prominent historical landmarks, giving the currency a stronger national and cultural identity.
In addition to visual and safety upgrades, the designers will also incorporate important social themes, including the role of women in national development and the challenges posed by climate change.
The federal cabinet decided to form a committee to conduct further deliberations on the design of the new notes and related issues before their final rollout.
