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Islamabad, Pakistan – In a significant move, the State Bank of Pakistan has announced plans to replace all currency notes from Rs. 10 to Rs. 5,000 with new designs by December. This decision aims to enhance the security features and durability of Pakistani currency notes.
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According to a recent meeting of the Senate Standing Committee on Finance, State Bank Governor Jameel Ahmed revealed that the new currency notes will feature advanced security features and a new design. Additionally, a plastic currency note will be introduced to reduce counterfeiting and extend the life of currency notes.
The move is expected to boost Pakistan’s economy and reduce smuggling. However, some committee members suggested banning the Rs. 5,000 note to curb smuggling, but the State Bank Governor dismissed the idea.
Key highlights of the new currency notes include:
– Advanced security features to prevent counterfeiting
– New design and durable material
– Introduction of plastic currency notes
– Enhanced lifespan of currency notes