All currency notes to get new designs; plastic notes under consideration, says SBP Governor.
Islamabad, Pakistan – Web Desk: Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, briefed the parliamentary committee regarding the issuance of newly designed currency notes. He confirmed that all denomination notes are being redesigned with modern security features, and proposals have been sent to the federal cabinet for final approval.
Ahmad clarified that the controversial PKR 5,000 note will not be withdrawn, dismissing rumors of its removal. He also highlighted that plastic currency notes are being considered on a trial basis to introduce modern technology in Pakistan’s currency system.
During the briefing, discussions included ATM transaction SMS charges, with the Governor stating that mandatory SMS alerts remain free, while charges apply only to optional service messages, which are paid directly to telecom companies. He noted that SMS charges have risen from PKR 0.04 to over PKR 4 in the last two years.
Additional matters discussed included bank account procedures, signature requirements on forms, and international trade in foreign currencies. Ahmad stated that China-Pakistan trade already uses the Chinese Yuan, while queries on UAE currency trade were deferred to the Foreign Office.
