New Pakistani currency notes will be released in mid-2025, as per Mr. Jamel Ahmad the Governor of the State Bank of Pakistan (SBP).
Enhanced security features for better protection constitute a hallmark of these updated currency notes. This series is expected to replace the current series.
In the next two to three months, the SBP intends to seek clearance from the federal cabinet for these new Pakistani currency notes.
Roll out will be progressive, and it will introduce the denominations one at a time to ensure smooth transition if it is authorized.
Ahmad said that a decision has yet to be taken on which particular denomination will be printed first.
Features of new Pakistani currency notes
Pakistan’s current currency notes are issued in denominations of Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1,000, and Rs. 5,000.
It is only in July 2025 that the new series will hit the stores with the onset of the fiscal year 2025–2026.
Moreover, Ahmad’s comments follow Security Papers Limited (SPL) recent announcement to upgrade its manufacturing plant.
The proposed 18-month revamp will help SPL include international security features in the production process of the new banknotes.
The SBP had a banknote design competition in September 2024 to select the winning designs for the next series.
The purpose of this competition, which started earlier in 2024, was to refresh the appearance of all denominations.
In addition to providing currency updates, Ahmad briefed the following projects which include currency development.
SBP plans to implement “InvestPak”, that will be the online portal, not only for the corporates but for all investors as well.
It is through this tool, that it is expected that it would directly offer the investing platform of the state’s debt instrument. It includes instruments like T-bill and PIBs. A pilot launch will soon take place.
Furthermore, the SBP has been closer to launching a Central Bank Digital Currency also known as CBDC.
However, before its launch, it needs legal approval that should be initiated by the government.
Thus, these are attempts by the SBP to modernize Pakistan’s financial systems.
