ISLAMABAD: The State Bank of Pakistan (SBP) has announced plans to replace old banknotes with newly designed currency, including the introduction of plastic notes.
SBP Governor Jameel Ahmad, during a briefing at the Senate Standing Committee on Finance, stated that the new currency design, incorporating advanced features, will be finalized by December after receiving approval from the federal cabinet.
Governor Ahmad mentioned that the SBP would test the durability of the plastic notes before fully rolling them out.
He also assured that the Rs 5,000 banknote would remain in circulation, with no plans for discontinuation. The introduction of plastic notes is intended to enhance the lifespan and durability of the currency.
