New Currency Notes Pakistan 2025: Upgrade Delays Release
The introduction of new currency notes in Pakistan has been delayed due to the need for upgrading the machinery at Security Papers Limited, the manufacturer of the currency notes, to meet international standards. The upgrade, which is expected to take 18 months, will enable the company to produce high-quality currency notes that comply with global benchmarks.
The existing machinery, which was installed in 2004, is outdated and needs to be upgraded to improve efficiency and meet the requirements of the State Bank of Pakistan. The Governor of the State Bank of Pakistan, Jameel Ahmed, announced that the new design currency notes are expected to be released by the end of 2025, subject to Cabinet approval. The new notes will be released in phases, with the first one expected to be released in the next fiscal year.
In addition to the introduction of new currency notes, the State Bank of Pakistan is also working on introducing a Central Bank Digital Currency (CBDC). A bill to provide a legal framework for the digital currency is currently under consideration with the federal government. Once the bill is passed, it will provide the necessary legal foundation to move forward with the digital currency initiative, which is a high-tech initiative requiring a deep understanding of global trends and cutting-edge technology.
The delay in the production of new currency notes and the introduction of a digital currency are part of the State Bank of Pakistan's efforts to strengthen its technological capabilities and improve the country's financial system. The bank has been studying global developments and learning from technological frameworks adopted by other countries for digital currency, and is committed to introducing a secure and efficient payment system.
