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Pakistanis will not see newly designed currency notes this Eid, as the State Bank of Pakistan (SBP) has confirmed that the issuance process has not yet begun. SBP Governor Jameel Ahmad said the printing of new notes will start only after formal approval from the federal cabinet, making their circulation before Eid impossible.
Speaking on the matter, Governor Jameel Ahmad clarified that although the designs for the new currency notes have been finalized, cabinet approval is still pending, which is a mandatory step before printing can commence.
“The new currency notes will not be available by Eid as the printing process can only begin after federal cabinet approval,” the governor stated.
The State Bank had earlier approved updated designs for Pakistan’s currency notes as part of efforts to enhance security features and modernize the country’s cash system. However, delays in administrative approvals have pushed the timeline forward, meaning existing notes will remain in circulation for now.
The SBP governor also reiterated Pakistan’s commitment to a tight monetary policy under its agreement with the International Monetary Fund (IMF). He revealed that the country has already paid $6 billion in external debt and interest, highlighting ongoing efforts to stabilize the economy amid fiscal challenges.
