The State Bank of Pakistan (SBP) on Tuesday firmly denied claims that it is not issuing fresh banknotes.
In an official statement, the central bank affirmed its longstanding practice of distributing fresh banknotes to commercial banks ahead of Eid-ul-Fitr. It emphasized that this is done through an extensive network of bank branches nationwide to ensure public access to new currency.
“As part of this practice, SBP has already issued Rs. 27 billion in fresh banknotes of various denominations to 17,000 commercial bank branches for distribution to the public,” the statement read.
Additionally, the SBP assured that measures are in place to ensure uninterrupted ATM services, providing good-quality banknotes throughout the festive season.
To further streamline the distribution process and maintain availability at all commercial bank branches, the central bank has also deployed cash monitoring teams to conduct onsite inspections, ensuring fresh banknotes reach the public as intended.
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