The federal government has decided to redesign all currency notes from Rs. 10 to Rs. 5,000, while also planning to introduce a plastic polymer note alongside paper currency, sources told ProPakistani.
The key development is that no existing currency note will be discontinued, but all notes will be issued with new designs and updated security features. The redesigned notes are expected to be introduced during the current year, sources in the Ministry of Finance said.
Officials said Pakistan currently has around Rs. 10,260 billion worth of currency in circulation across the country. To facilitate the replacement of old notes, the government will issue a clear timeline to all banks for exchanging existing currency with newly designed notes.
Sources said approval from the Federal Cabinet of Pakistan will be sought shortly to formally launch the new currency series.
Under the plan, one denomination will be introduced as a plastic polymer note, while the rest will continue as paper currency. The polymer note will use a special plastic material and will be tested for durability. If the plastic note proves to have a longer life than paper currency, it may be adopted more widely in the future.
Officials said the new notes will feature advanced security elements and modern design features to improve durability and reduce counterfeiting.
Sources added that the government intends to roll out all redesigned currency notes within the year, ensuring a smooth transition without disrupting cash circulation or daily transactions.
The image used in this article is for illustrative purposes only.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.