Pakistan’s new currency notes may face delays after the government returned the proposed designs to the State Bank of Pakistan (SBP) for further improvements, according to SBP Governor Jameel Ahmad.
The governor said the central bank had already submitted the new currency note designs for approval, but the government asked for certain changes and refinements before granting final clearance.
Speaking to traders at the Karachi Chamber of Commerce and Industry, Jameel Ahmad said the State Bank is currently working on the revised designs and that the final approval for the new banknotes will be given by the federal cabinet.
SBP had earlier announced plans to introduce redesigned currency notes with updated security and design features as part of efforts to modernize Pakistan’s currency system.
During his address, the SBP governor also highlighted improvements in Pakistan’s economic conditions compared to three years ago, although he acknowledged that several economic challenges still remain.
He said external risks linked to tensions and conflict in the Middle East continue to pose economic pressures on Pakistan. Jameel Ahmad added that the opening of letters of credit has improved significantly compared to 2023. He noted that Pakistan’s average monthly imports currently exceed $5 billion, compared to around $3 billion per month three years ago
