The State Bank of Pakistan has announced that the preparation of newly designed currency notes has entered its final stages, and printing will begin after approval from the federal cabinet. The announcement was made by Governor State Bank Jameel Ahmad while addressing a press conference following the monetary policy statement on Monday.

According to the governor, the central bank is ready to print two to three denominations of the newly designed banknotes simultaneously once cabinet approval is granted. He stated that the printing process is already well advanced and will commence immediately after formal approval.

Jameel Ahmad clarified that the newly designed currency notes will not be introduced into the market immediately. Instead, they will be released into circulation in phases. He explained that the new notes will be issued only after the central bank has sufficient stock to replace the existing currency notes gradually.

However, the governor did not specify which denominations would be introduced first. Currently, currency notes of 10, 20, 50, 75, 100, 500, 1000, and 5000 rupees are in circulation across the country.

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He further stated that the designs of the new currency notes had already been sent to the government for approval and were later presented before the federal cabinet. Earlier, the Prime Minister’s Office had informed that the federal cabinet, under the chairmanship of Prime Minister Shahbaz Sharif, reviewed the proposals related to the new currency note designs and formed a cabinet committee for the matter.

The cabinet was also briefed that the redesigning of currency notes is being carried out in line with modern requirements, with assistance from international experts.