The introduction of new currency notes in the country may face a delay, according to the State Bank of Pakistan (SBP).
State Bank Governor Jameel Ahmad said the launch of the redesigned currency notes could face a delay. He added that the proposed designs had already been sent to the government for approval; however, the government has returned them to the State Bank of Pakistan for further revisions and improvements.
It was reported in the media that the process is now under review, and the final rollout timeline will be decided after the necessary changes are completed. The State Bank is currently working on these revisions, and the final approval will be given by the federal cabinet.
Earlier, while addressing traders at the Karachi Chamber of Commerce, the State Bank Governor said that there is a significant difference between the country’s economic conditions today and those of three years ago.
He added that although the economy has recovered, several challenges still remain, including economic pressures linked to the Middle East conflict.
Jameel Ahmed also stated that, compared to 2023, the opening of letters of credit has improved in 2026. Pakistan’s average monthly imports are currently over $5 billion, whereas three years ago, the average monthly imports were around $3 billion.
Years of preparation behind the redesign
Work on the new currency series formally began in January 2024, when the SBP launched a nationwide effort to redesign all existing denominations. An art competition held in March 2024 invited creative ideas for the new notes, and the winners were announced in September 2024.
On the production side, Security Papers Limited has also been preparing for the shift. In March 2025, the company awarded a Rs3.4 billion upgrade project to German firm Giesecke+Devrient to modernise its paper production facilities. The upgrade is expected to take 18 months, aligning closely with the SBP’s rollout plans.
Taken together, these steps suggest that while printing could begin soon, Pakistanis may see the new notes enter circulation later, once both approval and logistical readiness are fully in place.
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