State Bank of Pakistan (SBP) Governor Jameel Ahmad has stated that new designs for all Pakistani currency notes, ranging from Rs 10 to Rs 5,000, have been prepared.
Speaking during a meeting of the Senate Standing Committee on Finance on Wednesday, Governor said that proposals related to the redesigned banknotes have been forwarded to the Ministry of Finance. He clarified that there is no proposal under consideration to discontinue the Rs. 5,000 note.
The Governor explained that the State Bank has completed detailed work on the new currency notes and, after receiving approval from the State Bank Board, the matter has been sent to the federal cabinet.
He further stated that modern security features have been incorporated into the new designs to curb counterfeiting. According to the Governor, the final decision regarding the issuance of the new currency notes will be made by the federal cabinet.
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.
Read more: When will SBP issue new currency notes?
