SBP denies reports of issuing plastic notes

KARACHI: The State Bank of Pakistan(SBP) has categorically denied reports of issuing plastic currency notes.

A spokesperson for State Bank of Pakistan , refuted the news of issuing plastic notes has been denied.

The State Bank officials termed as baseless the news of issuing new polymer notes (plastic notes) circulating on social media for the past few days and said that there is no plan or proposal under consideration to make the notes polymer (plastic notes).

It should be noted that the news of issuing new plastic notes to prevent fake currency and giving a briefing to the International Monetary Fund (IMF) delegation in this regard came out couple of days ago.

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SBP to Introduce Plastic Banknotes to Curb Counterfeiting

Today, the ongoing discussions between Pakistan and the International Monetary Fund (IMF)...

Earlier , the ongoing discussions between Pakistan and the International Monetary Fund (IMF) regarding the upcoming loan installment are set to continue.

The IMF representatives will be briefed on various issues, including reforms in the Federal Bureau of Revenue (FBR), tax collection, and immediate measures to reduce tax collection for the current fiscal year.

Furthermore, officials from the State Bank of Pakistan (SBP) will present their plan to introduce new plastic currency notes to tackle counterfeit money, a strategy already implemented in Far Eastern countries and Switzerland.