Business Desk 
Jan 28, 2025
In a significant step towards innovation, the State Bank of Pakistan (SBP) Governor Jameel Ahmed announced on Monday that the central bank would soon roll out redesigned currency notes.
The SBP chief noted that the first batch of new banknotes is expected to be released by the end of this year, as reported by The News.
The development followed the announcement of the Monetary Policy Committee's (MPC) decision to cut the key policy rate by 100 basis points (bps) to 12%, down 1% from 13%.
A committee has been entrusted to ensure the smooth and timely delivery of redesigned banknotes since the issuance of new banknotes is an extensive, time-consuming process.
When will new currency notes launch in Pakistan?
Regarding the delay in the circulation of much-awaited new currency notes, the SBP governor outlined that the new design has yet to be approved by the cabinet in the next two to three months.
He explained that the distribution of freshly designed notes will be conducted in phases, but did not disclose which denomination will make its way out first.
“All currency notes will be issued gradually, but we are still in the final stages of approval,” said Ahmed.
It was also learned that the government is considering to draf a bill to establish essential regulations and legal frameworks for the launch of a central bank digital currency (CBDC).
