KARACHI: State Bank of Pakistan (SBP) has decided to introduce new currency notes of all denominations in the country.

The SBP said new notes will be printed with international security features and this move will prove a setback for those stashing black money in the in country. The new notes will be introduced with covering, serial numbers, and designs.

SBP Governor Jamil Ahmed said competitions will be organized in February for the new design of the currency notes.

He said the new banknotes will carry international standard features to curb the flow of fake currency notes in the country. He said all matters related to the launch of the new currency will be finalized by March 2024.

The SBP governor said that the currency notes will not be replaced at once like in India where such a decision caused chaos.

[embedpost slug=”sbp-to-announce-monetary-policy-on-jan-29″]

Earlier, State Bank of Pakistan (SBP) will announce Monetary Policy on January 29 in a meeting of the Monetary Policy Committee.

According to the SBP’s press release, the Monetary Policy Committee (MPC) will meet on Monday, January 29 to decide about the Monetary Policy, a press release issued by SBP said.

Governor, SBP Jameel Ahmad will announce the monetary policy decision at a press conference on the same day after the MPC meeting.