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State Bank of Pakistan launching new design currency notes in 2021?

Karachi: State Bank of Pakistan has no plans to launch currency notes, said a spokesman Sunday while reacting to speculations being made online.

When asked whether the bank plans to launch new design notes of Rs1,000, 500, 100 and 50, Abid Qamar said “no such move” is under consideration.

Rumors are swirling that the aim of new banknotes is to prevent counterfeit notes from spreading. The State Bank of Pakistan has not issued any official statement regarding the new design currency notes.

Meanwhile, pictures of the plastic currency notes of Rs1,000, Rs100, Rs50 and Rs500 denominations that are doing the rounds on social media show the notes designed by a student of a university in Peshawar.

Speculations regarding launch of new notes apparently started after Senator Saleem Mandiwalla recently stressed the need for introducing “plastic notes’.

Below are the pictures of the notes being circulated online:

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