Karachi (Pakistan News Online) The State Bank of Pakistan (SBP) has shortlisted the designs for new currency notes ranging from Rs 10 to Rs 5,000.
The SBP has revealed that in the first phase there are two designs which were initially selected for the Rs 10, Rs 500 and Rs 5,000 notes and one would be approved later. The images of Quaid-e-Azam Muhammad Ali Jinnah and Fatima Jinnah have been displayed on these new bank notes in a big way. These notes will be made according to global benchmarks and should be available by December.
During a meeting of the Senate Standing Committee on Finance on August 21, the SBP Governor announced that all currency notes would be redesigned by December. After obtaining formal approval, the new notes will be released. The governor also noted that enhanced security features would be incorporated into the new notes. Additionally, the SBP plans to test plastic currency notes, and if they are well-received by the public, they will be introduced on a larger scale.
The SBP also announced the winners of its design competition, where several artists received accolades for their exceptional submissions. Dr. Shery Abidi won first prize for the Rs 10 banknote design, while Mr. Mirza Sufiyan secured second place. Other notable winners include Mr. Haroon Khan for the Rs 20 note and Ms. Memoona Afzal, who claimed the top prize for both the Rs 100 and Rs 5,000 notes.
The SBP praised the creativity of local artists who participated in the competition and mentioned that the new designs are currently under review by international designers, who will finalize the appearance of the new banknotes.
