Pakistan’s central bank, the State Bank of Pakistan (SBP), is tackling the rising problem of counterfeit money head-on. Governor Jameel Ahmad announced plans to introduce completely new currency notes across all denominations, featuring enhanced security and a fresh design.
This decisive move aims to combat the illicit financial activities currently plaguing the country. The new notes will be printed on a special material incorporating cutting-edge international security features, making them much harder to forge.
“These new notes will not only look different with updated designs and serial numbers, but they will also be much harder to counterfeit,” assured Governor Ahmad.
The design process is already underway and is expected to be finalized by March. Sources attribute the decision to revamp the currency to the increasing number of complaints about fake notes circulating nationwide.
The issue reached parliament last year when concerns were raised about the alarming spread of fake Rs5000 bills, even fooling some State Bank officials. Senator Salim Mandviwala, chair of the Senate Standing Committee on Finance, highlighted the severity of the problem, demonstrating how even parliamentarians were not safe from the fraud.
“We need swift and decisive action from the central bank to stop this,” demanded the Senator, suggesting that banks themselves might be a source of the fake notes.
With this bold step, the State Bank of Pakistan is sending a clear message: fake notes will not be tolerated. The new currency promises to be secure, reliable, and a major step towards a cleaner financial system for all Pakistanis.
