The State Bank of Pakistan has clarified that newly designed currency notes will not be available in the market by the upcoming Eid, ending speculation about their possible circulation before the festive season.
State Bank Governor Jameel Ahmad said the process of issuing new banknotes has not yet reached the production stage. He explained that printing can only begin after formal approval from the federal cabinet, which is still pending.
According to the governor, preparations related to the redesign of currency notes are complete at the central bank’s level. However, without cabinet clearance, the next steps, including printing and distribution, cannot move forward.
He emphasized that even after approval, the process of printing, security verification, and nationwide circulation would take considerable time. As a result, the redesigned notes will not reach the public before Eid.
The clarification comes amid public anticipation, as new currency notes are traditionally in high demand during Eid for gifting purposes. Commercial banks are also unlikely to receive any fresh stock of redesigned notes ahead of the festival.
The State Bank has advised the public to rely on existing currency notes, which will remain legal tender. Officials reiterated that once the federal cabinet grants approval, the central bank will formally announce a timeline for the issuance of new notes.
For now, expectations of new banknotes appearing before Eid have been ruled out, with authorities stressing that regulatory and procedural requirements must be completed first.
