The State Bank of Pakistan (SBP) has officially finalized the designs for new currency notes and submitted them to the federal cabinet for approval. According to SBP Governor Jameel Ahmad, this initiative aims to modernize Pakistan’s currency system while introducing advanced security features to prevent counterfeit activities.
The announcement was made during a meeting with the Karachi Chamber of Commerce and Industry (KCCI), where the governor also addressed concerns regarding delays in launching the new banknotes. Previously, in January 2024, SBP invited the public to submit creative designs for the upcoming currency series, reflecting transparency and public engagement in the process.
The introduction of new banknotes follows a global standard practice, where countries redesign currency every 15 to 20 years to enhance security and maintain financial integrity. The updated notes are expected to significantly reduce fraud and strengthen confidence in Pakistan’s monetary system.
During the session, Ahmad also highlighted key economic indicators. He stated that inflation might temporarily rise above 7% in the last quarter of FY26 but reassured that SBP remains committed to maintaining it within the target range of 5–7%. Additionally, Pakistan’s current account has shown improvement, staying in surplus for the first nine months of FY26, reflecting stronger economic stability.
Remittances are expected to reach a record $41 billion this fiscal year, showcasing the vital role of overseas Pakistanis in supporting the economy. Furthermore, SME financing has seen substantial growth, increasing from Rs491 billion in June 2024 to Rs882 billion by December 2025, with ambitious targets set for future expansion.
Overall, the approval of new banknote designs marks a significant step toward economic modernization, enhanced security, and financial stability in Pakistan.
