Pakistan’s redesigned currency notes could face delays after the government returned the proposed designs to the State Bank of Pakistan (SBP) for further improvements, according to SBP Governor Jameel Ahmad.
The governor said the SBP had already submitted the new banknote designs for approval, but the government requested additional changes and refinements before giving final clearance.
Speaking at the Karachi Chamber of Commerce and Industry, Jameel Ahmad said the central bank is now working on the revised designs. He added that the final approval for the new currency notes will come from the federal cabinet.
The SBP had earlier announced plans to launch redesigned banknotes with improved security and modern design features as part of efforts to upgrade Pakistan’s currency system.
During his address, the SBP governor also said Pakistan’s economic situation has improved compared to three years ago, although several challenges still remain.
He noted that regional tensions and conflicts in the Middle East continue to create economic risks for Pakistan. Jameel Ahmad also said the opening of letters of credit has improved significantly since 2023.
According to him, Pakistan’s average monthly imports now exceed $5 billion, compared to around $3 billion per month three years ago.
