The governor of the State Bank of Pakistan (SBP) announced during a Senate Standing Committee on Finance meeting in Islamabad that new designs for all currency notes ranging from Rs10 to Rs5,000 have been prepared. The official stated there was no proposal to discontinue the Rs5,000 note.
The governor clarified that reports suggesting the abolition of the Rs5,000 note were incorrect and not under review. He explained that proposals for new designs had been sent to the Ministry of Finance after detailed work by the central bank and approval from the State Bank Board. The matter has now been forwarded to the federal cabinet for consideration.
The governor also revealed that the new currency notes would incorporate advanced security features designed to prevent counterfeiting. During the meeting, he offered an in-camera briefing on the development process at the next committee session, where sample notes would be presented.
Committee members were informed that progress on the matter was expected soon and that the final decision on the designs would be made by the federal cabinet.