Advertisement
News

SBP Clarifies Art Competition Not Linked to New Banknote Designs

Advertisement

The State Bank of Pakistan (SBP) clarified that the winners of the art competition for banknote designs, announced on September 5, are not the shortlisted designs for the new currency series.

In a statement, the SBP explained that the art competition, which began this year, was intended to gather thematic design ideas for the new banknote series. “The actual designs of the proposed new series are being designed by reputed international firms selected through a competitive process,” the central bank said.

Read also: Women Dominate State Bank’s Currency Design Contest, Winning Top Prizes

The competition’s purpose was to acknowledge and reward the artists’ efforts with monetary prizes. The international firms tasked with creating the new currency notes will submit their design proposals by December 2024.

Once approved by the SBP Board, the final designs will be sent to the Federal Government for approval by January 2025. “The SBP would initiate the printing process for the new banknote series after the approval by the Federal Government,” the statement added.

Advertisement
News Desk

Recent Posts

Daraz Pakistan teams up with Walee to stream HBL PSL X, bridging cricket and e-commerce

Daraz Pakistan, the country’s leading e-commerce platform, has entered into a partnership with Walee, the…

2 days ago

Karachi Traders Report Disappointing 2025 Eid Sales

Despite crowded markets and high expectations, Karachi’s traders have expressed disappointment over sluggish sales during…

3 days ago

PM Announces Reduced Electricity Tariff: Here’s What You’ll Pay Now

Prime Minister Shehbaz Sharif has announced a reduction in electricity tariffs, lowering the national average…

3 days ago

Farhan Saeed and Kinza Hashmi Star in Highly Anticipated Drama Shirin Farhad

The much-anticipated drama Shirin Farhad has officially hit the screens, and fans can’t stop talking…

3 days ago

PepsiCo Pakistan Continues “Filling Hearts” Initiative, Distributing 750,000+ Meals to Communities

PepsiCo Pakistan is advancing its food security efforts this Ramadan through the "Filling Hearts" initiative,…

3 days ago

BYD Reports Record-Breaking Revenue of RMB 777.1 billion in 2024

BYD released its 2024 financial report, with key indicators reaching record highs! The company achieved…

1 week ago