Polymer Plastic Notes in Pakistan: The international community has also repeatedly expressed concern about the economy of Pakistan. Pakistan has also received large amounts of loans and financial assistance from international agencies to support its economic growth. In this context, the Central Bank of Pakistan has taken a big decision. The Governor of the State Bank of Pakistan (SBP), Jamil Ahmed, has announced the introduction of polymer plastic banknotes in Pakistan. PTI has reported.
Pakistan is worried about fake notes.
Meanwhile, fake currency notes have been circulating in Pakistan for the past few months. The opposition parties have alleged that the fake currency notes are causing huge damage to Pakistan's economy. Against this backdrop, the administration was examining options to curb counterfeit notes and to ensure that fake notes could not be easily produced. The Governor of the State Bank of Pakistan (SBP) Jamil Ahmed has finally decided to use banknotes made of polymer plastic for currency.
Jamil Ahmed has given this information to the Committee on Banking and Finance of the Parliament of Pakistan. A new alternative to the paper currency currently used in the economy is being prepared, which will include many security-related things. He said that these notes will be available in the market by December this year.
Rs 5000!
It is being told that the notes made using polymer plastic will also include Rs 5000 notes. The notes will be in denominations of Rs 10, Rs 50, Rs 100, Rs 500, Rs 1000 and Rs 5000.
The old notes will remain in circulation for the next five years. Until then, the process of phasing out the economy will continue, "Jameel Ahmed said. At first, notes of the same denomination were introduced in the market. After it is accepted by the people, notes of other denominations will also be introduced in the market after the people start using them regularly.
At present, about 40 countries around the world use polymer plastic banknotes as their national currency. It is difficult to counterfeit such notes and holograms and other security measures are considered to be more effective.