New currency notes approved in Pakistan

Summary: The federal cabinet has approved the design of new currency notes in Pakistan on the recommendation of the Ministry of Finance, while it has also decided to introduce an Rs 10 coin in place of the existing Rs 10 banknote. Modern security features and durable materials will be used in the new notes to prevent counterfeiting. The cabinet also ratified the previous decisions of various committees.

Islamabad: The federal cabinet has approved the design of new currency notes in Pakistan, while it has also decided to introduce an Rs 10 coin in place of the existing Rs 10 banknote.

The federal cabinet meeting chaired by Prime Minister Shehbaz Sharif approved the design of new currency notes on the recommendation of the Ministry of Finance.

The meeting was given a detailed briefing regarding the preparation and design of the new notes. Officials said that suggestions were sought from artists and designers across the country for this purpose.

The cabinet committee formed by the prime minister also consulted with stakeholders on the design of the new currency notes.

According to the announcement, the new notes will include advanced security features to prevent counterfeiting, while modern materials will be used in their preparation to make the notes more durable and increase their useful life.

The federal cabinet also approved the introduction of a Rs 10 coin in place of the Rs 10 banknote.

However, no final date or schedule was announced for the issuance of the new notes and the replacement of the existing Rs 10 note.

The meeting also ratified the decisions taken in the October 26 meeting of the Cabinet Committee on Government-Owned Enterprises.

Similarly, the decisions of the meetings of the Cabinet Committee on Legislative Cases on January 22, February 26, August 5, 18 and 27, and September 11 and 22 were also approved.

The aim of approving the new currency notes is to improve the security of the notes and reduce the chances of counterfeiting.