These days there are a lot of rumors in the air that State Bank of Pakistan is working on new design of Pakistan currency notes. Many high profile social media page are sharing this news along with picture and in those picture currency notes are completely redesigned.
We have confirmed that this news is false and there are no plans for new currency notes.
Abid Qamar SPB spokesperson confirmed this news is false to ProPakistani he spokesperson outright rejected the claims and said that no such thing has been under consideration at the State Bank of Pakistan.
The rumors started spreading after the central bank announced that old-design banknotes (which were used years ago) of Rs 10, 50, 100 and 1,000 would be phased out. Federal Government’s Gazette Notification on June 4th stated that legality of old notes would end from December 1st 2016. Rs 5 and 500 notes have already been decommissioned. The new notes started in 2005 with Rs 20 note and ended with the complete series of notes in 2008.
The new notes were launched to improve security, durability and aesthetic quality of the notes. The old notes will be accepted in all banks until 30th of November this year. After that, the notes will no longer function in any transactions. SBP Banking Services Corporation (BSC) will however continue to accept the old notes until December 31st 2021.
The rumors about the redesign started due to false reporting from some websites. They simply took concept designs of Pakistani currency and stated that they were the new designs under consideration. In that sense, not only was it dishonest and lazy reporting, it was also intentional creative misuse.
The designer Shan Ul Haq, said he had no intentions of sending these designs to SBP for consideration,
If you want detailed look into the designer’s concept currency note project click here.