There will be a decision taken to convert all currency notes from 10 to 5 thousand.
While giving a report to the Senate Standing Committee on Finance, State Bank Governor Jameel Ahmed said that by December, all money will have the new form. Instead of paper money, a plastic note will also be used. The federal government will soon give its approval for the currency designs to be used.
Mohsin Aziz, a member of the committee, recommended that the 5000 note should be banned to stop people from smuggling it. However, the governor of the State Bank said that the 5000 note would not be banned and that there are no plans to do so. The life of plastic currency is the same as that of paper currency. If it gets better, it will be used forever.
Also, Jameel Ahmed said that to convert all currency notes designs would have all kinds of new features, and they would be made of flexible plastic.
Entertainment3 months ago
