SBP refutes plastic banknote rumors

MG News | March 16, 2024 at 01:42 PM GMT+05:00

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March 16, 2024 (MLN): The State Bank of Pakistan has categorically denied news reports about issuance of Polymer Banknotes Series, said a press release issued today.

Apropos the reports circulating on various news portals regarding issuance of polymer (plastic) banknotes, "SBP strongly refutes the reports as baseless and without substance," it said.

The central bank said that there is no such plan or suggestion currently under consideration regarding change in the substrate of banknotes from paper to the polymer.

SBP uses cotton based paper substrate which is manufactured locally by the Security Papers Limited, using primarily local raw materials.

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