KARACHI – The State Bank of Pakistan (SBP) has made a decision to introduce new currency notes of all denominations in the country, following which a competition has been announced for the design of new currency notes.
In this regard, the State Bank has invited local artists, designers, and students to participate in the competition for the design of new notes.
It has been informed by the central bank that local artists, designers, and students can submit their designs to the State Bank by March 11. Among the submissions, three designs for each of the seven different denominations will be rewarded with cash prizes.
Experts in currency notes will evaluate the successful models, after which the finalised design will be approved by the cabinet.
The process of introducing new currency notes of all denominations will be completed within the next two years. However, the legal status of all existing currency notes will remain intact alongside the current designs. After issuing the new currency notes with the new design, the old notes will be gradually phased out.
https://en.dailypakistan.com.pk/29-Jan-2024/pakistan-decides-to-introduce-new-currency-notes-of-all-denomination
