State Bank of Pakistan Approves New Currency Note Designs 2026. State Bank of Pakistan Approves New Currency Note Designs 2026. Is Pakistan getting new currency notes?
Yes. The State Bank of Pakistan has finalized new currency designs and moved the process forward. This update answers public concerns about note replacement, security features, and whether the Rs. 5,000 note will continue.
State Bank of Pakistan Finalizes New Currency Designs
The State Bank of Pakistan has officially completed the design phase of Pakistan’s new currency notes.
According to Governor Jameel Ahmad, the designs were approved by the State Bank Board and have now been forwarded to the Ministry of Finance for final clearance.
This confirmation puts an end to months of speculation about redesign delays and internal disagreements.
When Will New Currency Notes Be Issued?
Although designs are finalized, the notes will not be issued immediately.
Approval Process Explained
The next step is federal government approval.
Only after formal authorization will printing and circulation begin.
Key point:
Design approval does not mean instant launch.
This phased approach helps ensure:
- Legal compliance
- Economic stability
- Smooth replacement without panic
Rs. 5,000 Note Will NOT Be Discontinued
One of the biggest public concerns has been the future of the highest denomination note.
Governor Jameel Ahmad clearly stated:
There is no proposal to discontinue the Rs. 5,000 note.
Why This Clarification Matters
Rumors about discontinuation had triggered:
- Cash hoarding fears
- Market uncertainty
- Public confusion
This official statement restores confidence among businesses and individuals who rely on high-value transactions.
Why Pakistan Is Redesigning Currency Notes
Currency redesign is not just cosmetic.
It plays a key role in economic management.
Main Reasons Behind New Designs
- Enhanced security features
- Reduced counterfeiting
- Improved durability
- Updated national identity elements
Expected Security Improvements
| Feature | Purpose |
|---|---|
| Watermarks | Prevent fake printing |
| Security threads | Easy public verification |
| Color-shifting ink | Advanced anti-counterfeit |
| Raised print | Accessibility for visually impaired |
Senate Finance Committee Meeting Highlights
The currency update was shared during a meeting of the Senate Standing Committee on Finance.
However, the session also exposed serious concerns about Pakistan’s tax policies.
Concerns Raised Over Super Tax Pressure
Senator Abdul Qadir raised strong objections to the current super tax recovery model.
Main Issues Highlighted
- Lump-sum payment demand
- Coverage of multiple years
- Heavy pressure on businesses
He warned that excessive tax burden could:
- Push businesses offshore
- Reduce local investment
- Increase unemployment
Criticism of FBR’s Tax Collection Approach
The Federal Board of Revenue faced criticism over its enforcement methods.
Key Allegations
- Aggressive recovery tactics
- Phone calls and mass SMS notices
- Psychological pressure on taxpayers
Senators emphasized that tax collection should encourage compliance, not fear.
Sherry Rehman Questions Revenue Strategy
Senator Sherry Rehman highlighted deeper structural flaws in Pakistan’s taxation framework.
She pointed out that:
- Super tax falls under parliamentary authority
- Repeatedly taxing the same groups is unsustainable
Why This Matters
Over-taxing a narrow base leads to:
- Reduced economic activity
- Capital flight
- Long-term revenue decline
FBR Responds: Instalments May Be Allowed
In response, the FBR Chairman acknowledged the concerns.
Key Announcements
- Instalment payments may be allowed in selected cases
- Total super tax collection has reached Rs. 217 billion
This flexibility could ease pressure on businesses while maintaining revenue flow.
Digital Outreach Boosts Tax Registration
The Finance Minister shared an interesting data point.
Impact of SMS Campaign
- One million new taxpayers registered
- Automated phone messages proved effective
Even the Finance Minister confirmed receiving an FBR message himself.
This shows digital nudges can work better than force.
How Currency Reform and Tax Policy Are Connected
Currency reforms and tax enforcement may seem unrelated.
But both affect public trust.
Public Confidence Depends On
- Stable currency
- Fair taxation
- Transparent governance
A modern currency system without fair tax policy can still fail to gain trust.
What Citizens Should Expect Next
Short-Term
- Government review of currency designs
- No change in existing notes
Medium-Term
- Gradual rollout announcement
- Public awareness campaign
Long-Term
- Stronger currency security
- Improved transaction reliability
FAQs
Has Pakistan approved new currency notes?
Yes. The State Bank Board has approved the designs, pending federal government clearance.
Will the Rs. 5,000 note be banned?
No. There is no proposal to discontinue the Rs. 5,000 note.
When will new notes come into circulation?
After government approval. No official date has been announced yet.
Why is Pakistan redesigning currency notes?
To improve security, reduce counterfeiting, and modernize currency features.
Conclusion
Pakistan is moving carefully toward currency reform. The approval of new note designs by the State Bank signals progress, not disruption. With the Rs. 5,000 note staying intact and security upgrades on the way, the focus now shifts to transparent rollout and fair economic policies.
