State Bank of Pakistan Refutes Claims on Polymer Banknotes Issuance

Karachi, The State Bank of Pakistan (SBP) has officially dismissed reports alleging the imminent issuance of polymer, or plastic, banknotes. Recent speculations on various news platforms suggested a shift in the banknote substrate from paper to polymer, prompting a response from the central bank to clarify the situation.

According to State Bank of Pakistan, the claims about transitioning to polymer banknotes are entirely unfounded and lack any basis. The SBP confirmed that there are no plans or discussions underway to alter the composition of banknotes from their current cotton-based paper substrate. This substrate is produced domestically by Security Papers Limited, utilizing mainly local raw materials, ensuring the continuity of traditional banknote production.