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| new currency notes of pakistan 2024 |
The announcement came a day after the SBP Governor decided to pursue the issue of counterfeit notes and the decision to introduce new currency notes with advanced security features at a meeting of inspectors
In a press release issued Tuesday, the central bank said it is “established practice” to issue new notes every 15 to 20 years for security purposes.
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| new currency notes of pakistan 5000 new currency note |
As part of the initial design process, SBP is organizing an art competition for “new theme design ideas for the new series of banknotes”.
Local designers, sculptors and art students are eligible to participate in the art competition, the central bank said, adding that painting can be about socio-cultural identity, diversity, climate change and the environment protection of our environment, economic development, natural landscapes, architectural heritage and national identities.
Entries must be submitted by March 11, after which a panel of “eminent artists” will recommend six designs for each church.The plans will be reviewed by “professional bill designers” who will recommend six plans for each church to the SBP, who will then select the final three plans.The final designs will be submitted to the federal government for approval.
Prizes of Rs 10 lakh, Rs 5 lakh and Rs 3,00,000 will be awarded to the artists with the first, second and third place designs of each church respectively.Outlining the overall timeline for the process, the SBP said the new documentation process “involves multiple steps” with “careful planning and collaboration among multiple stakeholders” .The new documentation process is expected to be completed “within the next two years,” the press release added.
Older entries will remain valid even after the new series,
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