The State Bank of Pakistan (SBP) has denied social media reports regarding the issuance of polymer (plastic) banknotes.
In a press release, the central bank stated, “SBP strongly refutes the reports as baseless and without substance. 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.”
These reports started circulating on social media shortly after the State Bank of Pakistan (SBP) announced a design competition for the issuance of new banknotes. However, SBP has clarified that it has no plans to change the substrate of the banknotes.
Read more: How to Participate in Art Competition For New Pakistan Currency Notes.
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