Govt approves Rs10 coin to replace banknote, new currency designs
The federal cabinet has approved the introduction of a Rs10 coin to replace the existing Rs10 banknote as part of a broader plan to introduce newly designed currency notes with enhanced security features. The decision was taken at a cabinet meeting chaired by Prime Minister Shehbaz Sharif on Wednesday, according to a statement issued by the Prime Minister’s Office. The cabinet also approved the…
The federal cabinet in Pakistan has approved the introduction of a Rs10 coin to replace the existing Rs10 banknote, as part of a broader plan to introduce newly designed currency notes with enhanced security features. The decision was made at a cabinet meeting chaired by Prime Minister Shehbaz Sharif, following proposals from the State Bank of Pakistan to discontinue the Rs10 banknote due to rising production costs.
The new currency notes will feature enhanced security measures to prevent counterfeiting and use modern materials to increase durability. The approval comes after the SBP launched an art competition in March 2024, inviting design proposals, and the winners were announced in September 2024. The new banknotes are expected to be introduced into circulation within a year, with the printing cost of a Rs5,000 note estimated at Rs14.
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