{
  "id": 3645422,
  "title": "SBP mulls ending Rs10 note on rising costs",
  "url": "https://urgent.news/2026/08/27/sbp-mulls-ending-rs10-note-on-rising-costs-3645422",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T02:31:07.000Z",
  "source": {
    "name": "Dawn",
    "slug": "dawn",
    "url": "https://www.dawn.com/news/2025322/sbp-mulls-ending-rs10-note-on-rising-costs"
  },
  "original_language": "en",
  "account": "The State Bank of Pakistan (SBP) is considering discontinuing the Rs10 banknote due to increasing printing expenses, according to Deputy Governor Dr Inayat Hussain. He briefed the Senate Standing Committee on Finance and Revenue about the possibility, while highlighting the preparation of a redesigned Rs5,000 note to combat counterfeiting. The bank's Deputy Governor informed the committee that the existing Rs5,000 note, introduced in 2005, is vulnerable to advanced counterfeiting techniques. A bidding process has been initiated for the new note's design, with four firms participating and a contract awarded to a consultant. It is expected to take around a year before the new notes are released into circulation, costing around Rs14 to produce. During the meeting, Senator Anusha Rahman urged the SBP to accelerate the approval process for currency designs, warning against repetitive minor amendments that lead to delays. Earlier this year, the committee was informed that the SBP had finalized new-design banknotes with enhanced security features for federal approval. The SBP also reported on the Pakistan Remittance Initiative (PRI), disclosing that the government had provided Rs120 billion in subsidies to banks to facilitate overseas Pakistanis' remittances. However, due to fiscal constraints, the subsidy was halted in the current budget, forcing banks to cover the costs themselves. Banks have decided to bear these costs to ensure uninterrupted remittance services. The committee appreciated the initiative and decided to invite selected banks to their next meeting to discuss their performance and contributions to the remittance sector. Concerns were raised about foreign investments and deposits in Pakistan, with Dr Hussain stating that no pending cases remained with the central bank. However, Senators demanded a detailed report on any cases involving foreign investors that are still pending, along with the reasons behind the delays. Senator Talha Mehmood expressed worry about companies in Pakistan that, despite reporting losses, might be involved in fraudulent practices and misleading investors and shareholders about their financial status. He urged the government and regulators to investigate such companies and take prompt action against fraudulent activities to protect public investments.",
  "summary": "ISLAMABAD: The State Bank of Pakistan (SBP) is considering phasing out the Rs10 banknote due to rising printing costs, while a new design for the Rs5,000 note is being prepared to curb counterfeiting. The disclosure came from Deputy Governor Dr Inayat Hussain, who briefed the Senate Standing Committee on Finance and Revenue. He said the redesigned Rs5,000 note would help reduce the circulation of…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Dawn Business",
        "title": "SBP mulls ending Rs10 note on rising costs",
        "url": "https://urgent.news/2026/08/27/sbp-mulls-ending-rs10-note-on-rising-costs",
        "published": "2026-08-27T02:31:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}