Pakistan new currency notes hit a delay after the government sends designs back to the State Bank for further changes
Pakistan’s redesigned banknotes are taking longer than expected. State Bank of Pakistan Governor Jameel Ahmad confirmed that Pakistan new currency notes may face delays after the government returned the proposed designs for further refinements. The SBP had already submitted the designs for approval. However, the federal government asked for certain changes before granting final clearance. Final approval, when it comes, will be given by the federal cabinet.
Jameel Ahmad made the disclosure while speaking to traders at the Karachi Chamber of Commerce and Industry. He said the State Bank is currently working on the revised designs. Therefore, a new submission timeline depends on how quickly those changes are completed. The SBP had earlier announced plans to introduce redesigned notes with updated security features as part of a broader effort to modernise Pakistan’s currency system.
Beyond banknotes, the governor also painted a broader picture of Pakistan’s economic health. He acknowledged that conditions have improved significantly compared to three years ago. Furthermore, he pointed to letters of credit as a clear example of that progress. LC operations have improved substantially since 2023, when businesses struggled to open them at all.
The numbers back that up. Pakistan’s average monthly imports now exceed $5 billion, compared to around $3 billion per month three years ago. That jump reflects restored confidence in the country’s external payment capacity. Moreover, it signals that trade activity is picking up meaningfully across the economy.
Still, the governor did not shy away from challenges. He warned that external risks linked to Middle East tensions continue to put pressure on Pakistan’s economy. Energy prices and global shipping disruptions remain real concerns. Therefore, while the economic trajectory is positive, vulnerabilities remain. Finally, for those waiting on fresh banknotes, the message from the SBP chief is simple — they are coming, just not yet.
