Pakistan to Get New Money: All Currency Notes to Change by End of Year

The governor of the State Bank of Pakistan, Jameel Ahmad, recently announced big news. Before the end of the current year, or at least within this year, all the money in use in Pakistan will change into new notes. This means everybody should get the latest notes! This is because the central bank wants to make money, that much harder to fake. They want to use a special type of paper called polymer. All this new stuff means your money will last longer and be very hard for bad people to make fake stuff now.

How Will This Happen?

• They are going to begin by making only one type of note. They have also not said which one.
• They will begin making the new money only if the government has given permission.
• After that, they will gradually change one old note type to the new one.

What About the Big 5000 Rupee Note?

Some people feel that the 5000 rupee note should be altogether abolished. They fear that it is giving much scope for bad dealings in matters of money. Mr. Ahmad dispelled this word about any abolition at all, and confirmed the 5000 rupee note would remain, yet only in a new style.

When Can We See the New Money?

We do not know the date yet, but certainly, it will be before the end of this year. The bank is testing to confirm that the new money is going to work fine and it also lasts for a longer period.

So What Will This Mean for Us?

• We all need to get used to the new-looking money.
• The new money may look safer to use and it is going to be harder to fake.
• Now, once in a while, new banknotes may come out and the bank has not released the full details.

This means even though the money has a new look, it will still be working in the same way. We will be using it to buy things and save just as we did before. The bank is only doing this to help keep our money safe and strong.