PHOTO: AFP
KARACHI: The State Bank of Pakistan (SBP) said on Thursday it has issued fresh banknotes of Rs168 billion, due to increased demand on account of Eidul Azha, compared to Rs161 billion in the previous year.
This included lower denomination notes (up to Rs100) of Rs8 billion and higher denomination banknotes (Rs500 and above) of Rs160 billion which are meant for heavy payments and ATM needs of commercial banks, according to a press release.
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To ensure maximum issuance, all 16 field Offices of the SBP Banking Services Corporation (SBP-BSC) issued fresh notes to the general public from its counters before Eidul Azha. In addition to this, the commercial banks were also issued lower denomination fresh bank notes worth Rs7 billion to disburse the same to the public and their accounts holders.
To meet the increasing demand for fresh banknotes, SBP-BSC made elaborate arrangements with a focus to cover maximum stakeholders including the public.
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Published in The Express Tribune, September 1st, 2017.
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