SBP backs expansion of security-ink production

Governor calls for developing SICPA as regional export hub as company marks 30 years of operations

KARACHI:

State Bank Pakistan (SBP) Governor Jameel Ahmad has said that they are playing an important role in supplying high-quality security ink for the printing of Pakistan's banknotes.

Speaking at the 30th anniversary ceremony of SICPA Inks Pakistan Ltd, the governor expressed satisfaction over the partnership between SICPA and the Pakistan Security Printing Corporation for the production of high-quality security ink, noting that the collaboration has been mutually beneficial for both institutions.

He appreciated the transfer of technology and the local production of various types of security inks, and emphasised the need to explore opportunities to turn SICPA Pakistan into a regional hub for exporting security ink and related products to other countries in the region. He also acknowledged SICPA's latest technological advancements and recognised the company's ongoing support in the development of Pakistan's new series of banknotes.

Addressing the ceremony, Rizwan Butt, Managing Director of SICPA Inks Pakistan, highlighted the institution's 30-year successful journey and its long-standing partnership with the State Bank and the Pakistan Security Printing Corporation. He said that since its establishment in 1995 as a supplier of security ink for banknotes, SICPA has significantly expanded its capabilities. Measures such as the establishment of the brand protection division in 2007, major facility upgrades in 2012, and the launch of the advanced QUAZAR® technology in 2022 have substantially strengthened SICPA's capacity.